Munich-based venture capital company Knorr Capital Partner AG has acquired a 7.93 per cent stake in Metamail Inc., a US-based e-mail publishing software company.
Metamail photo-realistic email messaging technology delivers e-marketing campaigns, enhances auto-response and order confirmation systems, secures electronic bill presentment and publishes newsletters. It enables e-marketers and customer relationship management solution providers to deliver printable e-mail documents complete with graphics, logos, signatures, photos, video and file attachments. The tools can also be used to create virtually any type of branded corporate or personal communication document.
Thomas H. Knorr, chief executive and founder of Knorr Capital Partner believes that the company will alter the scope and use of e-mail worldwide and offers a tremendous opportunity for rapid revenue growth. “Metamail is a natural complement to Knorr's portfolio of fast growing companies and this investment is in line with its mission to focus on high technology companies that demonstrate strong competitive edge, a solid entrepreneurial management team and the capability of addressing world wide markets.”
Scott Rankine, co-founder and chief executive of Metamail referred to a report by Forester Research which estimates that marketers will be sending in excess of 200 billion e-mails annually in the US by 2004, creating a $4.8bn opportunity for e-mail marketing service providers-one of Metamail's key target markets. “With its worldwide presence, this financing from Knorr will allow Metamail to strengthen its overall operations and accelerate its global positioning”, he said.