Investors Find Value in SageMetrics Corp. Performance

North Hoolywood-based SageMetrics Corp. has received $6 million in its second round of venture capital funding. The company, which makes business software and analyzes online and off-line consumer data, completed its latest round of financing earlier this month, with Ascend Venture Group leading the round with $3 million in capital.

Darryl Wash, managing partner for Ascend, said the company was attractive because it has been breaking even in a difficult economy and is poised to return to profitability within a year.

Other backers include Bay Star Capital, Innisbrook Partners and GCWF Investment Partners.

SageMetrics CEP E. Kenneth Nwabueze said the new funding will go toward marketing efforts and improving sales.

Already, SageMetrics has begun a number of new initiatives, including a strategic partnership in February with software maker RedSheriff Inc., based in New York. The agreement allows the firms to offer a combined data analysis platform to serve their combined customers.

Wash said SageMetrics’ biggest competition comes from DigiMine Inc., based in Bellevue Wash. That firm recently announced $20.3 million in venture financing.

Source: San Fernando Valley Business Journal / PDF

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