ProfitLogic picks up $20 million

By Dawn Kawamoto
Staff Writer, CNET News

ProfitLogic said Monday that it has received $20 million in a third round of funding led by Battery Ventures and JPMorgan Partners, both of which will receive seats on the company's board.

Previous investors Bain Capital, General Catalyst and Athena Technology Ventures also participated in this latest round. Cambridge, Mass.-based ProfitLogic has raised a total of $38 million. The company develops software designed to enable retailers to analyze their merchandising process.

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