E-mail services firm ExactTarget gets $10.5 million in venture capital
ExactTarget, an e-mail services provider whose clients include The Home Depot as well as small merchants, has received its first influx of outside funding in a $10.5 million round of financing by Insight Venture Partners, ExactTarget said today.
ExactTarget provides a web-hosted e-mail management system that lets retailers design and administer e-mail campaigns by logging onto a web page. In chain store applications, retailers can design e-mail marketing campaign templates that can be modified by individual store managers.
Scott Dorsey, president of ExactTarget, said ExactTarget will use the new capital for growth in software development, sales and marketing, and improvements to customer service and account management. In addition, the new association with Insight Venture Partners is bringing ExactTarget new opportunities with other companies in the investment firm’s portfolio. “We`ve gained a half-dozen new clients and are working on other creative ways to help each other grow our businesses," Dorsey said.
In addition to large retailers and consumer products companies like Home Depot and General Mills, ExactTarget’s clients include smaller merchants like Berean Christian Stores and Wild Birds Unlimited.
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