E-Mail Marketer iContact Raises $40 Million

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iContact, which sells e-mail marketing software enabling businesses to send out mass e-mails and newsletters, has raised $40 million in a huge second round from PE firm JMI Equity. The company, which had previously raised $13 million in funding, says in its announcement that it will use the cash to “make significant investment in sales and marketing, back-end technology, our product features and usability” and “global expansion.” It has surpassed $40 million in annualized sales — and is already hinting at an IPO to come.

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