Calabrio Secures $8 Million in Series B Funding
MINNEAPOLIS, Minn., – Calabrio, Inc., a leading provider of workforce optimization and unified desktop software for IP-based contact centers, today announced that it has closed an $8 million Series B round of financing from BlueStream Ventures and Split Rock Partners. The financing coincides with Calabrio’s formal spin-off from Spanlink Communications on Nov. 1, 2007. The proceeds will be used for research and development, marketing, and expanding the company’s resources dedicated to supporting channel partnerships.
The Calabrio suite integrates a variety of applications that increase contact center efficiency and effectiveness in key areas, such as improving the customer experience and contributing to improved revenue and profitability goals. At the same time, Calabrio makes it easier for IP-based contact center organizations to deploy, support and use the software so that they can realize results from their investment. For example, Calabrio customers can create forecasts, generate work schedules, measure quality and efficiency, access reports and alerts, and collaborate within their teams to impact performance – all from a common desktop.
Calabrio products are distributed through an OEM relationship with Cisco and through direct relationships with certified partners globally. Calabrio’s products have been installed on more than 500,000 desktops worldwide for customers including Getronics, Allianz Life Insurance, and Jostens.
“Our goal is to provide IP-based contact centers with software that helps them support the goals of the business, such as revenue growth and customer satisfaction, while setting new standards in terms of integrated functions and ease of use,” said Paul Lidsky, president and CEO of Calabrio, Inc. “The financial support from BlueStream Ventures and Split Rock Partners validates the strength of our software and our team. With these funds, we will be able to further bolster and expand our leading suite of integrated contact center applications.”
Travis Winkey, co-founder of BlueStream Ventures, and Michael Gorman, co-founder and managing director of Split Rock Partners, will serve on Calabrio’s board of directors.
“Calabrio software has delivered bottom-line results for both mid-sized and Fortune 500 companies,” said Gorman. “The company’s software is well positioned to respond to the global need for next-generation contact center solutions because it is built from the ground up to leverage the benefits of VoIP. Calabrio also has made great progress in developing new relationships with channel partners who are committed to delivering proven solutions to their clients in the contact center market.”
Winkey noted that this financing positions the business for future success. “Operating as a separate company heightens Calabrio’s visibility and its ability to attract and train more partners,” said Winkey. “Our financial support reflects our confidence in the company’s strategy and the size of the market opportunity. We are looking forward to working with Paul and his team as they form new partnerships to increase market share for their products.”
About Calabrio, Inc.
Calabrio, Inc. develops and markets a comprehensive suite of customer interaction and workforce optimization software that’s easy to implement, use and maintain in new IP-based customer interaction networks. By integrating workforce optimization within the agent and supervisor workflow, Calabrio helps customers align their contact center business processes and performance with their business objectives. Calabrio distributes their software through OEM and channel partnerships, and has installed software on more than 500,000 desktops. Find news and information at www.calabrio.com.
About Blue Stream Ventures
BlueStream Ventures, with offices in Minneapolis and Sunnyvale, Calif., invests in growth stage technology companies operating within the communications, enterprise and infrastructure software, storage and wireless sectors. BlueStream Ventures brings more than 60 years of collective venture investing, research, investment banking, operations, mergers and acquisitions and advisory experience to our portfolio companies. For more information, visit www.bluestreamventures.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, Calif., invests in emerging Internet services, software, and healthcare companies primarily in the Upper Midwest and on the West Coast. Split Rock Partners was formed in June 2004 by the Internet, software, and healthcare investment teams of St. Paul Venture Capital (SPVC), and continues to manage SPVC’s existing portfolio in these areas. Representative companies in the Split Rock Partners portfolio include Compete, Internet Broadcasting, LowerMyBills (sold to Experian in 2005), MyNewPlace, QuinStreet, and SPS Commerce. For more information, please visit http://www.splitrock.com.
For Immediate Release
Dave Boxum, Weber Shandwick