– USA, FL – PowerChord, Inc., a provider of digital brand management software and services for major national and international brands connecting online buyers to their local dealer networks, has secured a $10 million investment led by Ballast Point Ventures (BPV). PowerChord will use the investment to add to its sales force and bolster its marketing efforts.
Founded in 2001 by Chief Strategy Officer Patrick Schunk, PowerChord, Inc. provides internet brand management, web hosting, and digital marketing services for independent dealer networks in the United States and Europe. PowerChord’s Software-as-a-Service platform allows major brands to maintain brand consistency down to the local dealer level. The Company’s customer engagement platform creates a universal online brand experience for national and international brands with consistent content, data, and messaging across thousands of local dealers. Ballast Point Ventures served as the lead investor in the transaction and is joined by The Burton Partnership as a co-investor.
“We are excited by the possibilities that BPV’s minority investment provides,” said PowerChord founder Patrick Schunk. “The PowerChord team has worked diligently to continue to provide innovative products and superior customer service for our clients. With this funding, we will be able to attract more top talent and accelerate the development of the PowerChord platform.”
Lanny Tucker joined PowerChord as Chief Executive Officer in 2015 and was previously the Senior Vice President of Sales and Marketing for Channel Intelligence, a Florida-based, global technology company that was acquired by Google in 2013. “We look forward to partnering with the Ballast Point Ventures team. They share our long-term vision for the Company and recognize the importance of building great long-term relationships with our customers,” added Lanny Tucker.
“PowerChord’s industry-leading position in digital brand management is a testament to the vision and platform developed by a great team over several years,” said Ballast Point Ventures’ Robert Faber, who will join the PowerChord Board of Directors. “Under Patrick Schunk’s leadership, the PowerChord team has had great success without any outside capital to date. We are excited to partner with PowerChord and to work with Patrick and Lanny and their dedicated team to continue building a leading technology company in the Tampa Bay region.”
PowerChord, Inc., headquartered in St. Petersburg, FL, provides digital brand management services including website design and hosting for local dealer landing pages, e-commerce capabilities, and dealer locator listings on clients’ corporate home pages. The Company offers digital marketing services as a complementary service line including search engine marketing, email marketing, search engine optimization, digital ads, and in-store marketing materials for customers. The Company also provides a full back-end suite of analytics software for its customers to analyze marketing performance at the dealer level. Today, there are over 9,000 individual dealers on the PowerChord platform operating in 24 countries with 8 currencies.
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