Business

Morrisville’s Netsertive raises another $9M

Digital advertising technology company Netsertive has raised an additional $9 million from investors, boosting its latest round of funding to $24 million.

The Morrisville company, which has more than 200 employees overall, announced the new funding Wednesday. The company announced in October that it had raised $15 million –and was still raising more –that would enable it, among other things, to add at least 50 employees over the next 12 months and possibly as many as 100 or more.

“Putting this level of capital into our company helps solidify Netsertive as the strong choice for brands who want the best technology and the best long-term partner that can grow with them,” co-founder and CEO Brendan Morrissey said in a statement.

Netsertive’s technology platform enables brands and retailers to use a variety of targeted online ads to drive consumers to brick-and-mortar stores.

The privately-held company recently came in No. 128 on Deloitte’s Technology Fast 500, which ranks North America’s fastest-growing technology companies. Netsertive’s revenue jumped 668 percent from 2011 to 2014.

According to Inc. magazine, which ranked Netsertive No. 676 on its latest annual list of the nation’s fastest-growing private businesses, Netsertive’s revenue totaled $31.6 million in 2014, up 63 percent from 2013.

Netsertive’s latest funding was led by River Cities Capital Funds, a Cincinnati growth equity fund with an office in Raleigh.

David Ranii: 919-829-4877, @dranii

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