Online marketing company Responsys Inc. has named Howard Koenig as chief executive officer. The company also received $9.4 million in growth financing from venture capital firms including Accel Partners, Foundation Capital, Redpoint Ventures, Sigma Partners, Lighthouse Capital Partners and R. B. Webber & Co.
Koenig was CEO of BenefitAmerica, formerly EmployeeLife, that offers systems for delivering employee benefits to employers and insurers. Before BenefitAmerica, Koenig was corporate vice president of operations and client services for Automatic Data Processing, where he built and managed ADP's web-based benefits administration outsourcing businesses and was responsible for building and managing the Internet strategy and customer relationship management systems.
Including its latest round financing, Responsys has raised almost $65 million to fund growth. Responsys serves about 200 customers, including retailers such as Lands’ End and Quill Corp.
"This latest financing demonstrates the confidence the investment community has in our services and clients, and it will help extend our market-leading position through 2003 and into next year,” Koenig says. Koenig says he expects growth of 30% this year, about double last year's growth. He says he expects the new funding to move the company through cash flow break even to profitability.
Back...
