Relayware, a global provider of B2B external social collaboration and multi-channel communication solutions, recently raised up to $5.5M in a financing round led by Albion Ventures. The officials from Relayware said that company will use funds to to expand its US operations. Relayware was advised by FirstCapital.
Relayware is a provider of business to business collaboration and multi-channel communication solutions. The company delivers solutions to hi-tech, manufacturing, telecommunications, financial services, insurance and smaller and emerging businesses. With its range of collaborative sales, marketing, learning and support apps and multi-channel communication tools, Relayware enables networks of intermediaries to function as extensions of a business's own sales, marketing and support teams. The company has a global blue-chip customer list and has offices in the US and the UK.
"We are excited about partnering with Relayware. This transaction is the culmination of an extensive amount of research, which identified external social collaboration with indirect channels as a particularly high growth area across many industries,” said Emil Gigov, Partner at Albion Ventures. “With the rapid growth in adoption of enterprise collaboration software and the significant benefits to businesses of extending collaboration beyond their enterprise, we believe that Relayware presents a highly attractive investment opportunity."
Mike Morgan, Chief Executive Officer, Relayware said; "We are delighted to partner with such an experienced software investor as Albion. From our very first encounter, they immediately recognized the significant productivity gains that Relayware could bring to any company with an indirect channel to market regardless of size or market. The Albion team bring real depth of understanding of our target markets and the application of our technology and we believe their strategic support will help us achieve our ambitious growth plans."
In related news, Relayware recently introduced an upgraded version of its cloud service Relayware 2013 which boasts exciting new features like open communities, discussion groups, personal and company social profiles and crowd-sourcing. And the latest release offers user experience enhancements and has been designed to enable indirect channels to become interactive ecosystems and function as extensions of the company’s customers' own sales, marketing and support organizations.
Edited by Ryan Sartor