Geocapital invests $12 mil in online retailer
Venture capital firm Geocapital Partners on Friday said it has pumped $12 million in equity financing into online retailer DVD Express Inc.
In addition to selling DVD titles, Hollywood-based DVD Express also operates DVD.com, which provides information about home entertainment news and features.
According to prexy Mike Dubelko, the company plans to earmark much of the funding to pay for its $30 million in marketing partnerships with online giants America Online, Alta Vista and Disney’s Go Network.
“Our investment partnership with Geocapital provides us with the resources needed to fully implement our vision and expand our market leadership,” Dubelko said.
“While others are scrambling to catch up, DVD Express has leveraged its Hollywood location and its track record for superb customer service to build one of the Internet’s strongest e-commerce companies,” said Kimberly Eads, partner of New Jersey-based Geocapital. “We are excited to become a partner in the company’s growth.”
Geocapital manages nearly $500 million for equity investments in software and information services companies, including Autoweb.com, Realtor.com and Logic Works Inc.