SiteWit Corporation, which automates search engine marketing and website engagements for small businesses, has raised over USD1.5m in new equity capital from investors including Stage 1 Investors.
SiteWit provides small to medium sized businesses with tools that enable them to efficiently market their websites on Google AdWords, Bing Ads and Yahoo, which results in higher conversion ratios of website visitors to customers and sales growth. SiteWit markets its tools exclusively through a cadre of large hosting and software as a service partners who focus website building software and also partners who create marketplaces for the SMB market.
“I believe SiteWit has a unique opportunity to grow tremendously by helping small and medium sized businesses worldwide significantly increase revenues,” says Jon Gordon, managing director of Stage 1.
“We are pleased with the capital commitment and confidence expressed by Stage 1 Investors and our other recent investors,” says Ricardo Lasa, chief executive of SiteWit. “With these investments and our focus on the SME market we have the ability to become the leader in this space.”
SiteWit will use the proceeds of the round to develop distribution channels with existing partners such as Yola website builder and others. Furthermore, proceeds will be used to further develop social media and small business lead generation products.
