DURHAM, NC – Broadwick Corp., a provider of web-based emarketing communications software, announced that it has secured initial investment funding of $500,000 from NC IDEA. The funding is intended as a bridge to an upcoming Series A financing. The company will use the proceeds for marketing and product development.

The 25 employee company is profitable and has grown organically since its inception in mid-2003.

“NC IDEA is very excited by the potential of Broadwick to re-define the one-to-many emarketing communications industry,” said W. Merrette Moore, Vice President of NC IDEA, who is joining Broadwick’s Board of Directors, “We’re glad to add Broadwick to our list of portfolio companies and look forward to helping Broadwick expand into the next IT success story in the Triangle in the coming years.”

Ryan Allis, co-founder and Chief Executive Officer of Broadwick commented, “We’re glad to be working with a partner like NC IDEA. After six months of exploring different options for growth capital, our management team felt like NC IDEA provided the best overall deal. With the financing and upcoming 4.0 launch of IntelliContact we’re very bullish on our current prospects.”

The company claims it currently has over 4,700 customers.

The company says it will hire 4-5 additional employees in the next three months, focusing on Web Application Developers.

Broadwick recently hired CFO Tim Oakley, who was CFO at OpenSite from 1998 to 2000. OpenSite, a developer of online auction software, was purchased by Siebel for close to $450 million in 2000.

www.broadwick.com

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