ThinkVine lands $1.85m investment
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US-- Marketing planning software developer ThinkVine has secured $1.85m in Series B financing from four private equity firms.
Venture capitalists Draper Triangle, DFJ Portage, CincyTechUSA and Fort Washington Capital Partners participated in the second round of funding and the cash will be used on research and development, sales and marketing efforts.
The same four investors pumped $1m into ThinkVine in February 2008.
Ed Chandler, managing director at DFJ Portage, said: “ThinkVine's value proposition of delivering more efficient and effective marketing spending becomes even more compelling in a tough economy. By injecting agility and responsiveness into the planning process, we think the company is mapping consumer marketing for the future.”
The firm's main product, The Emerging Marketplace, allows marketers in the CPG, food and beverage and technology sectors to identify and maintain the right balance of marketing and advertising based on models of consumer behaviour.
Author: James Verrinder
