Victoria, BC - April 17, 2008 – Victoria based e-commerce research and analytics leader Advanced Economic Research Systems Ltd. (AERS), today announced the closing of $1 million for its round of private equity funding.
"In a few short years, its increasing market share, consistent earnings, and strong management have culminated in securing AERS the trust of new investors. We are extremely pleased to have successfully completed this round of our funding strategy," says Ian H. Stewart, Q.C. and AERS Board Chair.
Since 2005, AERS has raised close to $3 million in start-up financing from private investors to develop a suite of products designed to harvest the wealth of consumer activity information on the world's largest e-commerce platform.
Commenting on the deal, Fred Speckeen, AERS President and CEO explains, "This fundraising wraps up at a great time for us following the recent successful debut of our Financial Analyst Dashboard "SectorView" at the O'Reilly Money: Tech Conference on Wall Street and the launch of our highly refined Terapeak 5.0 web solution that uncovers strategies and products to maximize profits for anyone selling on eBay. Further, we've just completed a record month, generating the highest revenues and subscriber monthly growth in the history of the company. Through our real-time Terapeak and Dataunison branded products, AERS is fulfilling increasingly urgent business and consumer information needs of a worldwide market."
AERS plans allocate the money to raise further its levels of customer service and product innovation, making superior products and services to make data-driven and information-driven businesses more effective.
"Company co-founder brothers, Andrew and Anthony Sukow, realized early on the power of market research for eBay sellers. While operating their own auction business, they became aware of the need for e-commerce metrics within the entire multi-billion dollar eBay platform to assist with the decision making process. Combining Andrew's expertise in database management and software development with Anthony's extensive knowledge and experience in economic theory, they approached the online auction giant with their Terapeak prototype research tool, and the rest is history," says Speckeen. About Advanced Economic Research Systems Inc.