Web analytics provider Coremetrics has raised a big $60 million fifth round funding. The round was led by 3i. Previous backers Accel Partners, FTVentures and Highland Capital Partners returned for this round as well. Coremetrics said it will use the proceeds to ramp up sales growth and general marketing efforts.
While $60 million is an usually large amount for this type of funding, it's not atypical for Coremetrics. In March 2006, the San Mateo, CA.-based company secured a $31 million fourth round, according to an Alarm:Clock post at the time. Despite previous reports saying that the company had raised a total of $175 million, a Coremetrics rep told paidContent that it its total funding to date is $111 million since opening its doors in 1999. It competes with the likes of Nielsen-owned NetRatings, ComScore (NSDQ: SCOR) and others. Release
By David Kaplan