Click Tactics Completes $11 Million Financing, IDG Ventures Joins Original Company Investors for Final $3 Million
WALTHAM, MA – February 7, 2005 – Click Tactics, Inc., an innovator in the production and execution of complex direct marketing programs for Fortune 500 companies, today announced the company has secured new funding from IDG Ventures to complete its latest recapitalization round. The recent round also included Click Tactics’ investors, TH Lee Putnam Ventures and the Wakefield Group, as well as a number of the company’s original individual investors, bringing the total amount raised to $11 million. The latest funds will be used to complete product integration efforts following Click Tactics’ October, 2004, acquisition of e-mail and multi-channel marketing innovator, Britemoon, Inc., as well as to support the company’s continued business expansion.
The company also announced that IDG Ventures General Partner, Jeff Bussgang, has joined the Click Tactics board of directors. “IDG Ventures has a strong track record of investing in world-class companies that have gone on to become leaders in their respective industries,” said Andrew J. Frawley, CEO of Click Tactics. “We’re delighted to have the opportunity to benefit from Jeff’s valuable market perspective as a venture capitalist and former executive at Open Market and marketing services firm, Upromise. We’re also very pleased to have the continued support and confidence of some of Click Tactics’ early investors, as evidenced by their participation in this latest round.” Click Tactics recently completed its strongest quarter in the company’s five-year history with record revenue.
Bussgang said, “Click Tactics addresses a major pain point for direct marketers – the ‘execution bottleneck.’ Too often, highly targeted, personalized marketing programs never make it off the shelf due to an organization’s inability to effectively execute these complex programs. Click Tactics solves that problem for some of the world’s largest direct marketers.”
Click Tactics’ automated and highly-customized direct marketing processes turn companies’ customer information into timely and targeted marketing communications. Click Tactics aggregates all the complexities of highly-granular customer data, external events and product offerings and configures them into a set of automated business rules, which act continuously to execute the appropriate direct marketing communications at the right time. Its Web-based solution enables fast, frequent and relevant communications, helping its clients to strengthen customer relationships and dramatically improve marketing ROI.
About IDG Ventures
IDG Ventures is a global venture capital firm with approximately $700 million under management and a portfolio of over 125 companies built over the last 12 years. With offices in Boston, London, San Francisco, Seattle, and throughout China and Vietnam, the firm invests in early-stage companies, partnering with entrepreneurs to build category leaders. The firm's limited partner, International Data Group (IDG), is the world's largest IT media, research, and event company. Through this partnership, IDG Ventures can uniquely add value to its portfolio companies by facilitating revenue acceleration and global expansion and establishing relationships with key strategic partners. For more information, visit www.idgventures.com.
About Click Tactics, Inc.
Click Tactics specializes in the efficient production and execution of complex, highly profitable direct marketing programs for Fortune 500 companies around the world. Using a proprietary Web services solution that significantly streamlines and automates the marketing process, the Click Tactics team works with clients to execute synchronized direct mail and email campaigns faster and more accurately than ever before, with measurable return on investment. Customers such as Bank of America, Marsh & McLennan, Bankers’ Life & Casualty, FedEx, BeNOW and Ben & Jerry’s have partnered with Click Tactics to cement customer relationships, cross-sell more effectively and improve lead quality to distributed agents. For more information on Click Tactics, visit the company's Web site at http://www.clicktactics.com.
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