OREM — Omniture has had financing rounds before, but nothing like the one announced Wednesday.
The Orem-based provider of on-demand Internet analytics said it closed on a $40 million round of venture capital funding, led by BA Venture Partners, based in Foster City, Calif.
Bank of America is BAVP's sole limited partner. Other participants are a previous investor, Hummer Winblad Venture Partners, and Attractor Investment Management, one of the early investors of Salesforce.com.
Rory O'Driscoll, a managing director at BAVP, will join Omniture's board of directors.
Omniture has raised $65 million through its three funding rounds.
The company said it will use the funds to boost customer training initiatives, invest in technological development and increase marketing and distribution activities.
Omniture's SiteCatalyst Suite platform helps companies automate, measure, manage and optimize online marketing expenses. Its elements include the Site Catalyst real-time reporting and analysis software; Omniture Discover, an engine to help do in-depth analysis; and the Omniture Data Warehouse.
Omniture has doubled its revenue each year the past four years and expects to end 2005 with its fifth straight year of at least 100 percent revenue growth. Its customer base includes eBay, AOL, Wal-Mart, Gannett, Microsoft, Oracle, Apple, GM and Hewlett-Packard.
"BA Venture Partners has been focusing on both Internet and software-as-service applications since 1999," O'Driscoll said in a prepared statement. "We've been closely watching the growth of Web analytics in general and Omniture specifically, and we're impressed by Omniture's leadership.
"Omniture is the largest and fastest growing on-demand Web analytics provider, and they continue to demonstrate unwavering dedication to product excellence and customer success. That leadership ethic, coupled with their customer loyalty, proves them to be exactly the type of organization we believe will create sustaining value for businesses."