The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The $57.3 million deal with Visual Sciences expands the market reach of WebSideStory and opens up cross-sell opportunities within its own enterprise customer base. Preliminary Q4 results show revenue up 79% from last year.
WebSideStory has acquired analytics provider Visual Sciences LLC in a deal valued at $57.3 million in a cash, debt and stock deal and has posted record quarterly revenue of $11.7 million, in announcing its preliminary Q4 results.
The merger with Visual Sciences, completed Wednesday, “expands our addressable market by an estimated $1 billion and creates significant cross-sell opportunities within our over 1,000 enterprise customers,” says Jeff Lunsford, WebSideStory’s chairman and chief executive officer. Visual Sciences, adds Lunsford, “won the respect of everyone our industry with the dynamic segmentation, multi-channel and real-time data visualization capabilities of their flagship web analytics solution, Visual Site.” Lunsford adds that the company’s range of analytics provides as well as its established relationships within the government sector “position WebSideStory as well to benefit from our nation’s Homeland Defense Initiative.”
According to Visual Sciences CEO Jim MacIntyre, Visual Sciences` technology will be integrated with all of the modules of WebSideStory Active marketing Suite. Visual Sciences will operate as wholly-owned subsidiary of WebSideStory and co-founder MacIntyre and David Scherer will serve as CEO and chief technology officer, respectively.
In unaudited results for Q4, WebSideStory posted revenues of $11.7 million, 79% higher than the $6.5 million in revenue generated for Q4 2004. For the quarter, the company signed 129 contracts with new customers, up from 110 in the previous quarter.