Angara Gets $20 Million Investment
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Online marketer Angara Friday completed an additional round of funding, picking up $20 million from new and previous investors.
Early stage venture capital fund Venture Strategy Partners led the funding. VSP partner Tony Conrad joins Angara's board of directors through the deal.
Other investors included Kleiner Perkins Caufield & Byers, VantagePoint Venture Partners, JMI Equities, and Hook Partners, all of which invested in the company during previous funding rounds.
At least one other company participated in the funding. A representative from Mountain View, Calif.-based Angara confirmed that the additional investor is a publicly traded "leading eCRM company," but declined to specify further.
Executives from Angara said its new cash injection represents strong support for the company's value proposition. The company makes software that allows Web sites to track and deliver specific, targeted content to anonymous site visitors using profiling.
The company has database- and product-sharing agreements with several profiling and marketing firms, including Engage, MatchLogic and Net Perceptions.
"The collective base of knowledge, leadership and funding provided by this group of investors affords us the ability to push the envelope in developing and delivering world-class solutions that offers e-businesses the services and technology to truly understand and capitalize on the behavior of online customers," said Angara president and chief executive Mark Metcalfe.
Proceeds from the financing will be used as working capital for developing new products, expanding the company's direct sales channel and launching new corporate marketing initiatives.