ExactTarget Gets $10.5 Million Funding

Share this content:
E-mail service provider ExactTarget received a $10.5 million round of venture financing from Insight Venture Partners, the company said this week.

It is the first outside funding for the Indianapolis-based e-mail service provider, which boasts more than 2,400 customers use Web-based e-mail marketing platform, from small organization to large marketers like Home Depot, General Mills and Bristol-Myers Squibb. It also licenses its e-mail platform to 250 agency partners. ExactTarget was founded in late 2000 and claims it has been profitable this year. It has 30 U.S. sales offices.

ExactTarget said it will use the financing for product development, sales and marketing initiatives, and to beef up its customer service.

ExactTarget president Scott Dorsey said spam's complications for e-mail marketing has probably helped the company grow.

"It's been a big catalyst for our business," he said. "Companies still view e-mail as a very viable business tool, and outsourcing it to experts like ExactTarget makes more sense."

In a recent report, Forrester Research ranked ExactTarget as a "strong performer" in its evaluation of e-mail service providers. The researcher praised the company's e-mail platform for its ease of use and capability to manage compliance with CAN-SPAM requirements.

Insight Venture Partners, New York, which manages more than $1 billion of capital and has invested in more than 90 companies, will get two seats on ExactTarget's five-member board of directors.

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above