CrownPeak has a little more money in their pocket these days. They have just secured US$ 6m in funding from a second round of venture capital financing bringing the total raised to US$ 10.25m. What are they going to do with all the cash?
The second round brought out a new firm, SunAmerica Ventures, to sit alongside their existing investors - Sigma Partners and Altos Ventures. Troy Fukumoto from SunAmerica will join the CrownPeak board which already has a member from each of the other major investment companies.
So what exactly is a web content management vendor who provides their software as a service going to do with all that money? Well, CrownPeak isn't being explicit about the details, only saying it will be used to accelerate new product development initiatives and spend more money on marketing. It's all about "customer value" they say.
In February, CrownPeak came out with their content management SaaS offering. In January they announced integrated support for Google's Open Social. So maybe we'll be seeing more of a foray into social computing capabilities in their software, especially in the SaaS version of their software.