19 February: Talisma -- full-service provider of powerful and easy-to-use customer relationship management (CRM) solutions - today announced completion of the first closing of Series B, private equity financing, totaling $12.3 million. Oak Investment Partners led the funding, with participation from Madrona Venture Group, SeaPoint Ventures and Cedar Grove Investments.
Talisma will use the financing to fund its product development and new product introduction efforts, and to further expand strategic partner and channel distribution. According to Pradeep Singh, Talisma founder and CEO, companies have a large unserviced need for CRM solutions that empower the traditional contact channels, such as sales organisations and call centres, with the advantages of the Internet.
"Talisma’s powerful CRM offering, rapid deployment strategy and end-user empowerment enables a quick and high ROI for our customers," said Singh. "Talisma’s accelerating momentum over the past year has proven that this value proposition resonates with enterprise level businesses such as Lowe’s, Sony, EMI, Air Products, Bowstreet and others."
About Oak Investment Partners
Oak Investment Partners was founded in 1978 and has raised nine venture capital partnerships with a total of $2.6 billion in committed capital. Oak has sponsored over 340 companies with aggregate annual revenues in excess of $100 billion. Its portfolio companies include Inktomi, InterNAP, Exodus, Pivotal, and Primus.
About Madrona Venture Group
Madrona Venture Group is an early-stage venture capital firm focused on the Internet economy in the US (Northwest). The firm targets investments in infrastructure and platform technologies, communications and networking and business and consumer software and services. Based in Seattle and Portland, Madrona has a $250 million fund that includes early-stage investments such as Amazon.com, Asta Networks, Nimble Technology, Terabeam and WildTangent.
About SeaPoint Ventures
Founded in 1997, SeaPoint Ventures started as a Pacific Northwest "point fund" associated with three pre-eminent venture capital firms: Oak Investment Partners, Sevin Rosen Funds and Venrock Associates. Since it’s founding, SeaPoint has led investments totalling over $100,000,000 in funding.
About Cedar Grove Investments
Cedar Grove Investments is a unique private venture capital firm comprised of former senior executives from leading wireless and Internet companies. Cedar Grove invests in the "arms merchants" who supply the major combatants of the new economy. More specifically, our focus is upon early stage electronic business software and services and next generation communication carriers and tools. Successful portfolio companies include Wireless Facilities, Loudeye, Metawave Communications, Tegic, Avenue A Media and 360 Networks.
About Talisma - http://www.talisma.com
Talisma Corporation is the only full-service provider of enterprise-class customer relationship management (CRM) solutions for effective and robust service, sales and marketing. Their proven experience and expertise has helped hundreds of companies create long-lasting and profitable customer relationships. Modular Talisma(tm) CRM products and services are easy to deploy, extend, integrate, and scale, to ensure superior relationship management across multiple communication channels including e-mail, phone and fax (CTI), chat, self-help, VoIP and wireless. The company also provides extensive training and integration services and outsourced staffing services.
Headquartered in Seattle, Washington, Talisma has more than 600 employees, with offices in India, Europe, Asia, Australia and 15 cities across the U.S. The company has a rapidly growing list of more than 400 customers including Real Networks (Nasdaq: RNWK), Exodus (Nasdaq:EXDS), Lowe’s Companies Inc. (NYSE: LOW), MSNBC, NetGrocer.com, EMI and BlueNile.com. Talisma is privately held with investments from Oak Investment Partners, Madrona Venture Group, The Carlyle Group, SeaPoint Ventures and Cedar Grove Investments.
For more information contact:
Talisma UK Ltd
Tel: 01494 582181
Sue Eyles or Angela Jones
BlueBird Associates Ltd
Tel: 01491 842940
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