ActivePath Secures $10 Million Series B Financing
Battery Ventures and Gimv join Genesis Partners to lead round of growth financing
NEW YORK, NY – September 19, 2011 –ActivePath™, developer of ActiveMail™ Interactive Email and Messaging solutions, announced today that it has secured a $10 million financing round led by Battery Ventures and Gimv NV, with participation from existing investors including Genesis Partners. ActivePath will deploy the capital to accelerate product development and drive sales and marketing penetration in the Americas and Europe. In connection with the funding, Scott Tobin, General Partner at Battery Ventures, and Steven Coppens, partner at Gimv’s Venture Capital team, will join ActivePath’s Board of Directors.
“Email marketing is an enormously huge and rapidly growing market that’s on the cusp of a major transformation. Whether it’s commercial or personal banking, bill pay or just about any transaction over the web, all of the processes for making them efficient and customer friendly converge with ActivePath’s solution,” said Scott Tobin, Battery Ventures General Partner. “We’re thrilled to be backing such a sharp and experienced team, and are anxious to get to work helping the company build and successfully scale into its next phase of growth.”
“We are thrilled with this opportunity, as it will change the use of email as we know it,” said Steven Coppens, partner at Gimv’s Venture Capital team. “Gimv is always on the lookout for technologies that improve the interaction between companies and their customers. ActivePath’s interactive email is doing this exactly by providing its clients with an unprecedented user experience.”
“ActivePath technology is revolutionizing email messaging and enabling companies to have more profitable interactions and transactions with their customers,” said ActivePath CEO, Renan Levy. “Our unique technology is attracting attention and gaining adoption with banks, credit card issuers, ecommerce companies and other email senders in the Americas and EMEA. With this round of funding, we are honored to welcome Battery Ventures and Gimv as investors and to our Board of Directors. We look forward to their involvement as we continue to build momentum and grow our customer base in both the Americas and Europe.”
ActivePath’s unique, patent-pending technology delivers a push email channel that enables banks, card issuers and ecommerce companies to provide a far higher level of service to customers by delivering secure real-time, interactive and personalized offers that drive interaction and transactions. ActivePath gives institutions a competitive edge – a whole new way to provide a full range of secure, interactive, 24/7 banking and other services at the customer’s convenience via desktop, laptop, mobile and i-devices, resulting in cost effective and more efficient, targeted products and cross-sales for enhanced customer acquisition and retention.
About Battery Ventures:
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company’s life, from start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (NASDAQ: AKAM), BladeLogic (acquired by BMC Software), Cbeyond (NASDAQ: CBEY), ITA Software (acquired by Google), LIFFE (acquired by Euronext), MetroPCS (NYSE: PCS), Neoteris (acquired by Netscreen), Omniture (acquired by Adobe) and Skullcandy (NASDAQ-GM: SKUL).
Its current portfolio includes emerging and more established firms such as Angie’s List, Bazaarvoice, BlueKai, Exact Target, Fingerhut, Groupon, Opscode, Redwood Systems and VSS Monitoring. www.battery.com.
Gimv is a European investment company with 30 years’ experience in private equity and venture capital. The company is listed on the NYSE Euronext Brussels and currently manages around 1.9 billion EUR (including third party funds). Gimv invests in buyouts and provides growth financing to established companies. Gimv also invests venture capital to companies operating in the Life Sciences, Technology and Cleantech industry. For this Gimv can call upon local teams in Belgium, the Netherlands, France and Germany, as well as an extended international network of experts. Gimv approaches specific activities or certain countries through specialised funds,sometimes in collaboration with experienced partners. Examples of this are Gimv-XL, Gimv-Agri+, DG Infra+ and DG Infra Yield. For more information about Gimv, please visit: http://www.gimv.com.
ActivePath’s unique, patent-pending and secure ActiveMail™ Interactive Email and Messaging solutions enable organizations to communicate and interact with customers in real-time, enabling customers to transact banking and other services from within email. ActivePath’s technology empowers banks to redefine and innovate the scope and caliber of their banking services and enhance overall customer experience by adding event-triggered marketing and alerts that enable customers to perform specific transactions, such as transfers, debits and payments, and credit extensions and payments, directly within an email. Using ActivePath’s secure email communications and transactions reduce costly paper, mailing and call-center expenses while adding a whole new level of convenience, freeing customers to interact and transact through their email or mobile device anytime and anywhere. Founded in 2007, ActivePath sells to banks and financial institutions, card services and ecommerce companies in the United States, Europe, Latin America and Asia. Learn more at: www.activepath.com.
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