RealTime IT News

net.Genesis Secures $7 Million In Second-Round of Financing

Cambridge, MA-based net.Genesis announced a second round of $7 million in venture capital financing from three firms: Charles River Ventures and Bessemer Venture Partners, its two original investors, and OneLiberty Ventures of Boston.

Stephen Ricci, a OneLiberty Ventures partner, will join the net.Genesis board of directors.

net.Genesis, founded in 1994 by several MIT graduates, markets net.Analysis, a Web site traffic analysis tool used by hundreds of companies including E*Trade, Fidelity Investments, Bell Atlantic, Apple Computer, Knight Ridder, and Xerox.

The company recently ramped up sales in Europe through a network of "boutique" resellers, and as a result has gained customers like BBC Online and Barclay's Bank, said CEO Larry Bohn.

net.Genesis recently created a "channel partner" program to help design firms and interactive agencies analyze their clients' site traffic, and will license development tools that help designers create sites that are easy to track, Bohn said.