iContact Receives $40M Investment from JMI Equity

iContact, a Durham, North Carolina-based provider of email marketing services for small and medium sized businesses, has received a $40m Series B strategic investment from JMI Equity.
The company provides email marketing software to over 65,000 customers across the globe. Its solutions simplify and automate the process of creating, sending and tracking email communications.
As stated by Ryan Allis, CEO and co-founder of iContact, the company will use the majority of these new funds “to make significant investments in sales and marketing, back-end technology, our product features and usability, global expansion, and of course our people that drive all of our success”.
In conjunction with the investment, Brad Woloson, JMI General Partner, and Jit Sinha, JMI Principal, will join iContact’s board of directors.

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