Online ratings and reviews provider Bazaarvoice builds momentum in the UK and Europe with financing round from investment house European Founders Fund

Bazaarvoice, the online ratings and reviews provider, has secured funding from venture capital firm European Founders to support its expansion into the UK and Europe in 2008.

Bazaarvoice’s online technology allows retailers to use authentic customer generated content to drive sales and enhance purchases. The company’s 160-strong client base includes Dell, figleaves.com, Early Learning Centre, Timberland and Goldsmiths.

The funding from European Founders Fund, an undisclosed amount, will help Bazaarvoice expand its suite of social commerce solutions in the UK and Europe, as well as reach customers in new vertical markets. Bazaarvoice is currently setting up offices across the continent; the most recent one in Paris.

“Since launching in the UK in March last year, Bazaarvoice has seen huge growth and this investment shows our commitment to promoting the benefits of social commerce here and in Europe,” said Brett Hurt, Founder and CEO of Bazaarvoice. “Some of the world’s biggest online brands are seeing the tangible business benefits of adding authentic consumer reviews to their web sites. It’s proven that ratings and reviews drive conversion, reduce returns and encourage customer loyalty and trust.”

Since its inception in 2005, Bazaarvoice has been a big player in the technological and marketing innovation in social commerce, and largely responsible for driving the adoption of trusted consumer ratings and reviews in the US. Bazaarvoice serves more than one billion customer reviews per month for its clients worldwide.

European Founders Fund provide funding and strategic growth support to online technology companies on the continent. The European Founders Fund is run by the three Samwer brothers and counts business networking site LinkedIn, currency trading and conversion site Oanda.com and local business marketing site ReachLocal among its investments. The Samwer brothers have been responsible for successful acquisitions in the sector including German auction site Alando to Ebay, mobile entertainment company Jamba, and online dating platform iLove to US internet infrastructure company VeriSign Inc.

“Bazaarvoice has emerged as the leader in the growing social commerce market by successfully helping its client base use user-generated content to deliver clear and measurable ROI,” said Marc Samwer, Managing Director of European Founders Fund. “Bazaarvoice has built a proven revenue model and efficient software as a service business resulting in highly satisfied clients. European Founders Fund is excited to support and join Bazaarvoice in their continued expansion into the UK and Europe.”

About Bazaarvoice
Bazaarvoice (www.bazaarvoice.co.uk) offers outsourced technology, hosting services, analytics and expertise to help brands enhance the online shopping experience with social commerce applications that drive sales. Launched by web analytics pioneer and Coremetrics founder Brett Hurt in the US in 2005, Bazaarvoice’s stable of over 160 clients include Hewlett Packard, Dell, Early Learning Centre, Timberland and figleaves.com. Bazaarvoice Ratings and Reviews and Ask & Answer™ products help brands to maximize the impact of user-generated review content through customisation, deep integration, community management, advanced analytics, search engine optimisation and syndication across the Web. Bazaarvoice’s services empower consumers to share honest opinions and influence each other to make more informed and rewarding purchase decisions. Bazaarvoice was named Marketing Innovation of the Year in the 2006 US ClickZ Marketing Excellence Awards was included in the ‘Red Herring 100 North America.’ The company was named one of the ‘Red Herring 100 Global’ in 2007.

For further information please contact:
Claire Armitt
flannel communications
claire.armitt@no-flannel.com
020 7754 5507

Published on: 12:00AM on 30th January 2008