Istanbul-based SaaS startup Octeth, the creator of email marketing and automation service sendloop, announced today that it has sold 40% of the stakes in the company to a group of investors that include Webrazzi founder Arda Kutsal. Financial details of the deal have not been disclosed.
Other participants of the round are Selçuk Saraç who is the founder of SadeceHosting which was then acquired by British TelecityGroup earlier last year, and Projectz who is the investor of well-known Turkish startups ideasoft, Mekanist, oto.net, blesh etc..
Octeth was founded in 1999 by Cem Hürtürk ve Mert Hürtürk, and claims almost 20K registered user across 100 countries. Other software services developed by Octet include Oempro, SenderSuite and DeliveryIPMonitor.