RealTime IT News

Art Technology Group Closes $7.5 Million Financing

Art Technology Group (ATG), the developer of the Dynamo Relationship Commerce product suite for online commerce and personalization applications, said it completed a $7.5 million round of equity financing.

Lead investor in the placement was Tudor Investment Corp., a fund management and proprietary-trading organization, joined by institutional investors Gemini Investors. The new investors join previous investor, SOFTBANK Ventures Inc.

ATG said it will use the funding to grow its sales and marketing infrastructure as well as to expand its partnership and distribution channels.

ATG customers include Sun Microsystems, Sony, BMG Music, Eastman Kodak, John Hancock, EDS, Coopers and Lybrand and Newbridge Networks.

"The quality of Art Technology Group's customer base is clear evidence of the company's ability to deliver leading edge e-commerce solutions," said Bob Forlenza, managing director of the Tudor Private Equity Fund. "We believe that ATG is positioned to emerge as the preeminent supplier of high end e-commerce software and services."

The Dynamo family of Relationship Commerce products offers a suite of Java- based products to meet the scalable and performance requirements of large- scale e-commerce initiatives. The suite includes a high-reliability Web application server and tightly integrated e-commerce capabilities for site development, personalization, selling and advertising management.