JMI Equity Posts

AtTask receives $38 million in funding

AtTask Logo

AtTask is a startup that offers collaboration and workflow services for enterprises. AtTask has raised $38 million in funding led by JMI Equity. AtTask is growing at a rapid pace as their subscription base increased 50% in the fiscal 2013 year. AtTask plans to use the funding to expand their sales and technical staff.

 

Internet Security Company WhiteHat Raises $31 Million

WhiteHat Security is a U.S. based security company that has raised $31 million in funding.  The company has hit around $50 million in funding total.  The company plans to use the funding to expand overseas and increase their focus on SMBs.  JMI Equity led this round of funding and existing investor Investor Growth Capital also participated.

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CouponCabin.com Raises $54 Million In First Round Of Funding


Whiting, Indiana based coupon website company CouponCabin.com has raised $54 million in their first round of funding. This round of funding was led by JMI Equity. CouponCabin revealed that the funding will go towards growing their consumer audience and enhance their relationships with merchants. Some of the coupons that they have on their website today includes Dell, Target.com, Best Buy, and RadioShack. The website has exclusive deals with Just My Size, BuyCostumes, and Think Geek. CouponCabin.com works with 3,500 stores across the nation and has generated $500 million in online retail sales for their merchants since 2003. They have saved consumers over $300 million since 2003.

Adknowledge Raises $200 Million In Debt and Equity Financing


Adknowledge is an advertising network that has raised $200 million in debt and equity financing. Adknowledge is planning to acquire other ad companies with the additional cash. Adknowledge acquired eight companies so far in the last 3 years. JMI Equity led the equity investment and Bank of America handled the debt financing. Adknowledge made $300 million in revenues in 2010. The company is now focusing on placing ads in social networks, casual gaming, e-mail, mobile devices, and on “domain inventory.”

DriveCam Raises $19 Million Series D

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DriveCam is a company that improves risky drivers by setting up video event recorders on the windshield behind the rear-view mirror.  DriveCam reduces claims costs and improves the way people drive.

DriveCam offers driver coaching and expert analysis.  The company has announced that they have raised $19 million Series D.

The $19 million Series D round of investment was led by Triangle Peak Partners.  Other investors include Menlo Ventures, Insight Venture Partners, JMI Equity, and Integral Capital Partners.

DriveCam had year-over-year revenue growth and an 85% growth in their client base.  The company also had a positive cash flow for the first time in history.

[via NYT]

DoubleClick Acquisition Finalizes After EU Approval; Potential Layoffs On The Way

Google and DoubleClick Logos
“As with most mergers, there may be reductions in headcount. We expect these to take place in the U.S. and possibly in other regions as well,” wrote CEO of Google Eric Schmidt on the Official Google Blog. “We know that DoubleClick is built on the strength of its people. For this reason we’ll strive to minimize the impact of this process on all of our clients and employees.”

The European Union regulators have given Google the thumbs up.  Google can finalize their acquisition of DoubleClick Inc.  The Mountain View, Calif.-based search engine company acquired Double close to a year ago for $3.1 billion.  Through this acquisition, Google will once again put Yahoo! and Microsoft in their sights.  Over the past year, Yahoo! and Microsoft have picked several digital advertising companies of their own.

According to analysts at J.P. Morgan, search advertising will be valued at $28.6 billion by 2010.

While regulators were waiting to approve the acquisition, Google did not have the opportunity to create a plan on integrating DoubleClick with the search engine.  Over the next few weeks, Google will be taking DoubleClick employees and aligning them within various Google divisions.

Hellman & Friedman along with JMI Equity previously invested $300 million for stake in DoubleClick.  After the acquisition, Hellman & Friedman collected $2.5 billion.

[Information Source: WSJ]