Coupon Site Savings.com Closes $4 Million Series B Round of Funding With U.S. Venture Partners

Investment will help meet growing consumer demand for discounts, coupons and promotions 

LOS ANGELES (November 12, 2008) – Savings.com (Savings.com, Inc.) today announced it has closed a $4 million series B round of funding led by U.S. Venture Partners.  The online coupon services company received initial funding from several prominent angel investors. 

Savings.com is an e-commerce search engine that provides consumers with “all the best deals as voted by you.”  The coupon site is becoming an essential part of users’ online shopping experience by offering a simple and efficient tool for finding the best deals based on popularity.     

“This funding will allow us to continue to acquire more of the best deals for our growing community,” said Loren Bendele, CEO of Savings.com.  “We are excited to invest in new and creative ways to find and share the best deals with our community and to help our community share deals with each other.”   

Savings.com acquires deals through merchants, aggregators and user-submissions and the Savings.com community votes to determine which deals are the “best.”  This community participation and user-generated content continuously and automatically improves the site, creating the best possible experience for finding great deals on whatever consumers want.  Savings.com also leverages proprietary technology to distribute deals through search engines, affiliate partners and other online media to provide the broadest reach possible.    

“Savings.com is taking what’s best about Web 2.0 and applying it directly to an extremely profitable business space – connecting shoppers with merchants,” says Ted Maidenberg, of U.S. Venture Partners. 

“They have had early success proving out the technology and business model, and are well positioned to scale and become an essential part of the online commerce flow.”   As part of the USVP investment, Mr. Maidenberg will join the board of Savings.com. 

Savings.com provides the technology platform for finding, rating and distributing all the best deals to give consumers a simple and effective tool for saving money.  The firm is based in Los Angeles and is funded by U.S. Venture Partners and several prominent angel investors. 

U.S. Venture Partners (USVP) is a leading Silicon Valley-based venture capital firm, dedicated to helping entrepreneurs build world-class companies that are leaders in their industry. USVP focuses on early stage opportunities in sectors where the Partners have the domain expertise, operating experience and network of relationships to provide meaningful contribution to the success of the enterprise. These sectors include business and consumer software and services, digital communications and networking systems, semiconductors and components, and medical devices and biopharmaceuticals.