San Jose, Calif. – Baynote, a provider of personalized
online shopping recommendations based on previous purchases and Web surfing, announced
on Wednesday the closing of a new $13 million, third round of financing.
SingTel Innov8 led the investment round; previous backers Hummer Winblad,
Steamboat Ventures and JK&B Capital also participated.
Calif.-based Baynote also announced that it has named former SAP executive Doug
Merritt as its new president and CEO.
Customers of the company’s services
include AT&T, Dell, Fox and Vevo. The company said that revenues in 2010
The new funding will be used for expansion into telecommunications
and financial services markets, as well as overseas expansion and further