Messagepoint, a Toronto-based customer communications management company, has secured an investment from U.S. private equity firm NewSpring Capital.
No financial terms were disclosed.
Led by CEO Steve Biancaniello, who co-founded the company in 1998, Messagepoint provides software and services to help customers in financial services, insurance, healthcare and other regulated industries to strengthen their customer communications.
The investment’s proceeds will be used to expand research and development and enhance sales and marketing initiatives.
Two years ago, Messagepoint, formerly known as Prinova, raised $17 million from U.S. growth equity firm Volition Capital.
Messagepoint Receives Investment from NewSpring
Messagepoint, a Leading Customer Communications Management Company, to Expand Research and Development, Sales and Marketing Initiatives
November 06, 2018
TORONTO–(BUSINESS WIRE)–Messagepoint, a leader in developing and delivering innovative software and services within the Customer Communications Management (CCM) market, announced today that private equity group NewSpring has invested in Messagepoint. The investment will be used to expand Messagepoint’s research and development initiatives, as well as to enhance sales and marketing functions to generate outsized growth.
“Businesses are seeking innovative solutions that make content creation easy and intuitive, and that require significantly less professional IT involvement,” commented Brian Kim, NewSpring Principal. “Messagepoint offers exactly this and allows the enterprise to regain control over their customer communications and experiences. We look forward to partnering with CEO Steve Biancaniello and the entire dedicated team at Messagepoint to further grow this already successful brand.”
Messagepoint provides non-technical business users with intelligent control over complex content to create more personalized, relevant, and timely customer communications in regulated industries such as financial services, insurance, and healthcare. The Company’s hybrid-cloud platform enables businesses to produce optimized customer communications at scale across a variety of distribution channels including print, email, mobile, and web.
Additionally, Messagepoint is a differentiated leader in the CCM space as it combines a user-friendly interface with advanced content management capabilities powered by machine learning and artificial intelligence to make it easy for users to ensure the right message goes to the right customer through the right channel. The company was named one of the top CCM vendors in the 2018 Aspire Leaderboard and is a recipient of the CODiE award for “Best Multi-Channel Publishing Platform.”
“NewSpring’s track record speaks for itself,” said Biancaniello, Messagepoint co-founder and CEO. “We are thrilled to partner with them during this next phase of growth. We look forward to continuing to help our clients solve their customer communications challenges and enhance their customer experiences.”
Messagepoint is a leader within the Customer Communications Management market. The Messagepoint hybrid-cloud platform helps companies strengthen their customer communications by enabling business users to control the entire messaging lifecycle for all print or digital communications without burdening IT. For information, visit www.messagepoint.com.
Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 135 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
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