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Application service provider (ASP) has become a magnetic phrase. Companies use it to describe their business and venture capital firms flock to the door.
MarketTools Inc., a Sausalito, Calif.-based ASP, provided the most recent proof of that in its $30 million second round of venture financing that was scheduled to close last Friday. "We have been in the ASP space for a year-and-a-half, offering research and feedback over the Web," said Ron Mester, executive vice president of marketing and sales at MarketTools.
Dominion Ventures and Oak Hill Venture Partners co-led the financing, which included...