Spring Metrics, a startup developing website analytics focusing on e-commerce, has closed on $635,000 in seed financing.
Backers include LaunchBox Digital, CBC New Media Group, Zelkova Ventures and individuals. CBC New media Group is part of Capitol Broadcasting, the parent firm of WRAL Tech Wire.
Spring Metrics was one of the first graduates from LaunchBox Digital’s new business development incubator. LaunchBox takes an equity stake in selected ventures that it provides office space and mentors to the point the startups are prepared to seek institutional funding.
In January, Spring Metrics received a $45,000 grant from NC IDEA, an economic development group based in Durham.
Spring Metrics plans to use the funding for further development and marketing.
“Spring Metrics is developing a phenomenally easy-to-use conversion analytics solution for online retailers and e-commerce companies,” said Doug Kaufman, the company’s co-founder and chief executive officer. “Many analytics solutions are built to just track and then display mountains of data. Our goal is very different – Spring Metrics is designed to make sense of all the data and present companies with actionable insights so they can grow online revenue.”
As part of the deal, LaunchBox Digital partner Lee Buck joins the Spring Metrics board. Other board members include Jimmy Goodmon, head of CBC New Media, and Steve Vanderwoude.
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