“MyAlerts is an engagement platform for consumers to design their own custom alerts and for marketers to connect with them. In the retail space, we’ve closed a number of large companies on this model and the core business is growing nicely. We needed a small amount of cash quickly now,” he explains, “To expand into a new vertical, bring us cash flow positive and set us up for a larger series B round down the road.”
An expansion into the recruiting/talent/hr world is one that Berg knows very intimately considering his past success with Jobs2Web. He says that MyAlerts new product is already being sold to recruiting platform Jibe, which in turn, is asssisting the likes of Johnson & Johnson and American Express with their hiring needs.
“It’s a space I get and a new market with huge revenue potential,” Berg asserts. “We’ll be adding more large platforms as well in the talent management or application tracking space now.”
MyAlerts has raised $12m to date from various investors including: Chicago Ventures, Wisconsin Investment Partners, New Capital Fund, Grotech Ventures, Origin Ventures + angels Daren Cotter and Tony Abena; they currently have 25 employees.