Andromedia Secures Additional $15 Million in Financing
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San Francisco-based Andromedia Inc., a supplier of Web marketing software, said it has secured $15 million in strategic equity financing.
The new round of financing was led by XL Ventures LLC, a subsidiary of Big Flower Holdings Inc. Big Flower, with revenues of $1.8 billion, is an advertising and marketing services company based in New York City. Kristopher A. Wood, a managing director of XL Ventures Inc., has been named to the Andromedia board of directors,
Additional new investors include: IDG Ventures, the venture capital arm of International Data Group (IDG); investment bank C.E. Unterberg, Towbin; Ares Management LP, a private investment fund based in Los Angeles; and ABS Employee Ventures (affiliated with BT Alex. Brown).
In addition, all of Andromedia's existing institutional investors participated in this latest round, including Travelers Insurance, UBS Capital, Westbury Capital Partners, and Sippl MacDonald Ventures. This brings the total outside investment in Andromedia to $30.7 million since the company's founding in late 1995.
Separately, the company unveiled its Smart eMarketing Platform of products and initiatives. Andromedia's Smart eMarketing Platform combines LikeMinds Personalization Server with ARIA Web site analysis software.
Andromedia announced four new products, a strategic relationship with BroadVision, support for the Information and Content Exchange (ICE) protocol, and partnerships with several e-commerce platform vendors.
New products include ARIA 3.0 and ARIA Enterprise 3.0, as well as ARIA eCommerce 3.0, an online shopping analysis solution that integrates with third-party e-commerce platforms to report on actual customer shopping behavior in real-time. Also new is LikeMinds Personalization Server 2.2.
Meanwhile, ATG, Vignette, BroadVision, Allaire and Netscape announced support for Andromedia to provide "high-value" data analysis to their customers.