Private equity firm Rezon8 has acquired a “sizeable” equity stake in PeriscopeIQ. No financial terms were disclosed. According to PIQ, the capital will be used for sales expansion efforts and strategic acquisitions. Headquartered in Coopersburg, Penn., PIQ is a provider of customer and employee engagement solutions.
PHILADELPHIA, PA–(Marketwired – Jan 15, 2014) – PeriscopeIQ (PIQ), an industry leader in Customer and Employee Engagement Solutions (CEES), is pleased to announce that Rezon8 Capital & Advisory Group has taken a sizeable equity position in the company. Rezon8 is a private equity firm that provides growth capital to accelerate the business expansion of its portfolio companies. With the new capital backing from Rezon8, PIQ plans to expand its sales activities in the US and abroad and make strategic acquisitions that will further cement the company’s market leading position.
“Rezon8 is very excited to partner with PeriscopeIQ, a company that delivers superior business outcomes for their impressive base of national and global enterprise customers using their fully-automated, leading-edge CEES platform,” said K. Paul Singh, Founder and CEO of Rezon8.
“Having Rezon8 as a business partner is an important milestone in PIQ’s history. While we have received interest from venture and private equity funds to invest in PIQ in the past, we ultimately chose to go with Rezon8 because of the added value of large company CEO and CXO perspectives brought by Rezon8 executives and the synergies with Rezon8′s portfolio companies. We believe this strategic and operational expertise, combined with the financial resources of Rezon8, will not only accelerate PIQ’s growth trajectory but will bring new dimensions of value to our customers,” said Dr. Pawan Singh, Co-Founder and CEO of PIQ.
PeriscopeIQ, Inc. (PIQ) is an industry leading Customer and Employee Engagement Solutions (CEES) company serving enterprise customers with national and global brands. The company provides fully-managed turnkey solutions that deliver significantly improved business outcomes and trusted insights. PIQ serves an impressive list of customers, including Kohl’s, Fossil, Halliburton, Boston Scientific, Seagate Technology, Unilever, and The World Bank, among others. Founded in 1999, PeriscopeIQ is a rapidly growing privately-held company with a strong balance sheet and a consistent record of growth and profitability. For more information, visit www.PeriscopeIQ.com.
About Rezon8 Capital & Advisory Group
Rezon8 Capital & Advisory Group is a Reston, Virginia-based private equity firm founded and led by K. Paul Singh, a highly successful entrepreneur and CEO of leading global telecom service companies. In 2010, Mr. Singh was named the best performing CEO of public companies with up to $1B in annual revenues in the Washington, DC, area by the Washington Business Journal (October 2010). Mr. Singh is an MBA graduate of Harvard Business School and has won numerous awards, including the Ernst & Young Entrepreneur of the Year Award and a Stevie Award for Leading the “Best Business Turnaround.” He also serves on numerous boards, including the Harvard Business School Alumni Association of DC and is the president of TiE DC.