Aprimo Completes $12 Million Funding

Enterprise marketing solutions provider, Aprimo Inc. said it has raised $12 million in its fourth round of funding in order to continue product development and marketing. Previous financial investors, including venture firms Sigma Partners, First Analysis Venture Capital, and Frazier Technology Ventures renewed their commitment to Aprimo in the current round of funding.They were joined for the first time by JEGI Capital, a venture capital fund focused on the use of new technologies in traditional media and marketing communications. The privately held company declined to disclose how much each venture firm invested. The company's last round of funding closed August 30, 2000 and totaled $20 million, The previous other two rounds of funding were for $9.5 million and $4.5 million and came in 1999 and 1998, respectively. That brings Aprimo's total funding to $48 million. Aprimo's flagship product is Aprimo Marketing, a web-based platform that lets marketers manage direct and e-mail marketing campaigns, sales leads, events, finances, web responses, and marketing communications and planning. Enterprise clients including Compaq, a wholly owned subsidiary of Hewlett-Packard Inc., Burger King Corp. and Pfizer Inc. as well as small to medium-sized businesses, use the product, which launched in 1998. Bob Davoli, managing director of Sigma Partners, a venture capital firm with more than $700 million under management says his fund reinvested in Aprimo because of its strong position in the market. Roger Krakoff, managing director of JEGI Capital, a new investor in Aprimo, says the company has been building its success against a carefully executed plan and is achieving its financial and customer satisfaction goals.