WebTone wins $20 million funding; strikes deal with HP
06 November 2002 | 2316 views | 0
Atlanta-based campaign management and CRM vendor WebTone Technologies has secured $20 million in equity funding, led by Technology Crossover Ventures, as it bids to extend its presence in the financial services industry.
The financing round also includes an individual contribution from Michel Akkermans, chairman and CEO of the Belgium-based e-finance company, Clear2Pay. Akkermans, a former executive chairman of FICS and S1 Corporation, joins WebTone’s board.
Jay Hoag, founding partner at TCV, comments: "WebTone has delivered 65% compounded revenue growth over the last three years. TCV’s investment in the company underscores our belief that WebTone has targeted a substantial market and will be a growing force in helping financial institutions achieve their goals of predictable, consistent, and profitable customer interactions across the entire enterprise."
The investment comes off the back of a major deal with ABN Amro North America for the use WebTone's TouchPoint sales management solution for co-ordinating customer campaigns in the US.
WebTone has also entered a deal with HP to deliver solutions targeted at the top 100 financial services institutions in North America. It follows a similar agreement struck with Microsoft in June.
In addition to co-marketing and systems integration support, HP Services will provide customers with managed services and hosting capabilities while HP Financial Services will provide customers with leasing and asset management options.
The two companies recently worked with a large US insurer to deploy TouchPoint’s e-mail, secure messaging, Web-based self-help and contact management capabilities to more than 60,000 desktops. They says the implementation has enabled the firm to capture, store and disseminate more than 200 million customer interactions to more than 17,000 locations across the United States and Canada.
Rounding off a rash of initiatives, WebTone has also released a new ToughPoint component designed to facilitate tight coordination between corporate sales objectives and local market sales management. The TouchPoint Sales Management module extends the existing sales capabilities of the package by providing tools for market planning, campaign generation and tracking, and employee and organisational performance management.