Brainshark, Inc. Secures $6.9 Million Financing in Oversubscribed Round.WALTHAM, Mass. -- Bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish Outlook For Company's Leadership in Rapidly Growing Segment of Web-based Communications Market Attracts Investment from New and Existing Investors to Fund Expansion Brainshark, the leader in on-demand rich-media communications solutions, announced today that it has successfully completed a $6.9 million round of Series C financing. The funds will be used to further establish and grow Brainshark's leadership position in the market, accelerate the growth of its sales force, and expand distribution channels. New investor Ticonderoga Capital was joined by previous investors 3i, Flagship Ventures, SI Ventures and Citizens Capital in this oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. round. Tyler Wick of Ticonderoga Capital will join the Board of Directors. Brainshark provides web-based applications See Web application. that enable users to communicate more quickly and effectively using voice-enriched on demand presentations that can be created and viewed at each person's own schedule and convenience. Brainshark excels at uniquely offering the ease of use that businesspeople want with the enterprise-class capabilities that Fortune 1000 companies need in terms of scalability, feature sets, security, flexibility, reporting and tracking, and the ability to integrate with other applications and business processes. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Wainhouse Research, the on-demand segment of the web-based collaboration and communications market is growing at a compound annual growth rate of 94%. Brainshark is experiencing strong demand for its solutions which are used in selling, marketing, training, and corporate communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. to reach audiences with rapidly-delivered, highly effective and trackable communications. "What attracted us to Brainshark were the demonstrated results and experiences of the companies in its stellar and growing customer base of over 300 blue-chip companies Blue-chip company Used in the context of general equities. Large and creditworthy company. Company renowned for the quality and wide acceptance of its products or services, and for its ability to make money and pay dividends. Gilt-edged security. ," said Tyler Wick, co-founder, Ticonderoga Capital Inc. "Customers using Brainshark's applications are realizing high return on investment, and increasing their usage month-over-month - and are quite enthusiastic about it, with good reason. We're confident of the outlook for this market, and are excited to join with existing investors in helping Brainshark to leverage the strong and rapidly growing demand for its solutions." "The on-demand segment is one of the fastest growing areas of the web based Coming from a Web server. See Web application. collaboration and communications market, and Brainshark is very well positioned with a well integrated suite of offerings, brand-name customers, and key partner relationships," said Paul Ritter Paul Ritter is an Australian architect, planner, sociologist, artist and author. Ritter was born in Prague in 1925, the son of Carl Ritter and Elsa nee Schnabel. In 1939 he was evacuated to England. , Research Director with Wainhouse Research . "Communications and training tools that allow companies to rapidly create and deliver compelling content are the drivers that are fueling the growth of the on-demand rich media sector." "The overwhelming success achieved during this recent round of financing further supports the compelling business need we serve and strategically positions Brainshark to take full advantage of the market growth at this most opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. time," said Joe Gustafson, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Brainshark. "Securing funding from such a distinguished pool of new and existing investors enables us to strengthen our leadership stake and leverage market expectations." About Brainshark, Inc. Brainshark, Inc. is the leading provider of rich-media solutions that enable companies to communicate business knowledge quickly and consistently. The Brainshark Communications Platform empowers the average business professional to create, manage, and share on-demand presentations that combine voice, text, graphics, and business documents. With its enterprise-class content management, security, and standards-based API's, Brainshark is the choice of global companies to communicate faster and more effectively with their employees, customers and partners. Companies are increasing revenue and reducing cost using Brainshark solutions for sales, marketing, training, and corporate communications. For more information, visit www.brainshark.com. About Ticonderoga Capital Ticonderoga Capital is a venture capital firm focused exclusively on expansion stage technology-enabled business services companies. With $200 million under management and offices in Wellesley, MA and Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA, Ticonderoga makes $2-$5 million equity investments in growth capital, shareholder liquidity, and recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. financings. Ticonderoga targets companies that have developed proven business models with experienced management teams and predictable revenue and profit growth. For more information, visit www.ticcap.com. About Flagship Ventures Flagship Ventures is an early-stage venture capital firm focused on creating, financing, and building companies in the Life Science and High Technology sectors. Flagship's team of fourteen investment professionals is among the most experienced in the industry and represents a balance of venture capital, corporate executive, and entrepreneurship expertise. Headquartered in Cambridge, MA, Flagship Ventures was founded in 1999 and manages approximately $800 million. For more information, visit www.flagshipventures.com. About 3i 3i is a leading international venture capital and private equity firm that was founded in 1945 to invest in buyouts, growth capital and venture capital in order to create market-leading companies. Since its inception, 3i has invested over $32 billion worldwide and has a total staff of 700 employees operating out of 28 offices in 14 countries. In the U.S., 3i invests in both early and late stage technology companies in the software, communications, semiconductor and healthcare sectors. 3i partners leverage over 150 years of investing and operating experience and a global network to create value for their portfolio and investment partners. With a proven track record and knowledge of venture capital investing, 3i provides hands on support and guidance in building and scaling successful businesses. Visit 3i and its portfolio at www.3i.com. About SIVentures SI Ventures is a leading Southeastern Venture Capital firm focusing on information technology (IT) and communications infrastructure companies. The SI Ventures team consists of a unique combination of executives with operational experience and industry knowledge, enabling portfolio companies to reach superior results. In addition to the expertise of the managing directors and the SI Ventures team, the firm has a unique strategic partnership with Gartner, the world's leading provider of IT research and analysis, market intelligence, consulting and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . The ability to access more than 1000 analysts and consultants and the capability to reach more than 1 million IT professionals through SI Venture's relationship with Gartner are assets unheard of Not heard of; of which there are no tidings. Unknown to fame; obscure. - Glanvill. See also: Unheard Unheard in the venture capital arena. Visit SI Ventures at www.siventures.com. About Citizens Capital Citizens Capital, Inc., the private equity arm of Citizens Financial Group, Inc., provides equity and mezzanine capital Mezzanine capital (or mezzanine debt) is a broad financial term that refers to unsecured, high-yield, subordinated debt or preferred stock that represents a claim on a company's assets that is senior only to that of a company's shareholders. to privately held businesses across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Headquartered in Boston, Citizens Capital was founded in 1997 and has invested more than $500 million in a variety of stages of growth ranging from venture capital to leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. and recapitalizations. Growth equity investments typically range from $1 - $3 million and subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". investments typically range from $3 - $15 million. For more information, visit Citizens Capital and its portfolio at www.citizenscapital.com. |
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