ExactTarget Adds Technology Crossover Ventures to Board of Directors and raises $70 million. The company, a global provider of on-demand email marketing and one-to-one marketing solutions, announced today that David Yuan of Technology Crossover Ventures (TCV) has joined its board of directors following an investment in the company by the Silicon Valley-based venture fund.
"David and the TCV team bring tremendous experience leading the explosive growth of top-tier software and technology companies," said Scott Dorsey, co-founder and chief executive officer of ExactTarget. "David’s leadership and depth of experience will be invaluable to our team as we look to broaden our product platform and expand internationally."
"ExactTarget’s experienced and talented management team have built a clear industry leader for email marketing and one-to-one marketing solutions," said Yuan. "We are excited to help ExactTarget extend its leadership and capitalize on the exciting growth opportunities in the online marketing sector."
Since its inception in 1995, TCV has guided more than 40 companies through initial public offerings and currently has more than $7.7 billion under management.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to later-stage private and public companies. With $7.7 billion in capital under management, TCV has made growth equity and recapitalization investments in over 160 companies leading to 45 initial public offerings and more than 30 strategic sales or mergers. Representative investments include Altiris, eHarmony, Expedia, Fandango, Liquidnet, Netflix, RealNetworks, Redback Networks, Solect Technology, TechTarget, Travelport, Webroot, and Zillow. TCV has 11 partners and is headquartered in Palo Alto, California. For more information about TCV, visit www.tcv.com.
ExactTarget is a leading global provider of on-demand email and one-to-one marketing solutions. The company’s software as a service technology provides organizations a single platform to connect with customers via triggered and transactional email, integrated text messaging, voice messaging, landing pages and social media. Supported by collaborative global services teams, ExactTarget’s technology integrates with more sales and marketing information systems than any other in the industry, including Salesforce.com, Microsoft Dynamics CRM, Omniture and Webtrends among many others. ExactTarget’s software powers permission-based multi-channel communications for thousands of organizations around the world including Expedia.com, Aurora Fashions, Papa John’s, CareerBuilder.com, Gannett Co., Inc., The Leukemia & Lymphoma Society, The Home Depot and Wellpoint, Inc.
About David Yuan
David joined TCV in 2005 and has been in the venture capital industry since 2000. Prior to TCV, David worked as a Senior Associate at JPMorgan Partners, a $6B private equity fund, where he focused on enterprise software and Internet investments. Before JPMP, David was one of the first employees and director of business development and ad sales at 1stUp, an Internet Service Provider which was successfully sold to CMGi. David started his career in the San Francisco office for Bain & Company where he advised technology and private equity clients. David has also performed strategy and business development work in SAP’s Office of the CEO, as an assistant to the CEO at VMware, and in the corporate development group at KongZhong.David received an A.B. in Economics from Harvard University and an M.B.A. from Stanford Graduate School of Business. David currently serves on the board of Seismic Micro-Technology.