Half Off Depot Secures $7 Million in Funding Led by Noro-Moseley Partners

Internet Industry Veteran Lance Weatherby to Lead Sales and Market Expansion
ATLANTA, May 17, 2011 – Half Off Depot, an Atlanta-based social commerce company announced today that it has secured $7 million in series A funding. Led by Noro-Moseley Partners, BLH Venture Partners, and Linch Capital also participated in the round. The investment will be used to support further technology development, sales growth and market expansion.

“Half Off Depot offers merchants something more than consumers who are just shopping for deals,” said Alan Taetle, general partner at Noro-Moseley. “The company harnesses a trend in which local marketing spend is being re-allocated from traditional media to online outlets. It provides merchants a cost-effective way to acquire customers, build online presence, and generate repeat purchases,” he added.

“Not only will the Noro-Moseley led investment help accelerate the already robust revenue growth at Half Off, it also brings with it access to Alan Taetle’s expertise,” said Brian Conley, CEO of Half Off Depot. “The combination serves as the groundwork for building a significant enterprise,” he added.

Lance Weatherby, a 16-year Internet veteran, participated in the fund raising and has joined the company’s executive team as vice president of business development and sales. In this role, Weatherby will bring his extensive experience growing revenues at early-stage companies to Half Off Depot. He has served in executive roles at MindSpring, EarthLink, and CipherTrust. “Of the hundreds of start-ups I have had the opportunity to meet these last few years, this is one of the most exciting and promising,” noted Weatherby. “I am eager to come in and accelerate Half Off Depot’s growth alongside the team as well as renewing the working relationship Alan and I enjoyed at MindSpring.”