“We’re doing a quick $1M bridge round which will get us well into profitability. We didn’t need much capital to get there so instead of doing a large B-round,” says CEO Doug Berg says of the timing. He formed the venture in 2012 as a means for consumers to be alerted of certain products and pricing specials throughout the web, and brands to better connect with them.
Additionally, Mark Elfenbein has just joined the company as CRO. Prior to MyAlerts, Elfenbein was CRO at distributed AI venture Sentient Technologies (raised ($143M to date), and previously the CEO of Slyce, which raised $36M, acquired multiple businesses, and went public in 2014.
MyAlerts was last in the market for money in December, 2016, when closing on a $2m round and foraying into the recruiting market. MyAlerts has raised $12m to date from various investors including: Chicago Ventures, Wisconsin Investment Partners, New Capital Fund, Grotech Ventures, Origin Ventures + local angels Daren Cotter and Tony Abena.