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Symbiot's New Funding Launches Strategic Network Support for Building Service Sectors.

LEXINGTON, Ky. -- Symbiot Business Group, a consolidator in the Property Services Market, providing multiple property services to over 450 sites across the US in 37 states, announces receipt of $2 million in funding from vSpring Capital and the Rocky Mountain Investors, LLC. This first round of institutional funding provides a green light for Symbiot's roll out of new technology products and infrastructure support for the high value networks that Symbiot has created in the Property Services Market.

"This investment is another significant milestone for Symbiot," said Drew St. John, VP of Sales and Marketing for Symbiot. "This additional capital will help us accelerate our progress in effectively competing in national markets and driving more value for our Network Partners."

"As property managers increase the scale and scope of their operations, they are looking for service providers with a national footprint that can offer consistent, reliable service," Symbiot's CEO Bruce Wilson states.

Funding Marks the Launch of Strategic Network Support

One of the tactical elements initiated with this funding is the establishment of three vital network support hires: a Chief Technology Officer (CTO) and two National Contract Sales Executives.

Tyler Whitaker, Chief Technology Officer, will be overseeing the Strategic Partner Research and Development Divisions, thus allowing Symbiot to position itself as the R&D unit for each of its partners in the technology area. Symbiot draws from vast service sector experience to develop technology products and systems that enhance its partner's productivity and profitability. The essence of Symbiot is empowering its partner companies with "competitive advantages" in areas of sales, purchasing, best practices & technology.

Whitaker, who has more that 13 years experience in software development in corporations such as Echopass, Sento and WordPerfect Corporation, has positioned firms to land technical support contracts with several Fortune 500 companies, including Gateway Computers and Network Associates.

J. Dan Ledbetter and Linda Milark, Symbiot's new National Sales Executives, will apply over forty years of combined expertise to meet the needs of sales partners by identifying and obtaining national sales contracts. Ledbetter will be focusing primarily on Symbiot's Pest Services, and Milark the Interior Plant Network.

Ledbetter brings to Symbiot an array of sales records including the first national account manager at Orkin to sell and manage over $2 million in one year. While Linda Milark has been a professional sales & marketing executive for 21 years, the last twelve years she has acted as CEO of her own sales firm with a primary focus on national accounts. Milark is a sought after sales speaker for select private corporations, industry events and academic programs.

About vSpring Capital

Known as one of the leading funds in the region, vSpring Capital has a reputation for identifying companies with significant potential and shaping strategies to grow them into market leaders. For more information, please visit http://www.vspring.com.

About Rocky Mountain

Rocky Mountain Investors, comprised mainly of property service business leaders, were looking to expand their market opportunities and build the bridge between early business development and the later rapid growth phases of a business.

About Symbiot Business Group

Based in Sandy, UT, Symbiot Business Group (http://www.symbiot.biz) represents over 600 partner companies and a combined annual buying strength of over $1 billion. The Symbiot Landscape Network is the second-largest landscaping entity in the U.S. with over 300 partners and nearly $1.1 billion in combined sales. Symbiot InteriorScape Network is the largest network of its kind in the United States. The Symbiot Pest Management Network is set to be the nation's largest pest management network in 2004.
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Publication:Business Wire
Date:Sep 15, 2004
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