MetaBrite raises another $2.2M for receipt-scanning business intelligence platform – GeekWire
MetaBrite continues to see more demand for its technology platform and just raised more cash to help support the company’s growth.
The Seattle-based startup reeled in another $2.2 million to close out a $13.2 million Series A round, bringing total funding to more than $18 million for the 4-year-old company.
MetaBrite has developed machine learning technology that can scan consumer purchase receipts and automatically extract precise item-level details from any retailer. It licenses its receipt processing SDK into multiple consumer-facing apps.
MetaBrite CEO Court Lorenzini originally raised nearly $5 million for CookBrite, which was the name of his company that built a one-stop mobile meal-planning solution, acting as a digital shopping list and recipe book.
But in November 2015, the startup changed its name to MetaBrite. It shut down CookBrite and focused on building a business intelligence platform.
Now the company employs 40 people and its business is “expanding at an extraordinary rate,” Lorenzini told GeekWire. Revenue is “at least doubling every month,” he added.
“We’re now raising our Series B at a higher valuation to keep up with accelerating demand for our services,” noted Lorenzini, who previously co-founded Docusign.
Other MetaBrite executives include CTO Roy Penn, a former engineer with the Israeli Defense Forces, and CPO Christine McKee, a former RealNetworks and Expedia executive. Other employees have experience at places like Kraft, McDonalds, IBM, and Nielsen.