VCs Target ExactTarget for Cash
Another week, another big round of venture capital flowing into a Web-marketing company’s coffers.
This time, it’s $30 million heading to an Indianapolis, Indiana-based software company that manages marketing efforts for other companies. ExactTarget, which handles e-mail marketing for Portfolio.com parent American City Business Journals, Gannett, Expedia and others, raked in the funding in a round led by Technology Crossover Ventures with participation from existing investors, including Battery Ventures, Scale Venture Partners and Greenspring Associates.
The funding round followed a successful first quarter for ExactTarget, which saw revenue growth of 52 percent. The company has had 41 straight quarters of revenue increases.