Topica Gets $28M in Financing
Topica offers free hosting, archiving, promotion and advertising services to individuals or companies that own e-mail newsletters and discussion groups. The company hosts tens of thousands of e-mail newsletters, counts more than 10 million subscriptions and delivers more than 250 million e-mails per month.
As part of the agreement, TLcom Managing Director Maurizio Caio will join Topica's board of directors.
Caio also is the former head of Bain & Company's Telecom/Technology Group. Previous Topica investors August Capital, Highland Capital Partners, Moore Capital Management, Draper-Richards and Angel Investors also participated in this round.
The latest funding comes less than two weeks after Yahoo announced its plans to acquire Topica competitor eGroups in a stock swap valued at $428 million.