Spanlink Secures $12 Million in Series A Funding
Spanlink Secures $12 Million in Series A Funding
Jul 11, 2005 – Minneapolis, MN – Spanlink Communications, a leader in customer interaction solutions that leverage VoIP technology, today announced that it has completed a $12 million round of Series A financing from BlueStream Ventures and Split Rock Partners. Travis Winkey, co-founder of BlueStream Ventures, and Michael Gorman, co-founder and managing director of Split Rock Partners, have joined the Spanlink board of directors.
“This financing will give us the ability to introduce new products and services to help our customers realize more potential from their VoIP-based customer interaction systems,” said Brett Shockley, president and CEO of Spanlink. “In addition to the investment capital, BlueStream Ventures and Split Rock Partners also bring us industry relationships, counsel, and financial expertise that will help us achieve our business goals.”
This capital will be used to further accelerate Spanlink’s growth by hiring additional sales and support personnel, investing in R&D for software products, and increasing market awareness for the company’s products and services.
Spanlink delivers customer interaction solutions that transform the way companies do business. Spanlink software products enhance VoIP networks to make customer interactions more strategic and system management more efficient. In addition, Spanlink brings expertise in designing and deploying sophisticated VoIP networks, helping customers realize the full potential of VoIP technology. Spanlink solutions are deployed at leading customers, such as W.W. Grainger, the State of Minnesota, Humana Military Healthcare Services, the gem (Northern Ireland) and TCF Bank.
“Brett Shockley and his leadership team have built a solid foundation at Spanlink and have the company well positioned to benefit from rapid growth in the application of VoIP technology for customer interactions,” said Michael Gorman, managing director of Split Rock Partners. “Businesses seeking to take advantage of VoIP technology to deliver superior customer service are taking note of Spanlink’s success in delivering real customer interaction solutions that drive bottom line results.”
“Spanlink has a compelling value proposition for customers, proven software technology, and an enormous opportunity to grow in the VoIP market,” said Travis Winkey, co-founder of BlueStream Ventures. We look forward to working with Brett and his team as they take Spanlink to the next stage in its development as a category leader.”
About Spanlink Communications, Inc.
Spanlink Communications is a leading provider of customer interaction solutions that leverage VoIP technology. Spanlink has nearly 20 years of customer interaction solution experience and a history of delivering results from leading-edge technology. Spanlink leverages that expertise to help businesses answer tough communications questions and establish a cohesive customer interaction strategy. Spanlink develops and markets collaborative customer interaction products, intelligent self-service products and CentralControl system management products, all of which exploit the benefits of VoIP network infrastructures. Spanlink applies expert planning, migration and support services, to tailor each customer’s solution and support plan to their business needs. The benefit is more than incremental improvements in isolated areas of the business, but real, transformational business improvements in productivity, efficiency and customer satisfaction. Find news and information at www.spanlink.com.
About Blue Stream Ventures
BlueStream Ventures, with offices in Minneapolis and Redwood City, is a venture capital partnership focused on technology companies in communications, enterprise and infrastructure software, storage and wireless markets. BlueStream Ventures brings more than 60 years of collective venture investing, research, banking, operations, mergers and acquisitions and advisory experience to our portfolio companies. BlueSteam recognizes the value created when management and investors work together as a single, strong team and understands the industries in which they invest and provide strategic insight based on personal experience. For more information visit www.bluestreamventures.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, seeks emerging opportunities in healthcare, software, and Internet services primarily in the Upper Midwest and West Coast. Split Rock Partners was formed in June 2004 by the healthcare and software investment teams of St. Paul Venture Capital and continues to manage St. Paul Venture Capital’s existing healthcare and software portfolio. In May of 2005, the firm announced the closing of Split Rock Partners L.P, a $275 million venture fund. Additional information about Split Rock Partners can be found at www.splitrock.com.
Trademark reference: Spanlink, Spanlink Communications, CentralControl and the Spanlink Communications logo are registered trademarks of Spanlink Communications. All other company or product names mentioned may be the trademarks of their respective owners.
For Immediate Release:
Niki Larsen, Weber Shandwick