iContact Secures $5.35 Million in Funding

iContact, provider of the leading email marketing and blogging application, today announced it has secured $5.35 million in funding to increase its marketing and customer acquisition efforts. The funding round was led by Updata Partners with participation from North Carolina-based venture firm IDEA Fund Partners. The company recently changed the name of its service to iContact and its corporate name to iContact Corporation.

I asked Ryan Allis, iContact CEO, for a quote about the funding, "iContact is very excited to have these funds to enable our aggressive growth plans to be the leading provider of on- demand online communications software. Updata has been great to us so far and we are excited to work with them."

Carter H. Griffin of Updata Partners, has joined the iContact Board of Directors. “iContact is an established leader and innovator in areas where we see tremendous growth and opportunity, serving small-to-medium sized businesses with sophisticated, integrated online marketing solutions in an on-demand delivery platform,” said Griffin.  “We look forward to working with the dynamic team at iContact to rapidly scale the company.” 

iContact currently has 11,500 customers and is based in Raleigh-Durham on the east coast. iContact will use the new funds to expand marketing initiatives, increase customer acquisition, and support product development efforts. The company currently employs 58 people and expects that number to grow to over 100 in the next 18 months. Pricing begins at $9.95 monthly for 500 subscribers and the company works with both small and large organizations.