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Web analytics provider Omniture today said it will use $40 million in new venture capital, from a group of investors led by Bank of America Venture Partners, for developing technology and increasing marketing efforts.
Web analytics provider Omniture Inc. today said it will use $40 million in new venture capital, from a group of investors led by Bank of America Venture Partners, for developing technology and increasing marketing efforts.
The investment marks Omniture’s third round of venture capital funding, bringing its total to $65 million. Rory O’Driscoll, a managing director at BA Venture Partners, will join Omniture’s board of directors. Other third-round investors are Hummer Winblad Venture Partners and Attractor Investment Management.
Omniture, based in Orem, UT, said it will also use the funding to accelerate customer training initiatives and invest in distribution efforts.
Omniture develops and markets the SiteCatalyst Suite, an online marketing services platform used by more than 400 companies, including eBay Inc. and AOL Inc. It expects to close out 2005 as its fifth consecutive year of more than 100% revenue growth, it said today.
Omniture launched in the second quarter SiteCatalyst 12, which includes new features for managing analysis of web site traffic such as a multivariate experimentation manager and a dashboard tool that pushes real-time information updates to desktops. It also introduced in the second quarter Omniture Discover, a tool that lets users break out information into multiple data correlations.