Tuesday, January 6, 2009

ClickSquared hits $11M in Series B funds

By Galen Moore

ClickSquared Inc. announced it has clicked with JMI Equity, Waltham-based ABS Ventures and Flybridge Capital Partners of Boston for $11 million in Series B funding.

ClickSquared aims to enable its customers to choreograph direct marketing initiatives across several media. The company in 2008 acquired UK-based Rocket Science in an effort to increase its European market presence. ClickSquared counts among its customers ARAMARK, Boston Celtics, Cable One, Dr. Pepper/7-Up and the Four Seasons Hotels and Resorts.

The Waltham-based company formed last April as a result of the 2007 merger between Arizona-based Intrasight and Waltham-based Click Tactics Inc. The Series B round brings the merged companies’ total funding to at least $46 million, according to published reports.

ClickSquared also announced the promotion of long-time company COO Wayne Townsend to the CEO position, replacing Andrew Frawley. Frawley, the former CEO of Click Tactics, was the founder and CEO of Exchange Applications Inc.

Prior to his five-year tenure at ClickSquared, Townsend was president and CEO at Elity Systems Inc. He also advised Exchange Applications through its transition to an initial public offering,  according to ClickSquared officials.