ATLANTA WebTone Technologies Inc., a provider of customer service software, has secured $26 million in a second round of funding. The three-year-old company said it plans to use the money for product development and marketing, including a branding campaign.
It did not name the three investors, saying only that two are leading global technology providers and that the third is one of the worlds largest financial services companies.
In this highly competitive environment for raising capital, this announcement is a solid endorsement for WebTones vision and current market momentum, said Bill Chappell, senior equity analyst for Robinson-Humphrey, a research and investment banking firm in Atlanta.
In its first round of funding, which closed in May, WebTone got $7 million. The investors included Five Paces Ventures, Complete Business Solutions Inc., and S1 Corp.