EnvoyWorldWide Inc., the leading provider of enterprise application messaging solutions, has secured eight million dollars in second round venture funding, which fully funds the company's operations. Leading this round of financing is Longworth Venture Partners. Also contributing are previous investors Battery Ventures and Sofinnova Partners. Building on its strong momentum of the past year, EnvoyWorldWide will use the new funds to develop and expand operations, enabling them to provide services that meet the business-critical notification needs of their growing customer base. Jim Savage, partner of Longworth Venture Partners will join the company's Board of Directors.
"Battery Ventures has built its business by partnering with leaders and our continued investment in EnvoyWorldWide signifies our recognition and support of their dominance in the enterprise application messaging space." Todd A. Dagres, general partner at Battery Ventures. "Their services represent the next wave of significant business communications technologies, as is evidenced by the caliber of EnvoyWorldWide's rapidly growing customer base of over 50 corporate customers, including such innovation-driven companies as OAG Worldwide [a member of the Reed Elsevier group], CCBN, FT Interactive Data, Singapore Telecom, TSI Telecommunications [a subsidiary of Verizon], and Electric Insurance Company." Designed to solve the challenge of reaching professionals in today's mobile business environment, EnvoyWorldWide's communications platform provides companies with outbound, one-to-many, actionable communications that enable the worldwide delivery of business-critical messaging, instantly and simultaneously. Messages are delivered via the wired or wireless communications method each recipient prefers -- phone, fax, email, pager, SMS, WAP, or other wireless device. EnvoyWorldWide's messaging solutions are an integral part of helping companies maximize investment in enterprise applications by linking workflow with communications infrastructure.
"The commitment and confidence shown in our technology, people and opportunity by our investors differentiates EnvoyWorldWide within our market and strengthens our leadership position," Alain Dasté, co-founder and CEO of EnvoyWorldWide. "This investment, made during this challenging funding period, will enable us to exploit a large and growing market opportunity as major corporations recognize the necessity and business value of automated outbound communications solutions."
"Sofinnova has long recognized EnvoyWorldWide's vision, strategy and commitment to creating innovative communications solutions serving the world's wired and wireless professionals," Olivier Protard, partner, Sofinnova Partners. "We look forward to integrating EnvoyWorldWide into the European business community and leveraging our contacts to help them grow even faster."
About Battery Ventures: Battery Ventures (www.battery.com) is one of the world's largest venture capital firms specializing in early stage technology investments. With a team of over 50 experienced professionals, Battery leverages its bandwidth, industry expertise, and capital to actively guide emerging technology companies to category dominance. Since 1983, the firm has invested worldwide in over 130 companies across the communications, software and Internet/e-Business industries. From its offices in Wellesley, MA and San Mateo, CA, the partnership manages over $1.8 billion in committed capital.
About Longworth Venture Partners: Longworth Venture Partners (www.longworth.com) is an active, early-stage technology venture firm that focuses on investments in four sectors--Internet Media, e-Commerce, Enterprise Software and IT Services. Based in the Boston area, Longworth Venture Partners is unique because of the depth of successful operating experience among its investment professionals. Longworth works closely with entrepreneurs to leverage that operating experience and to help guide and accelerate the growth of successful companies. Recent investments include Softricity, Inc., eMaven, Inc., Digital Paper Corporation, Dirig Software, Inc., Canopy International and Roving Software.
About Sofinnova Partners: Based in Paris, the Sofinnova Partners (sofinnova.social-unit.fr) team consists of 7 partners, managing close to 500 million Euros. Sofinnova Partners invests in start-up and early stage companies, both in Information Technologies and Life Sciences. In Information Technologies, Sofinnova Partners was a founding investor in companies such as BVRP, Egide, Multimania, Maximiles and Atomz. Since 1996, Sofinnova Partners has made 50 investments, including 31 as lead investor.
About EnvoyWorldWide: Headquartered in Billerica, Massachusetts, EnvoyWorldWide is the industry leader in solving the challenge of reaching professionals in today's mobile business environment. Leading companies worldwide are using EnvoyWorldWide's enterprise application messaging platform to distribute business-critical information to customers, employees, partners and suppliers via each recipient's preferred method of communication. Organizations use EnvoyXpress, EnvoyWorldWide's core service, for applications ranging from improved resource scheduling and proactive customer notification to product delivery and logistical support. EnvoyWorldWide's services help companies slash operating costs, boost productivity, improve competitive advantage, and cultivate customer loyalty.
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