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Funding and Hires for Fledgling Analytics Firm
Web customer analytics provider iPerceptions Inc. has reported a 30% increase in revenues for the third quarter of 2008 compared to the same period last year. The firm, which made a net loss of $668,641, has also secured $3.65m in funding and made two senior hires.
For the quarter ended September 30, 2008, revenue was $1.1m. Net loss rose from $469,146 last year, which the company said was 'mostly attributable to the increase in sales and marketing expenses to acquire new business and research and development activities'.
Len Emmick joins the firm as VP of Global Sales and Bernard Dumais steps in as interim CFO. Emmick has 20 years of executive leadership and sales experience from firms including IBM, Infinium Software, and Honeywell, and was most recently Senior VP of Sales at mobile marketing company Air2Web.
The funding round, a private placement financing of convertible debentures valued at $3,650,000, was concluded on November 26, and is intended to meet future working capital requirements and implement the company's commercialization plan. iPerceptions says its free survey tool, 4Q, recently announced its one millionth survey respondent and has been used by several thousand companies.
CEO and President Jerry Tarasofsky says 4Q has helped the firm to 'gain considerable mind share in the web analytics and interactive marketing space.' Of launching amid the current crisis, he adds: 'The timing could not be better - the state of the global economy is forcing companies to listen to what their customers want and need in order to survive.'
The company, which offers strategic and tactical decision support for web site marketers via its webValidator Continuous Listening solution and Proprietary iPerceptions Satisfaction Index (iPSI), has offices in New York, Toronto, Montreal and London. Web site: www.iPerceptions.com .
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