CrownPeak, a Los Angeles-based provider of online content management software, has raised $6 million in Series B funding. SunAmerica Ventures led the round, and was joined by return backers Sigma Partners and Altos Ventures.
CrownPeak (www.crownpeak.com), the company defining the future of content management, today announced it has closed $6 Million in a second round of financing, bringing its total raised in two rounds to $10.25 Million. SunAmerica Ventures was the lead firm in this round, with additional financing from existing investors Sigma Partners and Altos Ventures, both of CrownPeak's Series A investors.
The company will use the funds to accelerate new product development initiatives, and further its leadership position in the content management industry with ongoing investments in marketing. Troy Fukumoto from SunAmerica Ventures will join the CrownPeak board, which includes Jim Howard and Carl Sutter from CrownPeak, Bob Spinner from Sigma Partners and Anthony Lee from Altos Ventures.
“Adding SunAmerica to our investment group, along with the renewed commitment of our initial investors is great news for CrownPeak and our customers,” said Jim Howard, chief executive officer of CrownPeak. “CrownPeak has fundamentally changed the way organizations manage web sites. Because we're a customer-focused software service, it's our job to make our customers happy. We'll be using this new investment money to continue to improve and expand our products and services with our focus on customer value.”
“We are pleased to have CrownPeak join SunAmerica Ventures' investment portfolio,” said Troy Fukumoto, Managing Director with SunAmerica Ventures. “When you combine market factors with the strength of the CrownPeak team and their track record of success, it made for a compelling investment opportunity.”
“CrownPeak is fortunate to be working with three prestigious and highly experienced firms,” said Howard. “In addition to financial backing, our partners have the experience to help guide our business over many years of sustained high growth.”
CrownPeak is the market leader in on-demand web site software. CrownPeak's unique combination of software and services give Web site managers complete control over the critical functions involved in delivering a successful, revenue-driving Web site.
Hundreds of diverse organizations such as 3M, ING, Hyundai Motors, Home Depot, EMI Music, the State of