• by David Goetzl  @dgoetzl, April 26, 2012

Allen Nance, the president of email service provider WhatCounts, says investors are still bullish on the email marketing space. Private equity investors such as the well-known Kleiner Perkins may not be as interested as they once were since they like to get in on the ground floor, but Nance rarely hears anything but interest because the business still has ample growth.

“We are in that early majority," he said. "It is going to be a very profitable business, not just for the marketers, but for the investors.”

He added "it's a great area to invest in because the returns are so high," not just for investors but the users -- which is the combination an investor seeks.

Privately held Atlanta-based WhatCounts is backed by private equity firm the Riverside Group.

ExactTarget went public in March. Its share price closed its first say trading at about $25 a share. On Thursday, it was trading in the same range.