iSeg raises $7m second round

With additional backing from Softbank Europe Ventures and STI Ventures, the software company will launch its product across Europe and the US.

iSeg Technologies, an Israeli software company, has secured a $7m second round of financing from Softbank Europe Ventures and STI Ventures.

The cash will be used to fund the commercial launch of the company's strategic customer insight management software across Europe and North America.

iSeg describes its software as enabling marketing, sales and product development teams to identify the best customer segments, to understand their wants and needs, and to tailor products and services to those specific segments. “This insight helps iSeg's clients increase revenue, retain the right customers, and sell them the right products at the right time and price,” the company says.

The company secured its first round of investment from STI Ventures in early 2000 and has since opened offices in Germany, the United Kingdom and the United States, while building out the development team in Israel.