E-mail company iContact raises $40 million in funding

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Durham, N.C.—E-mail marketing services company iContact Corp. has raised $40 million in private funding in one of the largest private fundings of a marketing company this year.

IContact said the money, from equity firm JMI Equity, would help it build its client base beyond its current 65,000 e-mail marketing customers, which include Vonage and LG Electronics. The company said that it would target small and midsize business in the US, and also open offices in Europe and Asia over the next few quarters.

The company, whose technology helps businesses track such e-mail performance metrics as opens and clicks, has raised $18.3 million in its first seven years.

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