Omniture continues on growth trajectory

Omniture Inc continues to see strong growth in its web analytics services business. Orem, Utah-based Omniture says it is on track to double its revenue for the fifth consecutive fiscal year after reporting growth of 115% for its second quarter. The company also closed an impressive $40m of venture capital funding, bringing its total investment to $65m.

During the quarter Omniture added over 150 new customers including driven by its SiteCatalyst reporting and analysis tool as well as its newer Discover exploration engine and Data Warehouse infrastructure. Marquee accounts include Ford and Nasdaq .

A cadre of hosted Web analytics vendors continues to make headway in the market. Rivals like WebSideStory Inc, Coremetrics Inc, Nedstat BV and the newly launched WebTrends Inc have all reported strong growth.

However these vendors will come under increasing pressure from larger Internet vendors like Google Inc to lower the cost of ASP Web analytic solutions. Following its earlier acquisition of Urchin Software Corp, Google announced a new cut-price Web Analytics offering in May this year.

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