Monday, August 11, 2008

Magnify360 Raises $2.5M

Los Angeles-based Magnify360 has raised $2.5M in a venture funding round, the firm told socalTECH today. The funding came from MHS Capital and angel investors. Magnify360 has developed a software-as-a-service platform which personalizes content and web sites to individuals; the firm's platform takes and optimizes that content based on individual behavior. According to Olivier Chaine, CEO and founder of Magnify360, the funding will primarily go towards growth. The funding is the first outside funding for the firm, which was bootstrapped and is profitable. Chaine said that the company will use the funding to launch a few new marketing campaigns, and expand; the 35-person company has at least six open positions is aggressively looking to hire. Chaine was previously on the founding team at LowerMyBills. More information »

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