Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

KKR makes Israel tech investment in web analytics firm ClickTale

[January 28, 2015] TEL AVIV (Reuters) - ClickTale, whose software enables website owners to see how people behave on their sites, has raised $35 million in a funding round led by KKR, marking the U.S. private equity firm's first investment in Israel's tech sector.

ClickTale will use the funding to expand globally, continue to build its North American presence and accelerate development of customer analytics, the company said on Wednesday.

KKR joins existing investors Amadeus Capital Partners, a UK venture capital firm, Goldrock Capital and Viola Credit.

ClickTale CEO Tal Schwartz expects the company to maintain an annual sales growth rate of over 50 percent in the next few years as companies seek to improve their customers' experience.

The company, whose customers include Home Depot, Adobe and Walmart, raised $17 million in 2013.

Competitors include giants such as IBM, which bought customer experience management firm Tealeaf.

In the first nine months of 2014, private equity investment in Israel amounted to $1.2 billion, with 58 percent coming from foreign investors, according to the Israel Venture Capital Research Center.

(Reporting by Tova Cohen; editing by Keith Weir)

[© 2015 Thomson Reuters. All rights reserved.]

Copyright 2015 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.