Industry News: Boundless, Branders.com Each Secure $5 Million In Venture Capital


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Industry News: Boundless, Branders.com Each Secure $5 Million In Venture Capital

Issue: 2009dec

Austin, Texas-based distributor Boundless Network (UPIC: Bound784) has raised $5 million in additional financing toward a total of $13 million in funding to date. The current financing comes from existing investors Austin Ventures and Silverton Partners.

“With this new funding we will continue to expand our technology platform to better enable sales professionals within the promotional products industry to grow their business in a scalable way and help companies save money on branded merchandise,” says Jason Black, founder and CEO of Boundless Network.

Since the beginning of 2008, Boundless has completed 13 acquisitions and expanded from Texas to 20 regional offices, including Canada.

“Boundless Network has positioned itself to take advantage of a large, underserved market in the promotional products industry,” says Bill Wood, general partner at Silverton Partners. “We’re confident the company will leverage that momentum, along with our financial commitment, to execute its growth strategy.”

Foster City, California-based distributor Branders.com (UPIC: BRAN8536) also found itself with an influx of $5 million in venture capital last week, according to the Washington Post.

The online-only business received funds from backers Menlo Ventures, DCM, Venture Strategy Partners and Altos Ventures. Total investment in the company now sits at $46 million.

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