Software Firm Gets Funding

New York City-based HookLogic, which has a significant and growing presence in Ann Arbor, said this week it received $9.5 million in new capital from Bain Capital Ventures.

HookLogic will use the funding to further develop its unique software-as-a-service  platform and expand its business across the retail, travel and automotive sectors in North America and Europe.

In Ann Arbor, HookLogic has a software development office at 111 W. Kingsley. Because of significant growth, the company has taken on overflow space at 603 W. Huron while searching for a new office location (which the company says it plans to keep in downtown Ann Arbor).

HookLogic currently has about 30 Ann Arbor employees between the two locations, and plans to add an additional 35 positions over the next several months.

The Ann Arbor office was originally opened in 2008 as a software development hub. Additionally, since 2009, the HookLogic product management team has been centered here, as well as its automotive systems team. All of these groups are expected to continue growing. In an email, the company said its goal "remains leveraging the exceptional local talent coming out of the university and already in the work force."

HookLogic provides technology and services that enable e-commerce retailers to incorporate relevant and profitable paid media programs within their online, mobile, and social stores. It simultaneously provides brands and their media agencies with deep funnel marketing opportunities that reach shoppers in the buying mode at the critical moment between consideration and purchase. HookLogic currently works with several industry leaders including Overstock.com and Expedia.

In June of this year, it was selected to Red Herring's Top 100 North America list, which in past years included Facebook, Twitter, Google, Yahoo, Skype, Salesforce.com, YouTube and eBay.

More at www.hooklogic.com.