Monday, January 9, 2012

ClickSquared collects $9M in new funding round

By Rodney H. Brown

ClickSquared Inc., a Boston maker of direct marketing software, has closed on a $9 million new funding round led by Waltham-based Staley Capital, to be used to grow the sales force and promote the company’s recent product release, the Cross-Channel Marketing Hub.

In a release from ClickSquared, CEO Wayne Townsend said the funds would also be used to make some infrastructure investments to help handle the planned growth. In addition to Staley, previous investors Flybridge Capital, JMI Equity and ABS Ventures all participated in the round. As part of the financing deal, Amit Basak, general partner with Staley Capital, will join the ClickSquared board, the release noted.

ClickSquared offers products and services in email marketing and delivery, direct mail production, customer analytics and campaign management, and its Cross-Channel Marketing Hub ties all that into database management and customer intelligence tools to provide a campaign management product for enterprise customers.

In December 2010, ClickSquared hired a new CFO in Novell veteran Stephen Henkenmeier, joining ClickSquared from M|C Communications, a medical education provider where he was CFO and executive vice president. Prior to M|C, he was vice president of finance at Novell.

In January 2009, ClickSquared raised $11 million in Series B funding from JMI Equity, ABS Ventures and Flybridge Capital. 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. ClickSquared formed in April 2008 as a result of the 2007 merger between Arizona-based Intrasight and Waltham-based Click Tactics Inc.