SAN FRANCISCO, Feb. 4 /PRNewswire/ -- Clickability, Inc., the global
leader in on demand Web Content Management, today announced the closing of
$8 million in its second round of venture funding. Shasta Ventures led the
round, with additional investment from Convergence Partners, which financed
Clickability's initial venture capital round.
Clickability's total equity financing amounts to $15.6 million. Shasta
Ventures managing director, Ravi Mohan, will join Clickability's board of
directors. Prior to co-founding Shasta Ventures, Mohan was a general
partner at Battery Ventures where he led eight investments and served on
the boards of 12 software and technology-enabled service companies.
Clickability is the first and only Web Content Management (WCM) company
to offer a software-as-a-service (SaaS) platform for the entire Web content
lifecycle, from content creation to optimization. In addition, the
company's platform enables non-technical users to manage sophisticated Web
sites, reduce costs, grow revenue, build brands, and foster stronger
customer relationships. By combining a world class SaaS platform with on
demand infrastructure, just-in-time scalability, legendary customer
service, and key strategic technology partnerships, Clickability empowers
its media and enterprise customers to focus on differentiation, core
competencies, and innovation.
The new funds will be used to capitalize on the explosive growth of the
WCM market, further Clickability's global leadership position through
increased sales and marketing activities, enlarge its innovative product
and software infrastructure development, and continue operational expansion
"It's extremely gratifying that such prestigious investment partners
believe in the enormous potential of on demand content management and have
shown confidence in our leadership position in this market," said John
Girard, Clickability's founder and CEO. "Over the last year and a half, we
have more than doubled our business and exceeded our growth expectations --
and this is just the beginning. Our ability to succeed and grow directly
correlates with businesses' realization that on-premise WCM systems do not
-- and cannot -- meet the pace of innovation today. While we have been cash
flow positive for three and a half years, we realize that our long-term
success requires supplemental backing from outside capital to continue
innovating at a blistering pace while meeting our customer needs for
excellent client service, low total cost of ownership, and high ROI."
Ravi Mohan, Shasta Ventures managing director and newly appointed
Clickability board member, said, "We firmly believe that Clickability's
domain expertise in on demand Web Content Management, rapid technology
innovation, and client-focused corporate culture is unparalleled in the
industry. In fact, it places them in a class of their own. The management
team's vision and comprehensive understanding of the entire Web content
lifecycle, coupled with their accelerated traction in today's market, makes
Clickability a truly compelling business."
Having participated in the initial round of funding, Eric Di Benedetto,
general partner and founder of Convergence Partners (and Clickability board
member), said, "We welcome Shasta Ventures into this exciting investment.
Clickability is aggressively positioned to remain the dominant leader in
this market. The company has all the right components for continued and
expanding success: an experienced management team with a compelling vision,
the right technology platform and installed customer base, and a unique
business approach for gaining significant market share in an exploding Web
Content Management space."
Within the last year and a half, Clickability's sales and revenues
doubled in size while its sales pipeline more than quadrupled. Since the
launch of its flagship on demand platform for WCM, the company has rapidly
grown to more than 100 customers, including Fortune 500 companies that
target the media and enterprise markets. Clickability has served over 2.5
billion pages to date and over 300 million pages per month, while managing
400 websites with over 6,000 seat licenses. What's more, Clickability
powers the largest single on demand WCM deployment in the world with Gray
Television. With offices in San Francisco, New York, and London, the
company continues to build on this success with repeated customer wins
including Amcor International, Cantor Fitzgerald, The New York Times, The
Wall Street Journal, The Star Tribune Company, CNN, Dwell Magazine, Cox,
Hoover Institute, NBC and Sky.
About Clickability, Inc.
Clickability is the global leader in on demand Web Content Management.
Through passionate customer service, innovative technology and strategic
partnerships, Clickability enables customers such as CNN, The Wall Street
Journal, Cantor Fitzgerald, The Star Tribune Company, and Amcor
International to reduce costs, increase revenues, build brands, and foster
stronger customer relationships. Founded in 1999, Clickability is privately
held and headquartered in San Francisco. For more information, call
866-276-4580 or visit http://www.clickability.com.
SOURCE Clickability, Inc.