Point B said Monday that it has sold its stake in Loft9. No financial terms were disclosed. Based in Bellevue, Washington, Loft9 is a consulting firm.
SEATTLE–(BUSINESS WIRE)–Point B, a management consulting and venture investment firm, announced it has sold its stake in professional services firm Loft9.
Founded by two Point B consulting veterans, Mark Birzell and Edward Beals, Loft9 was just named one of the Eastside’s “Fastest Growing Private Companies” by the Puget Sound Business Journal. Point B provided initial start-up funding for the firm and helped Loft9’s growth by extending their network of Puget Sound clients and prospective employees.
“Point B’s strategic investment in Loft9 was innovative in that it included more than just the capital to get the doors open,” said Point B Chief Executive Officer Mike Pongon. “We leveraged our consulting expertise, track record of success and network of relationships to provide significant value for the team at Loft9 from their start-up stage and beyond.
“We’re pleased that Loft9 is now positioned to build upon their strategic vision,” continued Pongon. “We wish the Loft9 team the very best as they continue to grow.”
About Point B
Point B, Inc. helps organizations form, execute and thrive. With capabilities including Management Consulting and Venture Investment and Advisory, our integrated businesses provide value to the organizations and communities we serve. Our consulting group helps clients develop strategic insights and translate them into impact. Our clients look to us for industry and functional expertise combined with our ability to execute. Our capital group provides deep venture advisory expertise, leveraging Point B’s broad network and the horsepower to drive portfolio companies’ growth and success.