Monday, February 23, 2009

ON24: "Best Year Ever"

San Francisco-based ON24, a provider of webcasting and virtual event services, is claiming this morning that it had its "best year ever" in 2008. The firm, which is backed by Gold Hill Capital, U.S. Venture Partners, Canaan Partners, and Rho Ventures, said that it grew by 40 percent last year, and now has more than 700 customers. ON24 provides services that allow its customers to conduct online webcasts and virtual events. ON24 said that among the factors fueling the company's growth is a desire by companies to reduce travel and costs. ON24 raised $8M in combination of equity and expansion capital in July of 2008.