Software developer TraceWorks raises fresh cash  

Copenhagen-based TraceWorks has raised a DKK 17m investment from Nordic Venture Partners
Copenhagen-based TraceWorks, which develops software for online marketing campaigns, has raised a DKK 17m (USD 3m) investment from Nordic Venture Partners, which also invested in the Danish company in 2007. The money will be used to accelerate the development of new functionalities in its online marketing product and to hire more developers in India, reports Erhvervsbladet (The Business Paper).
TraceWorks also plans to intensify sales outside Denmark by expanding its partner channels in both the UK and Germany.
Henrik Albertsen of Nordic Venture Partners says in a press release: "In times like these, there is increasing focus on efficiency improvement and optimal exploitation of existing resources. So TraceWorks' solution is steadily becoming a more attractive tool for many companies to optimise their marketing activities."
TraceWorks has expanded its staff with local sales representatives in both Sweden and Norway, and has established its first development team in India to supplement the Danish development department.
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