Despite Recession, ExactTarget Raises A Whopping $70 Million For Marketing Software

Marketing email software provider ExactTarget has secured $70 million in funding led by Battery Ventures, with Scale Venture Partners and Montagu Newhall participating. The company says it will use the money to expand its international presence. The company says that the $70 million is a similar level of funding it sought to raise in its December 2007 application for an initial public offering. ExactTarget will delay its IPO plane and has withdrawn its application with the SEC to trade on the Nasdaq under the symbol EXTG.