Smarter Remarketer, an Indianapolis-based retail technology firm, said Aug. 27 that it has lined up $7 million in venture debt financing from Los Angeles-based City National Bank.
The company, which received $7 million in venture funding from Boston-based Battery Ventures early this year, said it will use the new capital to expand its sales and marketing.
CEO Howard Bates told IBJ in May he hopes to expand employment from 35 to 50 by the end of the year.
The firm, founded in 2010, helps retailers better understand their customers, allowing them to customize their digital messages so they can maximize sales. Clients range from Eddie Bauer and The Finish Line to WetSeal and Zoro Tools.