Wednesday, September 22, 2010

CrownPeak Raises $1.75M in Series C

Los Angeles-based CrownPeak, a developer of web content management systems (CMS), has raised $1.75M in a Series C funding round, according to a regulatory filing by the firm today. Jim Howard, CEO of CrownPeak, told socalTECH that the funding came from Sigma Partners and SunAmerica Ventures. CrownPeak develops software used by companies to easily modify and maintain web sites, without requiring web designers to make those changes. The firm's software-as-a-service tools are used by customers such as Nissan, Earthlink, and Skype. The funding brings the company's total raised to around $12.0M. Howard said that the firm's board decided to raise more equity to accelerate expansion, citing "strong growth" through marquee customer wins and a large addressable market for software-as-a-service, web content management. More information »

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