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Extraprise Closes Venture Financing to Support Expansion
BOSTON--(BUSINESS WIRE)--Aug. 23, 2005--Extraprise(R), a leading systems integrator and business process outsourcer focused on customer management, today announced that it has closed a $5.1 million financing round to expand its marketing services business and accelerate development of its Insight-to-Interaction hosted platform. The round includes venture investors Brentwood Ventures, Candover Investments, Commonwealth Capital Ventures, Flagship Ventures, High Street Partners, LightSpeed Ventures, MeriTech Capital Partners, The Productivity Fund, and individual investors.
Extraprise will invest the capital in marketing, sales, and R&D for the company's groundbreaking Insight-to-Interaction (i2i) platform, an on demand system that delivers data management, customer insight, demand generation, and customer management for major companies across the U.S. This marketing services infrastructure is tightly integrated with Extraprise's systems integration business focused on customer relationship management. The result is a unique, comprehensive solution that turns data into information, information into insight, insight into demand, and ultimately creates well-managed customer relationships. The i2i platform and services may be used in conjunction with systems that have been deployed using technology from leading CRM vendors such as Siebel Systems and Salesforce.com.
Extraprise's Chairman and CEO, Ken Marshall said, "In more than 1,000 engagements with hundreds of companies of all shapes and sizes, Extraprise has anticipated and leveraged the evolution of CRM strategy, process, and technology. Our 'i2i' platform and services are unequaled in helping companies realize the full benefit of their CRM investment - and they are backed by Extraprise's unmatched guarantee of success for every client. The best companies realize above average returns on their investments in operational CRM systems by collecting, analyzing, and creating actionable insight from their customer data and providing this information to the appropriate customer interaction channel in a timely manner. Only when this loop is completed do companies begin to see the full benefit of their CRM investment. Only Extraprise delivers this type of value."
"Extraprise has shown a consistent ability to provide value-added CRM strategy, business process, and technology services to a blue chip client base including GE, Pfizer, and Pitney Bowes through a business cycle that has claimed literally dozens of competitors," said Mark Koulogeorge, managing general partner of MK Capital. "With the development and delivery of an innovative set of hosted services, the company is uniquely positioned to offer its clients a cost effective means of realizing a measurable return on their investments in operational CRM systems."
Ken Rubin, executive vice president, Marketing at Iron Mountain said, "We selected Extraprise's marketing support services, including their i2i system, because we found it to be the easiest, fastest, and least costly way for us to automate our customer database marketing and campaigns. We learned other alternatives require expensive software, hardware, and integration, whereas the i2i system can be readily implemented. Within a short period of time using Extraprise's services, we gained actionable insight in order to precisely focus our marketing programs to get a maximum return on our marketing investments. Beyond the technology, Extraprise's marketing support services serve as an extension of our team to help execute programs and leverage their capabilities."
Extraprise(R) is a leading systems integrator and business process outsourcer focused on customer management. The company's "Insight-to-Interaction" (or "i2i") solutions are unique in combining data management, business insight, demand generation, and customer management. Only Extraprise enables clients to make their business insights actionable throughout their marketing, sales, and service channels. Solutions are available on premise and as an on demand service at the company's hosting centers. Extraprise is headquartered in Boston with offices across the U.S. Extraprise is on the Web at www.extraprise.com.
All trademarks are the property of their respective companies.
Extraprise, Inc.
Chad E. Gottesman, 610-793-1079
chad.gottesman@extraprise.com
or
CHEN PR, Inc.
Brenda Nashawaty, 781-672-3113
bnashawaty@chenpr.com
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