The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The provider of customer relationship management software registered record bookings in the fourth quarter when revenue hit $36.1 million, an 18% increase over the same quarter a year earlier.
RightNow Technologies Inc., a provider of customer relationship management software, has reported $140.4 million in revenue for 2008, a 25% increase from $112.1 million the year before. Record bookings drove fourth quarter revenue up 18% to $36.1 million from $30.7 million a year earlier, the company says.
The company reported a net loss for the year of $7.3 million, compared with a loss of $18.6 million in 2007. For the fourth quarter, the company reported net income of $692,000, compared with a loss of $3.3 million in Q4 2007.
RightNow added 59 customers in the fourth quarter and 260 for the year. Among the new or renewing customers were online retailers Drugstore.com, No. 41 in the Internet Retailer Top 500 Guide, and Under Armour No. 188.
“In the fourth quarter our sales teams delivered our highest total bookings in any quarter over the past two years, which we believe is a tremendous achievement in the current environment,” says Greg Gianforte, CEO and founder. “Our results in Q4, reaffirm my confidence in our team’s ability to deliver, and validates our strategy of helping companies lower costs and retain customers.”
The company projects revenue of $36-37 million for the first quarter of this year and $150-$155 million for the full year.
Tracy Wright, vice president and chief finance officer at Drugstore.com will speak at the Internet Retailer Conference & Exhibition, June 15-18 in Boston, in a session entitled Understanding web site financials: Managing to success. Mark Kuhns, vice president of e-commerce at Under Armour, will also speak at the conference in a session entitled How a consumer manufacturer uses the web to tighten the customer relationship.