Clickability Raises $8 Million

Clickability Inc., a San Francisco-based provider of on-demand web content management solutions, has raised $8 million in Series B funding. Shasta Ventures led the round, and was joined by return backer Convergence Partners. The company has now raised $15.6 million in total VC funding.

PRESS RELEASE

Clickability, Inc., the global leader in on demand Web Content Management, today announced the closing of $8 million in its second round of venture funding. Shasta Ventures led the round, with additional investment from Convergence Partners, which financed Clickability's initial venture capital round.

Clickability's total equity financing amounts to $15.6 million. Shasta Ventures managing director, Ravi Mohan, will join Clickability's board of directors. Prior to co-founding Shasta Ventures, Mohan was a general partner at Battery Ventures where he led eight investments and served on the boards of 12 software and technology-enabled service companies.

Clickability is the first and only Web Content Management (WCM) company to offer a software-as-a-service (SaaS) platform for the entire Web content lifecycle, from content creation to optimization. In addition, the company's platform enables non-technical users to manage sophisticated Web sites, reduce costs, grow revenue, build brands, and foster stronger customer relationships. By combining a world class SaaS platform with on demand infrastructure, just-in-time scalability, legendary customer service, and key strategic technology partnerships, Clickability empowers its media and enterprise customers to focus on differentiation, core competencies, and innovation.

The new funds will be used to capitalize on the explosive growth of the WCM market, further Clickability's global leadership position through increased sales and marketing activities, enlarge its innovative product and software infrastructure development, and continue operational expansion worldwide.

“It's extremely gratifying that such prestigious investment partners believe in the enormous potential of on demand content management and have shown confidence in our leadership position in this market,” said John Girard, Clickability's founder and CEO. “Over the last year and a half, we have more than doubled our business and exceeded our growth expectations — and this is just the beginning. Our ability to succeed and grow directly correlates with businesses' realization that on-premise WCM systems do not — and cannot — meet the pace of innovation today. While we have been cash flow positive for three and a half years, we realize that our long-term success requires supplemental backing from outside capital to continue innovating at a blistering pace while meeting our customer needs for excellent client service, low total cost of ownership, and high ROI.”

Ravi Mohan, Shasta Ventures managing director and newly appointed Clickability board member, said, “We firmly believe that Clickability's domain expertise in on demand Web Content Management, rapid technology innovation, and client-focused corporate culture is unparalleled in the industry. In fact, it places them in a class of their own. The management team's vision and comprehensive understanding of the entire Web content lifecycle, coupled with their accelerated traction in today's market, makes Clickability a truly compelling business.”

Having participated in the initial round of funding, Eric Di Benedetto, general partner and founder of Convergence Partners (and Clickability board member), said, “We welcome Shasta Ventures into this exciting investment. Clickability is aggressively positioned to remain the dominant leader in this market. The company has all the right components for continued and expanding success: an experienced management team with a compelling vision, the right technology platform and installed customer base, and a unique business approach for gaining significant market share in an exploding Web Content Management space.”

Within the last year and a half, Clickability's sales and revenues doubled in size while its sales pipeline more than quadrupled. Since the launch of its flagship on demand platform for WCM, the company has rapidly grown to more than 100 customers, including Fortune 500 companies that target the media and enterprise markets. Clickability has served over 2.5 billion pages to date and over 300 million pages per month, while managing 400 websites with over 6,000 seat licenses. What's more, Clickability powers the largest single on demand WCM deployment in the world with Gray Television. With offices in San Francisco, New York, and London, the company continues to build on this success with repeated customer wins including Amcor International, Cantor Fitzgerald, The New York Times, The Wall Street Journal, The Star Tribune Company, CNN, Dwell Magazine, Cox, Hoover Institute, NBC and Sky.

About Clickability, Inc.

Clickability is the global leader in on demand Web Content Management. Through passionate customer service, innovative technology and strategic partnerships, Clickability enables customers such as CNN, The Wall Street Journal, Cantor Fitzgerald, The Star Tribune Company, and Amcor International to reduce costs, increase revenues, build brands, and foster stronger customer relationships. Founded in 1999, Clickability is privately held and headquartered in San Francisco. For more information, call 866-276-4580 or visit http://www.clickability.com/.