LONDON, July 21, 2004 (PRIMEZONE) -- Touch Clarity, an enterprise software provider offering an automated, real-time targeting and revenue optimization platform for consumer facing websites, today announced that it has raised $6.7 million in Series A venture capital funding co-led by JVP and Alta Berkeley. Existing investor, The Capital Fund also participated in the round.
Touch Clarity's software learns which content and propositions will most effectively drive revenue from online visitors and automatically targets them with that content. Developed by leading software developers in conjunction with a world-class academic team from the field of real-time learning, Touch Clarity's solution uses artificial intelligence to tailor content for both new and returning visitors to a site. Using transparent auditing technology, Touch Clarity enables its customers to see the uplift in revenue from day one of operation.
Founded in 2000 by CEO Paul Phillips, Touch Clarity has attracted top tier clients such as MSN, British Telecom, HSBC, Lloyds TSB and Capital One and draws customers from broad industry categories including: financial services, internet service providers, web portals, automotive and gaming sites.
In parallel with the investment, the Board and management team have been strengthened with the appointments of David Richmond as Executive Chairman (ex-CEO of Striva, recently acquired by Informatica), JVP Directors Laurel Bowden and Haim Kopans (former CTO of Precise Software recently acquired by Veritas) and Tim Brown of Alta Berkeley.
"We are delighted to have closed funding from two world-class investors. The proceeds from the JVP and Alta Berkeley investments will support the continued expansion of our business and drive increased sales, particularly in the U.S.," said Paul Phillips, founder and CEO of Touch Clarity.
Laurel Bowden, a partner at JVP added: "We are pleased to be investing in Touch Clarity at this important time in the company's development. Touch Clarity has the technology to deliver significant added value to its customers and the growth opportunities in this market continue to rise dramatically. The geographical breadth of Touch Clarity's offering, with brand name customers in the U.S. and Europe, gives the company a strong platform to continue to build its business worldwide."
Tim Brown, a Partner at Alta Berkeley, commented: "Investing in Touch Clarity's business at this time reflects Alta Berkeley's strategy of investing in unique technological businesses with strong management teams and global reach. We believe Touch Clarity has potential to be a category-defining player in its marketplace; this funding provides the resources to achieve this vision."
Touch Clarity was founded in 2000 with the goal of providing accountable targeting and optimization technology for interactive channels. Touch Clarity's optimization software makes websites and other interactive channels more effective by targeting the most appropriate content to each visitor and maximizing the revenue opportunity from every visit. With Headquarters in London, England Touch Clarity services blue chip clients in Europe, The United States and Asia. For further information about Touch Clarity, visit www.touchclarity.com.
JVP is a leading Israeli venture capital firm focusing on investments in early stage companies in the enterprise software & networking, semiconductors & components and communications & mobile infrastructure sectors. With over $680 million under management, and offices in Jerusalem, New York, London and Tokyo, JVP leverages its international presence, vast expertise and substantial capital base to build companies with the potential to shape and dominate global markets. To learn more about JVP, visit www.jvpvc.com.
Alta Berkeley is a London-based venture capital firm focusing on the next generation of leading technology companies in communications and computing across Europe and Israel. Founded in 1982, Alta Berkeley is modelled on a US-style VC firm. Its partners have deep operational experience of successfully launching and managing technology businesses in both the private and public markets and take a hands-on approach with their portfolio companies. Alta Berkeley has raised and invested six funds since 1982, all of which have provided superior returns for institutional investors and has been responsible for over 50 exits via acquisition or IPO. To learn more about Alta Berkeley, visit www.altaberkeley.com.