Vovici Offering Raises $5.7m

US survey software firm Vovici has raised $5.7m of a targeted $6.3m equity offering, from early investors Austen Ventures and The Mayfield Fund.

Vovici provides survey systems, panel management software and online community solutions for gathering customer and employee opinions. Last year, the firm partnered with London-based Verve to provide fully serviced customer communities and advisory panels for corporate clients in Europe.

According to an SEC regulatory filing, the latest funding was led by previous investors Austen Ventures and The Mayfield Fund, who contributed $10m to Vovici in a Series B round of investment two years ago.

Separately, yesterday Vovici reported a 40% first quarter increase in sales of new SaaS solutions and a 156% rise in sales to existing customers versus Q1 2009. The firm says this is the largest first quarter of sales revenue in its history, and that it added more than 50 new customers in the quarter.

'Our unprecedented results for the first quarter reflect a clear trend that Voice of the Customer initiatives have tangible ROI and have become an executive level priority,' stated Chairman and CEO Greg Stock. 'Our continued investment and innovation has positioned us well to solve our customers' problems and capitalize on this trend.'

Web site: www.vovici.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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