Boca Raton, FL, February 20, 2019 --(PR.com
)-- HiConversion, Inc. (HiConversion), the world’s only collaborative experience optimization (C-EXO) solution built to accelerate mobile eCommerce revenue growth, announces the closing of a private placement financing raising gross proceeds of $3 million. Investors in HiConversion included Littlebanc Advisors, LLC (Littlebanc), a private equity firm. HiConversion will use the net proceeds to support sales and marketing to grow community based collaborative experimentation and results sharing enabled by HiConversion’s SaaS technology solution.
“Mobile shoppers are disrupting traditional eCommerce as their time on site continues to grow while proportional revenue growth continues to lag behind desktop,” said Zee Aganovic, HiConversion’s Founder and CEO. “This mobile commerce (mCommerce) revenue gap can only be addressed with our community initiatives that provide merchants with an opportunity to try standardized optimization experiments based on multi-merchant insights into what practices will likely work.”
HiConversion is helping merchants rapidly close the mCommerce revenue gap with community based mobile experience optimization. The community model is made possible with our standardized and pre-programmed optimization experiments for easy implementation and adaptive optimization technology for large-scale experimentation. A standardized approach enables running many experiments in parallel among many merchants and multi-merchant anonymized data sharing for development of industry wide metrics and actionable insights that are not available anywhere else. For more information, visit www.hiconversion.com and www.mobileoptimized.org.
Littlebanc is a private equity firm that invests in small, high-quality businesses in old-world, simple, and enduring industries. Littlebanc invests the firm's own capital along with capital from select Limited Partners ("LPs") and takes an active approach with its portfolio companies to assist them in realizing their potential. Littlebanc's LPs are predominantly seasoned finance professionals that are drawn to the firm due to their ability to select only the investments that they want to participate in, position size each investment, and the collective expertise of the broader LP base which can add considerable value to each portfolio company. For more information, visit www.littlebanc.com.