RatePoint Secures $6.5 Million in Series A Funding
RatePoint Inc., recently announced it has closed $6.5 million in series A funding led by Prism VentureWorks and .406 Ventures. The additional capital will be used to support product development and spearhead sales and marketing initiatives for the RatePoint Consumer Approval Program, the first consumer-driven program that provides businesses with an affordable, interactive quality-assurance certification and customer feedback platform.
“The RatePoint Consumer Approval Program is a powerful vehicle for consumers to easily, quickly and confidently express their tastes and opinions,” said Jim Counihan, partner with Prism VentureWorks. “The potential to extend RatePoint’s communication platform into new markets is huge, as businesses of all kinds look for new and cost-effective ways to better understand and interact with consumers.”
RatePoint Inc. was co-founded by CEO Neal Creighton, EVP of Business Development Chris Bailey, CTO Mike Rowan and VP of R&D Kefeng Chen. Prior to founding RatePoint, all four executives co-founded and held key positions at GeoTrust, the leading provider of intelligent infrastructure services for Internet and telecommunications networks, which was acquired by Verisign for $125 million in September 2006.
“These are seasoned entrepreneurs with a track record of bringing products to market that have direct consumer and business impact,” said Larry Begley, Managing Director of .406 Ventures. “Their success with GeoTrust will enable them to leverage an enormous network of channel partners and merchants to introduce them to the power and potential of the RatePoint Consumer Approval Program.”
“The same GeoTrust executive team that transformed e-commerce for hundreds of thousands of Internet businesses by bringing them greater security, is set to change the customer relationship dynamics of e-commerce with the RatePoint Consumer Approval Program,” said Neal Creighton, CEO of RatePoint, Inc. “By replicating the successful business strategy of GeoTrust in an even larger market, RatePoint will distribute its Consumer Approval Program through established channels in order to give consumers and businesses the insight, access and control they’ve been waiting for.”
Founded in 2006, RatePoint, Inc. offers a powerful, quality-assurance certification and customer feedback platform for today’s growing businesses. Leveraging the latest in Web 2.0 trends, web content authentication and consumer ratings systems, RatePoint, Inc. is revolutionizing the way businesses and consumers define, identify and monitor quality. RatePoint, Inc. was founded by the founders of GeoTrust, and is venture backed by Prism VentureWorks and .406 Ventures.
For more information, please visit www.ratepoint.com