December 3, 2002
Roving Software, leading provider of Do-It-Yourself Email Marketing(TM), today announced the closing of more than $4.5 million in additional funding from new investor Hudson Ventures and existing investors Morgan Stanley Venture Partners, Commonwealth Capital Ventures and Longworth Venture Partners. The funding will be used to accelerate sales, marketing and development efforts.
"Roving has clearly demonstrated its ability to succeed by building a base of recurring revenue with consistent quarter-to-quarter growth of over 40 percent throughout 2002," said Glen Lewy, senior managing director, Hudson Ventures. "This company has a customer base of over 100,000 users, a product that meets the needs of a large and rapidly growing market, strong partnerships and a solid management team that continues to drive the company past milestone after milestone. We are very pleased to add our support to Roving's roster of committed investors."
"Email marketing has proven itself to be one of the most effective and inexpensive marketing methods available, and Constant Contact(R) is proving itself to be the email marketing solution of choice for small and medium-sized businesses," said Gail Goodman, CEO of Roving Software Inc. "We reach this diverse market through more than 100 channel partners who offer Constant Contact to millions of businesses."
Constant Contact, Roving's Web-based email marketing solution, makes it easy and affordable for small and mid-sized businesses to drive sales and strengthen customer relationships with permission-based email marketing. With Constant Contact, users easily build and manage their email lists, create and deliver professional email communications, and track campaign results automatically. Constant Contact includes over 45 customizable HTML templates, robust reporting and list management capabilities and education in the form of free newsletters, Webinars, tutorials and guidelines within the product. A 60-day free trial is available at: www.constantcontact.com.