West Conshohocken‘s Monetate Relocates Headquarter Staff to NYC

By
While less than 15 percent of Monetate staff has been laid off, CEO Lucinda Duncalf says its a "big deal" culturally for the Conshohocken company. (Image via Openview Partners)

One of the Philadelphia region’s strongest software start-ups with offices in West Conshohocken is relocating its headquarters to New York City, writes Joe DiStefano for Philly.com.

Monetate CEO Lucinda Duncalfe
Monetate CEO Lucinda Duncalfe

Monetate offers personalized software that enables online sale sites to offer specific product to individual customers based on unique customer data. Now, according to CEO Lucinda Duncalfe, it has decided to move closer to its customers.

The company’s clients include big retailer names such as Fullbeauty Brands, Tommy Hilfiger and over 25 other brands based in New York.

However, Monetate is not planning on relocating its software staff. The decision to not move its West Conshohocken engineers but keep them close to Center City and Philadelphia’s main airport underlines the region’s advantage as a software center.

In the last six years, Monetate has managed to raise $47 million from Philadelphia’s First Round Capital and other investors. First Round partner, Josh Kopelman, noted that Monetate is a good example of the type of software companies area investors are hoping to help thrive in Philadelphia.

“There’s a vicious battle for tech talent,“ said Bob Moul, CEO of Cloudamize and a former head of Philly Startup Leaders. “Here, we don’t have the same amount of turnover.”

Read more about the move at Philly.com by clicking here.

Advertisement