Monday, April 2, 2007

Baynote Secures $10.75 Million for Content Guidance Software

Baynote, a start-up based in Cupertino, California, secured $10.75 million in Series B funding for its content guidance software for the business web.

Offered as a suite of Web 2.0 services, Baynote's Content Guidance software uses the "wisdom of community," or the implicit, emergent behaviors of peers, experts and the greater community to guide website visitors to the products, content, and social search results that increase website conversions.

The company said interest from online retailers in real-time product and content recommendations based on its patent-pending "UseRank" technology has risen sharply. For online retailers, Baynote presents shoppers with other products and related accessories that have proven up-sell and cross-sell capability, automatically increasing website conversion rates and average order sizes.

The funding round was led by Steamboat Ventures, the venture capital arm of The Walt Disney Company, with participation from Series A investors Hummer Winblad Venture Partners, JK&B Capital and Chess Ventures. Concurrent with the investment, Dan Beldy, managing director of Steamboat Ventures, has joined Baynote's Board of Directors.

The latest round brings total funding for Baynote to more than $15 million.

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