Knowlagent Secures $11 Million Series B Round
ATLANTA – Knowlagent™ — the software company that improves customer contact center performance through its integrated e-Learning platform, announced today that it has closed a $11 million round of financing led by Blue Chip Venture Company in Cincinnati.
Other investors in the round included Imlay Investments, First Analysis Venture Capital, Arbor Partners and River Cities Capital Funds. The company will use the $11 million to support the continued development of new and next-generation products, expand its international sales efforts and more efficiently service its customer base.
Both Imlay Investments and First Analysis are second-time investors in the company, demonstrating their faith in Knowlagents potential and scalability as a business. Both firms continued financial support – as well as that of its new investors – illustrates Knowlagents staying power and viable growth opportunities in the marketplace.
There’s no trick to answering a customer service call. Knowledge and skill come into play when a company needs to turn that service call into an experience that builds brand loyalty and customer satisfaction. These are mission critical elements to any business’ success,” said Todd Gardner, director of Blue Chip Venture Company. “Knowlagent’s e-Learning technology makes it easy for contact centers to train their agents to intelligently respond to customer questions and anticipate their needs. Current Knowlagent customers are ecstatic about the product and its benefits. That is the kind of company we will invest in regardless of the capital markets.”
Knowlagents success in raising a large round in a difficult technology financing environment is a direct result of the strong success that its customers have experienced from the implementation of its e-Learning platform, said Mark Koulogeorge, managing director of First Analysis Venture Capital and member of Knowlagents board of directors. Customers are reporting improvements in customer satisfaction and contact center operational metrics, which delivers a compelling return on investment.
The company has also released an expanded version of its flagship product, KnowDev. Recently, Knowlagent has expanded its sales force internationally and has announced improved Web site services and implementation of global Fortune 1000 customers such as Sprint, Total Solutions and Kaiser Permanente. The company offers a unique, online tool that enables companies to build and deliver updated, customized training to their contact center agents. Training is delivered directly to the agents desktop and can be customized with text, graphics, video and audio content.
The financing were receiving allows us to continue to grow and innovate, providing the best service to our clients while enabling them to better serve their customers, said Matt McConnell, Knowlagent co-founder and co-chairman.
About Blue Chip Venture Company
Blue Chip Venture Company is a Cincinnati-based venture capital firm that provides capital to entrepreneurs seeking to build growth companies. Blue Chip manages four venture funds totaling $600 million and has invested in 85 partner companies located throughout the United States and Canada. While Blue Chip invests across a wide range of industries, it primarily focuses on companies in the Internet infrastructure, enterprise software, telecommunications and healthcare sectors. Other Blue Chip investments include USInternetworking (Nasdaq: USIX), Blue Gill Technologies (Nasdaq: CKFR), and Regent Communications (Nasdaq: RGCI). Blue Chip will gain a seat on Knowlagents board of directors as a result of the deal.
About First Analysis Venture Capital
First Analysis Venture Capital (www.firstanalysisvc.com ) is a leading early-stage venture firm with more than $600 million in capital under management. FAVC has funded over 150 successful companies in the information technology, environmental and infrastructure, and outsourced services industries. The firm plays an active role in developing and scaling early-stage companies by providing entrepreneurs with assistance in strategy, corporate development, business development, alliances, and financing events. FAVC’s investment professionals are located in Chicago and Silicon Valley. Other FAVC investments include: Exodus Communications Inc. (Nasdaq: EXDS), Ariba Inc. (Tradex Technologies; Nasdaq: ARBA), and RSA Security Inc. (Nasdaq: RSAS).
River Cities Capital Funds
Cincinnati-based River Cities Capital Funds is a $140 million family of venture capital funds that focuses on early to middle stage businesses in the Midwest and Southeast in the information technology, healthcare, telecom and manufacturing sectors. Investments include Atomic Dog Publishing, Micronics, Inc., Darwin Networks, and MindLeaders.com. The firm will gain a seat on Knowlagents board of directors as a result of the deal.
Arbor Partners
Arbor Partners is an Ann Arbor, MI-based venture capital firm committed to helping entrepreneurs build lasting growth companies. The firm invests exclusively in companies focused on the creation of next-generation Internet enabling technologies, communications and enterprise software. Investments include CMS Technologies, Interlink Networks, www.knowlagent.com.
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