Despite Recession, ExactTarget Raises A Whopping $70 Million For Marketing Software

Marketing email software provider ExactTarget has secured $70 million in funding led by Battery Ventures, with Scale Venture Partners and Montagu Newhall participating. The company says it will use the money to expand its international presence.

The company says that the $70 million is a similar level of funding it sought to raise in its December 2007 application for an initial public offering. ExactTarget will delay its IPO plane and has withdrawn its application with the SEC to trade on the Nasdaq under the symbol EXTG.

ExactTarget’s software provides enterprises with email marketing platform that powers everything from email coupon offers and automated fraud alerts to e-statements and SMS text messages. ExactTarget’s software provides email marketing tools for a widespread group of big-name clients, including CareerBuilder.com, Expedia.com, the Gannett Co., and The Home DepotThe software is also integrated on Salesforce.com’s AppExchange and Microsoft Dynamics CRM.