USAData Pulls in $6 Million
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Online marketing firm USAData Friday netted an additional $6 million in funding from a close partner, CRM/database marketing firm Acxiom.
USAData said it plans to use the money to accelerate its new product development, which includes Web software for online sales and marketing. The company, which is headquartered in New York City, provides direct mail lists and offers software that integrates and analyses customer profile databases.
Little Rock-based Acxiom receives a seat on USAData's board of directors as a condition of the investment.
Friday's deal broadens USAData's already-close ties with Acxiom, with which it signed a strategic agreement earlier this year to create Web-based access for clients of Acxiom's database software.
"We're very pleased that Acxiom decided to make this investment. Acxiom is the leader in customer data integration, and incorporating their AbiliTec software into our products will deliver even greater value to our clients," said USAData president and chief executive officer Ric Murphy.
"We invested in USAData because they are an innovative marketing services provider with a clear understanding of AbiliTec," said Acxiom company leader Charles Morgan. "We believe USAData's business model will be successful, and we wanted to align our interests for mutual benefit."
The company won $11.7 million in its previous funding round in June, with investments from SI Ventures, Insight Capital Partners, Advanta Partners and others. SI Ventures is affiliated with tech consultancy GartnerGroup.