Web Analytics Firm Coremetrics Raises $60 Million

Authored by Mark Hefflinger on April 4, 2008 - 8:02am.

San Mateo, Calif. - Coremetrics, a provider of hosted Web analytics and marketing software, said on Friday that it has raised $60 million in its fifth round of funding, led by 3i.

Previous investors Accel Partners, FTVentures and Highland Capital Partners also participated in the round, which the company plans to use to expand its sales and marketing activities.

San Mateo, Calif.-based Coremetrics said that it has increased its client base by 46% over the past year, signing new customers such as Aeropostale, Diageo, DietTV, K-Swiss, Publishers Clearing House and Robbins Bros.

The company's software includes engine bid management, email marketing and cross sell applications designed to help clients optimize their marketing efforts.