TOA Technologies Raises $17.2 Million in Series D Funding

CLEVELAND--(BUSINESS WIRE)--TOA Technologies, the only on-demand provider of enterprise class mobile workforce management software solutions, today announced that it closed $17.2 million of funding to continue worldwide growth, with an emphasis on sales, marketing and other strategic initiatives.

“As one of the most successful and long-standing venture capital firms in Silicon Valley, Sutter Hill Ventures brings prestige, unparalleled experience and longevity to the TOA brand. We feel both privileged and excited to have them join our partnership.”

Sutter Hill Ventures led the Series D round which includes existing investors Intel Capital and Draper Triangle Ventures. Additional, new shareholders include Draper Fisher Jurvetson founder Tim Draper, Fort Washington Capital Partners Group and a number of TOA's original private investors. Andy Sheehan, Managing Director of Sutter Hill Ventures will be joining the TOA Technologies, Inc. Board of Directors.

"We are proud to join TOA's great team to help power TOA's continued growth and industry leadership," said Andy Sheehan, Managing Director of Sutter Hill Ventures. "TOA is one of the most exciting Cloud-based companies operating today. TOA's enterprise SaaS innovation leadership is evidenced in its impressive growth, with name brand customers worldwide such as Cox Communications, Virgin Media, Bright House Networks, Cablevision and Suddenlink. TOA has shown an impressive ability to marry the potential of SaaS with the essential and advanced technology tools that enterprises must have to manage their mobile employees. We see huge potential in the continuing growth of the global mobile applications market and believe that TOA Technologies has the right product and the right team to realize that opportunity."

With the world's fastest routing and scheduling optimization engine, integrated time-based capacity management and predictive customer communications as well as mobility apps to power the latest generation of iPads and tablets, TOA's Cloud-based mobile workforce management software, ETAdirect, is the only complete end-to-end web-based enterprise class solution on the market today. ETAdirect currently manages more than 50 million appointments annually for many global brands in the cable/broadband, telecom, insurance, home services, and retail industries. With ETAdirect, TOA clients can save an average of $18,000 per mobile worker annually, while also enhancing the customer experience.

"TOA has experienced dramatic growth and continues to see huge potential in providing its enterprise SaaS solution to a global market. This new financing brings us even closer to becoming the uncontested leader in mobile workforce management software solutions," said Yuval Brisker, co-founder, President & CEO of TOA Technologies. "As one of the most successful and long-standing venture capital firms in Silicon Valley, Sutter Hill Ventures brings prestige, unparalleled experience and longevity to the TOA brand. We feel both privileged and excited to have them join our partnership."

About Sutter Hill Ventures

Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley's original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Quantum, StorageTek, Data Domain, Alteon, Linear Technology, nVidia, and BroadVision. For more information about Sutter Hill Ventures, please visit www.shv.com.

About TOA Technologies

TOA Technologies is the leading provider of on-demand mobile workforce management applications for large and medium-sized enterprises. ETAdirect, TOA's patented platform, improves customer service while dramatically reducing operational costs and delivering immediate return on investment. As the industry's only complete on-demand solution using predictive, time-based analytics, ETAdirect reduces customer wait times while increasing field workforce efficiency. TOA's system deploys quickly, is highly configurable and is easily integrated with existing CRM solutions. Named Best of Breed and Visionary solution in Gartner's 2010 Magic Quadrant for Field Service Management, TOA Technologies is headquartered in the United States and has offices in Europe and Latin America. For additional information please visit toatech.com.