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REDWOOD SHORES, Calif., Sept. 30, 2013 /PRNewswire/ -- Relayware a global provider of B2B external social collaboration and multi-channel communication solutions, today announced that it had raised up to $5.5M from Albion Ventures to expand its US operations, accelerate its growth and extend its lead in technological innovation. Relayware was advised by FirstCapital.
Relayware has won numerous accolades from industry analysts for its industry leading integrated cloud service which enables enterprises to collaborate and communicate with external business partners at any time through any channel of communication. Collaborative applications address key business processes such as sales, marketing, support and training, driving rapid and sustained revenue growth and improved profitability. The company has a global blue-chip customer list and has offices in the US and the UK.
Emil Gigov, Partner at Albion Ventures, commented, "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. 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 responded; "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."
Bob Mann, Executive Chairman of Relayware added: "We welcome Albion as an experienced investor and business adviser. In Albion we have a partner that shares our conviction that Relayware fulfills a clear market need and delivers compelling benefits to businesses and their indirect sales channels."
Relayware is a global provider of business to business collaboration and multi-channel communication solutions. Relayware prides itself on delivering solutions to hi-tech, manufacturing, telecommunications, financial services, insurance and smaller and emerging businesses. Our powerful technology connects businesses and business people beyond the enterprise and facilitates effective communication and productive collaboration. With its comprehensive 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. Relayware not only improves communication, collaboration and productivity but also delivers rapid and sustained revenue growth and improved profitability.
About Albion Ventures
Albion Ventures LLP is a venture capital investor specializing in VCTs with around £230 million under management. The business of Albion Ventures was formerly known as Close Ventures. It was acquired by its management in early 2009 from Close Brothers Group plc. To date its VCTs have paid out over £117 million in dividends to shareholders.
Albion Ventures looks to invest £1-10m in a wide range of growing businesses, from technology-oriented companies to asset-based businesses. Albion Ventures is authorized and regulated by the Financial Conduct Authority.
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