TargetRx announced that it raised $10 million from the sale of series C stock in its second round of venture capital funding. New investor Acacia Venture Partners led the round along with previous investors New Enterprise Associates and Domain Associates. TargetRx raised $12 million in the first round of funding June 2000.
TargetRx runs a physician-only Web site that collects information from physicians about drugs that pharmaceutical companies purchase and use to develop, promote and market their products to the medical community. The Horsham, Pa.-based company says its customer base includes the majority of the top 20 companies in the pharmaceutical industry.