RealTime IT News

net.Genesis Secures $22 Million In Financing

net.Genesis Corp., a provider of e-business intelligence solutions, announced a mezzanine round of financing of $22 million, led by BankAmerica Ventures.

Other participants were Goldman Sachs, St. Paul Ventures, Nexus Group, Boston Millennia, J&W Seligman and Harte-Hanks Corp. In addition, existing investors reinvesting in this round include Charles River Ventures, Bessemer Ventures, OneLiberty Ventures and Robertson Stephens. Hambrecht & Quist acted as the placement agent and also participated as an investor.

The company said the funding will be used to finance the company's growth in marketing, sales and product development.

"net.Genesis pioneered the e-business intelligence industry, and has clearly proven it is a leader in this growth market with a superior management team, innovative technology and world class customers," said Rory O'Driscoll, vice president of BankAmerica Ventures. "net.Genesis' solutions help e-businesses analyze the behavior of online customers, maximize return on investment and improve business and strategic decision making."

net.Genesis products include its flagship net.Analysis software app and its Design for Analysis methodology.