The Menlo Park, California-based company, now quoted on the over-the-counter market, has been recovering this year and the consensus of analysts’ estimates is that it will increase sales by 15.6% to $62.37m, though they don’t believe the company will become profitable until 2008.
Kana raises $9.8m from share sale
CRM vendor Kana Software has raised $9.8m though the sale of 4 million shares to institutional investors and will use the money to pay back a bank loan and strengthen its balance sheet. Cash reserves were down to $1.4m at the end of September.