iContact, the Raleigh-Durham, NC-based e-mail marketing and newsletter software firm, has received $5 million in debt financing, from North Atlantic Capital. The new money will be mainly used in in sales and marketing efforts, the company said. It raised about the same amount in its first venture capital round last year from Updata Partners and IDEA Fund Partners.
Based in Raleigh-Durham, NC, iContact markets one central web application that lets users create e-mail newsletters, blogs, RSS feeds, surveys and autoresponders. It competes with tons of other e-mail software firms like ConstantContact, ExactTarget and others. More info in release.
By Rafat Ali