Snapretail raises $1.5 million, expands team

Marketing automation company Snapretail closed the first half of its two-part funding project with $1.5 million. An addition $1.5 million to $2 million will complete the funding.

The company, which offers web-based sales and marketing solution for independent store owners, will use the funding to grow its sales team. The team has already increased from three to 12 since February and has plans to grow to a 20- and 40-person team by the end of 2013 and 2014, respectively.

The larger sales team will help Snapretail better serve its vertical markets, including those outside of gift and home décor, the company's initial target market.

The company currently serves more than 1 million independent merchants in more than 45 different vertical markets, including apparel, books, furniture, home décor, ice cream shops, floral, gift, hardware, jewelry, luggage, pharmacy, salons, scrap booking and toy.

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