Voxeo Corporation, a Florida-based communications password technology company, has announced a $9 million minority investment by North Atlantic Capital and the Florida Growth Fund.
Voxeo Corporation, the world-wide leader in Unlocked Communications and one of Florida’s leading privately-held companies, has announced a $9 million minority investment by North Atlantic Capital and the Florida Growth Fund. Voxeo will use the funds to take advantage of rapidly growing opportunities in Unlocked Communications, including VoIP platforms, Interactive Voice Response, text and instant messaging, and unified communications, both by accelerating internal development and through corporate acquisitions. Voxeo has acquired three companies over the last 14 months.
This is the first investment made by the Florida Growth Fund, a $250 million partnership between the State Board of Administration of Florida and Hamilton Lane. Hamilton Lane is one of the leading private equity asset managers worldwide, with over $88 billion under management and supervision. The Florida Growth Fund was created in 2009 as a result of the passage of Florida State Bill 2310 with the goal of investing in technology and growth-based businesses in the State of Florida.
Over the last five years Voxeo has grown revenue 1,361% and grown to become the world-wide leader in Unlocked Communications
This investment allows us to further accelerate our growth both organically and through acquisitions of complementary and competitive companies.
Voxeo is a wonderful success story for the State of Florida, and we are pleased to have the opportunity to offer the full set of capabilities and resources of Hamilton Lane and the Florida Growth Fund to the company.
North Atlantic Capital is a venture capital firm dedicated to helping strong teams accelerate the growth of their expansion-stage, technology-based companies. North Atlantic Capital found and identified Voxeo as a high quality investment opportunity in 2007 and in addition to leading the investment, introduced Voxeo and the Florida Growth Fund. Concurrent with the investment, Mark Morrissette, Managing Director of North Atlantic Capital, has joined Voxeo’s board of directors.
“Over the last five years Voxeo has grown revenue 1,361% and grown to become the world-wide leader in Unlocked Communications,” said Jonathan Taylor, Voxeo CEO. “This investment allows us to further accelerate our growth both organically and through acquisitions of complementary and competitive companies.”
Voxeo is an employee-owned company with headquarters in Orlando, Florida and offices in Beijing, Cologne, London and Silicon Valley. In 2009, Voxeo was named one of the 100 best places to work in Florida. Voxeo’s offerings include:
* Prophecy Interactive Voice Response (IVR) and Unified Self Service platform helps enterprises and service providers automate their most common customer and employee interactions via phone, SMS, IM, Twitter, mobile web and more.
* VoiceObjects Application Server helps enterprises and service providers design, create, deploy, manage, and analyze personalized self-service applications.
* Micromethod VoIP platforms and solutions help enterprises and service providers deploy highly-scalable, customizable infrastructure for VoIP solutions.
* IMified technology delivers a web service that enables applications to interact with any text messaging network, including SMS, IM, Twitter, Facebook, and more.
All of Voxeo’s products and services are available as both an on-premise, traditional software license and as on-demand, hosted, Software as a Service (SaaS) solutions.
“We have tracked Voxeo’s progress closely for over three years, and are very pleased to now have the opportunity to partner with such a great company and management team. Our investment, together with the Florida Growth Fund and Hamilton Lane’s involvement, is a testament to the impressive performance and strong leadership at the company and to the opportunities that lie ahead in this dynamic market,” said Mark Morrissette, Managing Director at North Atlantic Capital.
Greg Baty, Vice President of Hamilton Lane added, “Voxeo is a wonderful success story for the State of Florida, and we are pleased to have the opportunity to offer the full set of capabilities and resources of Hamilton Lane and the Florida Growth Fund to the company.”
Voxeo unlocks communications. We loathe the locks that make voice, SMS, instant messaging, Twitter, web chat, and mobile web unified communication and self-service applications difficult to create, manage, analyze, optimize and afford. Every day we work to unlock the neglected value of these communications solutions with open standards, disruptive innovation and a passion for problem solving–fueled by a company-wide obsession with customer success. We do so for more than 100,000 developers, 45,000 companies and half of the Fortune 100 from our headquarters in Orlando, Beijing, Cologne and London. Visit us or join our conversations on the web at www.voxeo.com, blogs.voxeo.com, or twitter.com/voxeo.
About North Atlantic Capital
North Atlantic Capital is a Portland, Maine based structured equity venture firm and a leader in investing in late-stage Software-as-a-Service (SaaS), Managed Services and other Technology-Enabled Business Service companies based on the East Coast.
Established in 1986, the firm provides both equity and subordinated debt structured investments and is currently investing its fourth fund. Investments from the current fund include iContact, Tangoe, Synacor, Invoke, Astadia, KickApps, and Vivisimo. To learn more about North Atlantic’s investment criteria and approach to value creation, visit them online at northatlanticcapital.com.
About Hamilton Lane
Hamilton Lane is an independent financial institution that provides discretionary and non-discretionary private equity asset management services to sophisticated investors worldwide from offices in the U.S., London, Tel Aviv, Tokyo, Singapore and Hong Kong. Hamilton Lane offers a full range of investment products and services that enable clients to participate in the private equity asset class on a global and customized basis.