RESTON, Va.--(BUSINESS WIRE)--Contact Solutions, Inc., a leading provider of on-demand contact automation solutions including IVR, email/text messaging and web transactions for business and government, today announced that North Bridge Growth Equity (NBGE), a leading growth equity firm that invests in technology and technology-enabled companies, has invested in the company. NBGE will now hold a minority stake in the company and have representation on the Contact Solutions board. Contact Solutions will maximize the investment to drive growth, including targeted strategic acquisitions, accelerate innovation and expand on a number of initiatives.
“We are pleased to have backing from North Bridge because they have the same focus on innovation and growth that has been the underpinning of our success at Contact Solutions,” said Paul Logan, CEO. “Since 2002, we have kept our focus on a different type of IVR solution – one that centers on continuously monitoring and improving systems to ensure high performance and customer satisfaction – for our customers. We have realized extraordinary success with that model, and we believe that this investment validates our methodology and gives us the opportunity to explore growth opportunities to further that success.”
According to NBGE Managing General Partner Doug Kingsley, Contact Solutions was an attractive investment opportunity because of its different approach to the IVR market. “Contact Solutions is a real competitor in a growing industry, and we realized that their success is rooted in their focus on doing things very differently than their competitors,” Kingsley said. “Their model of creating solutions and sticking with their customers to monitor, analyze and improve is one of a kind in the contact automation solutions industry, and we invested in the company because we believe that Contact Solutions has even greater growth potential in the years ahead.”
“The North Bridge investment in Contact Solutions represents one of this year’s most significant growth capital investments in the United States,” said Mike Lincoln, counsel to Contact Solutions and head of the East coast business group at Cooley LLP, a leading law firm in the technology industry. “The partnership with North Bridge will allow Contact Solutions to further advance its position as a leader in the automated contact solutions market.”
About North Bridge Growth Equity
North Bridge Growth Equity (NBGE) is a leading growth equity firm that invests in technology and technology-enabled companies with strong revenue and profitability momentum, large and dynamic addressable markets, and proven management teams. NBGE targets investments in companies with $20 million to $200 million of revenue, and is currently investing from the $545 million North Bridge Growth Equity Fund I. NBGE is co-located and affiliated with North Bridge Venture Partners (NBVP), a bi-costal leader in early stage venture capital investing. Together, NBGE and NBVP have $3.2 billion of committed capital under management. For more information, visit: www.northbridge.com.
About Contact Solutions
Contact Solutions, Inc., is headquartered in Reston, Va., and delivers on-demand contact automation solutions including IVR, email/text messaging and web transactions, and call center analytics. Founded in 2002, Contact Solutions’ core business is to ensure its clients’ self-service automation rates continue to increase well after the initial deployment. With its game-changing Continuous Improvement Practice and world-class IVR hosting facilities, Contact Solutions is incentivized to continually find new contact center savings for clients. By continuously identifying, implementing, and monitoring inbound/outbound notification solutions, Contact Solutions consistently raises the bar on customer savings by reducing live-agent costs and stepping up the end-user experience.