With $5.35 million in new funding, iContact Corp. will continue to develop its technology platform for managing e-mail marketing campaigns as well as blogs and RSS feeds.
The funding round was led by Updata Partners with participation from IDEA Fund Partners.
"This funding will allow iContact to move to the next level," said Ryan Allis, CEO and co-founder of iContact, which is based in Durham, NC. "We have worked hard to bring the best e-mail marketing, blogging, and RSS feed web application in the world to our customers. It is our mission to be the leading worldwide provider of on-demand software that makes online communication easy. With this capital infusion, we can move even more quickly."
IContact provides a marketing management system that allows companies to manage e-mail newsletters, RSS feeds, surveys and blogs from a single web application. Its customers include LG Electronics, Ford Motor Co. and Intuit Inc.
IContact will also use its funding to expand marketing intiatives and acquire new customers. It also plans to expand its workforce to more than 100 from about 60 over the next 18 months.
Sendmail Inc., a privately held e-mail services provider, reports that sales for the first six months of this year rose 76% over the same period last year. It attributes the growth mostly to increased global demand for its Sentrion line of messaging processing and security applications, which cover areas such as e-mail authentication and gateway management.