Topica Inc., San Francisco, said Monday it has secured $28 million in equity financing in another round of fundraising led by Morgan Stanley Dean Witter Private Equity and European venture capital firm TLcom Capital Partners.
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.