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| [November 26, 2009] |
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SupportSpace Secures $10 Million in Series B Funding
SOUTH SAN FRANCISCO, Calif. --(Business Wire)--
SupportSpace (News - Alert), the leading provider of on-demand remote tech support solutions, announced today that it has raised $10 million in funding. The round was led by Emergence Capital Partners, the leading venture capital firm focused on cloud-based business and consumer services, and also included previous investors BRM Group and Gemini Israel. SupportSpace will use the funds to enhance its infrastructure, expand its team and acquire new partners.
"We were immediately impressed with the SupportSpace team and their unique approach to the technology support market," said Kevin Spain, principal at Emergence Capital. "The market has already shown demand for SupportSpace's remote services solution and we expect to see continued interest as companies look to extend their services offerings."
SupportSpace was founded in 2006 and helps its vendor, operator and retail partners to expand their remote tech service offerings in a high quality, consistent way. The company's offering includes a SaaS (News - Alert) platform for the management, marketing and delivery of remote services and a network of virtual experts.
"We were very eager to work with the team at Emergence Capital because they have a tremendous network of companies and potential partners that we can learn from and work with. Combined with their domain expertise, we will be able to grow our business faster and more strategically," said Yair Grindlinger, co-founder and CEO of SupportSpace.
With this round of funding, Spain will join the SupportSpace Board of Directors. SupportSpace previously raised $14.25 million dollars in a Series A round of funding from BRM and Gemini.
About SupportSpace
SupportSpace was founded in 2006 and provides its technology vendor, retail and operator partners with on-demand remote tech support solutions. The company's offerings are delivered using a SaaS platform and a virtual expert network, the most effective means of delivering remote services. The virtual expert network empowers service providers to work on their own terms and provides numerous benefits to SupportSpace partners. SupportSpace is backed by leading venture capital firms including BRM Group, Gemini Israel and Emergence Capital Partners. For more information, please see www.supportspace.com.
About Emergence Capital Partners
Emergence Capital Partners is the leading venture capital firm focused on cloud-based business and consumer services companies. In 2002, Emergence Capital was the first to recognize the power and potential of SaaS to disrupt the technology industry and invested in some of the most successful companies including Salesforce.com (News - Alert) and SuccessFactors. Their mission is to help build market leading companies in true partnership with forward thinking entrepreneurs. Today the firm has over $325 million under management from premiere institutional investors. For more information, visit www.emcap.com.
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