Silverlink Communications Completes Series B Funding Led by HLM Venture Partners, L.P.; Sigma Partners Led Series A and Participated in Series B.
BOSTON--(BUSINESS WIRE)--May 19, 2004
Silverlink Communications, Inc., the leading provider of voice applications for the healthcare industry, announced today that it has closed its $5.6 million Series B funding round with HLM Venture Partners, L.P. as the lead investor. This follows a Series A funding one year ago which was led by Sigma Partners. Sigma and certain members of the Silverlink management team joined HLM in this round.
Silverlink's president and CEO Stan Nowak said, "In the past two years major healthcare enterprises using Silverlink's services have proven that automated, interactive voice communication is the most effective way to drive patient behavior and collect patient information. Our customers are seeing a dramatic, immediate and measurable impact on improving customer service, reducing administrative cost, and increasing revenue. We believe that giving healthcare companies the ability to communicate more effectively with patient populations directly contributes to the improvement of the healthcare system overall."
Nowak continued, "We are thrilled that a noted venture investor in the healthcare field, HLM Venture Partners, shares our excitement about Silverlink's potential and has led this round of funding. We appreciate HLM's long history of successful venture investing in the healthcare industry and its ability to add value to Silverlink. We appreciate also the continued investment and support of Sigma Partners, whose first round funding helped us achieve the significant progress we've made this year."
HLM partner Peter Grua will be joining Silverlink's board and noted, "Our research shows that the market in healthcare for automated calling is large and very rapidly growing. If healthcare companies are to meet their financial objectives, satisfy customers and uphold regulatory compliance, they must have the ability to proactively reach out to large member and patient populations in a cost-effective way. We are convinced that Silverlink's technology and services enable its customers to support these objectives better than anything else we have seen. We look forward to working with Stan and his team to meet a growing market need."
John Mandile, general partner with Sigma Partners, said, "Since our initial investment in Silverlink, the company has exceeded our expectations for customer acquisition, revenue generation, product evolution and progress toward profitability. We see long-term success for this company and are delighted to strengthen our relationship in this round of funding."
Founded in 2001 and headquartered in Burlington, MA, Silverlink Communications is revolutionizing outbound voice technology for the healthcare industry. Its patent-pending SAVVI(TM) (Silverlink Advanced Visual Voice Interface) software enables healthcare enterprises to create, execute and manage automated, proactive, personalized communications with thousands of patients or members at a time. With millions of calls completed to patients and members of leading national healthcare enterprises, Silverlink is helping to change the behavior of patients to improve the quality and reduce the costs of healthcare. For more information on Silverlink Communications, please visit www.silverlink.com.
About HLM Venture Partners
HLM Venture Partners, with $360 million under management, provides venture capital to emerging health care, business services and technology companies. HLM supports entrepreneurs as they turn innovative ideas into market-leading businesses, offering guidance on financial structuring, resource allocation and deployment, strategic planning, strategic introductions, and recruitment. For more information, please visit www.hlmventurepartners.com.
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|Date:||May 19, 2004|
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