|[January 14, 2013]
Frontier Capital Completes Growth Investment in ConnectSolutions, Inc.
CHARLOTTE, N.C. --(Business Wire)--
Capital is pleased to announce its investment in ConnectSolutions,
Inc., a leading private-cloud service provider of
Unified-Communications-as-a-Service (UCaaS) solutions for large
enterprise and government organizations.
Based in San Francisco, California and Columbus, Ohio, ConnectSolutions
deploys best-of-breed communication, conferencing, and collaboration
applications on a secure, reliable, and scalable platform. By partnering
with leading technology providers including Adobe, Microsoft (News - Alert), and Cisco,
the company works with its clients to architect a comprehensive UC
solution that is specifically tailored to an organization's needs.
ConnectSolutions' UC3 Platform™ eliminates the complexity and risk of
building and managing a UC stack internally while achieving rapid
deployment, lowering overall costs, and improving quality of service.
The company will continue to be led by co-founders Michael Fitzpatrick,
Chief Executive Officer, and Chris Tennant, Chief Technology Officer. Frontier's
$10 million minority equity investment provided growth capital to
support the company's continued expansion and liquidity for shareholders.
"Frontier is excited to partner with a team with such deep domain
expertise," said Joel Lanik, Partner of Frontier Capital.
"ConnectSolutions is well-positioned to become a leading managed
services provider for many of the top products in the UCaaS and web
"Over the past several years, we have significantly grown revenues and
increased market share through meaningful relationships with technology
and channel partners," said Michael Fitzpatrick. "With Frontier's
support and strategic guidance we will accelerate that growth."
The ConnectSolutions investment builds on Frontier's long-standing
expertise in technology enabled business services. The transaction
closed on December 27, 2012.
Frontier Capital is a Charlotte-based growth equity firm focused
exclusively on technology enabled business services. Founded in 1999,
with management teams that can benefit from capital to accelerate
growth, fund acquisitions or generate shareholder liquidity. We make
minority and majority equity investments in high growth companies and
have built an excellent track record of delivering returns to both our
investors and management partners. For more information, please visit www.frontiercapital.com.
ConnectSolutions provides managed private cloud deployments for unified
communication for enterprise and government organizations. Solutions
combine proven scale and reliability with expertise in enterprise-class
integration and adoption programs. The company's global UC3 platform has
delivered over 3 billion minutes of web conferencing and collaboration.
With a focus on enterprise and government customers, solutions have been
used to facilitate one-on-one virtual collaboration and addresses by the
President of the United States to global audiences. Users of
ConnectSolutions products have participated from over 170 countries on
six continents. For more information, visit www.connectsolutions.com.
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