The Insider's Guide to Business and IT Agility
The Insider's Guide to Business and IT Agility
05/13/2004
Omniture, a provider of Web analytics to large, complex Web sites, has closed a $14.5 million round of venture capital funding, lead by Hummer Winblad Venture Partners. Mark Gorenberg, a partner at Hummer Winblad Venture Partners, will join the company's board of directors.
Omniture offered these details:
Omniture develops and markets SiteCatalyst, which has been designed specifically for the needs of enterprise companies to monitor visitor and commerce activity, identify specific points of change, and drive business decisions that increase ROI. Omniture's unique commitment to responding to customer needs in developing advanced solutions and cutting-edge technology has resulted in the highest client retention in the industry and an impressive client list, which includes eBay, Time Warner, Gannett, Microsoft, Oracle, Intel, Overstock.com, GM, Hewlett-Packard and VeriSign.
Omniture, with a long tradition of innovating to meet the real-world needs of its customers, develops and markets SiteCatalyst, an enterprise-level Web analytics tool used by the world's leading online marketers including 3 of the top 5 Fortune-ranked corporations. Omniture, which recently reported that the first quarter of 2004 represents the 12th consecutive quarter of growth, and sixth consecutive quarter the company has been profitable, today announced the funding will act as a catalyst to accelerate training and technology development, sales and marketing efforts and to support infrastructure investment warranted by a burgeoning client base. "We were immediately impressed by the Omniture team, the sustainability of their business model and the loyalty of their marquee client base," said Mark Gorenberg of Hummer Winblad Venture Partners. "The company has been a visionary in developing solutions to meet the online marketing intelligence needs of today's complex enterprise. Their ability to execute on that vision, coupled with their growth and profitability record, indicates great potential for sustainable success." "Hummer Winblad's investment in Omniture is a testament to our hard work and the company's commitment to our customers," said Josh James, CEO and co-founder of Omniture. "It also represents a belief in Omniture's position as a driving force in the marketing intelligence industry. We're pleased to receive the support of Hummer Winblad and look forward to the opportunities for strategic expansion that this funding will afford the company."
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