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Monetate raises $8 million, boosts hiring

Conshy web-retail tech firm grows London office

Monetate, the West Conshohocken-based retail Web technology developer, says it has raised another $8 million from previous investors OpenView Venture Partners, Common Fund and Lead Edge Capital. Monetate doesn't release sales figures, but says revenues have doubled as the staff has expanded to 200 over the past year, including growth at the company's London office, which also serves Northern and Central Europe.

Monetate says its Acceleration Cloud, which tracks customer preferences through their Web traffic and adapts clients' Web sites sales info to viewers' presumed interests, "influenced more than one third of total U.S. ecommerce sales (or one in every three dollars) during the 2013 holiday shopping season comprising Black Friday thru Cyber Monday."