WEBTONE SECURE $20 MILLION IN FUNDING
ATLANTA, October 31, 2002 -- WebTone Technologies, Inc., a leading provider of enterprise-wide customer interaction solutions for financial services institutions, announced today that it has secured $20 million in equity funding, led by Technology Crossover Ventures (TCV). The company plans to use this funding to expand its presence in the financial services industry.
TCV is a $2.5 billion fund based in Palo Alto, California. John Drew, a general partner at TCV, will assume a seat on the WebTone board of directors.
This financing round also includes an individual contribution from Michel Akkermans, chairman and CEO of the Belgium-based e-finance company, Clear2Pay. Akkermans, former executive chairman of FICS NV and S1 Corporation (Nasdaq: SONE), also joins WebTone’s board.
“TCV’s recognized national reputation, exceptional network, and extensive experience as a leading provider of growth capital to later-stage technology companies will provide us with a wealth of insight as we grow our company,” said Jim Szyperski, president and CEO of WebTone Technologies. “We enthusiastically welcome international industry veterans of the stature of John Drew and Michel Akkermans to our board. This investment, combined with our fully referenceable customer base, highlights our commitment to a leadership position in enterprise-wide, multi-channel customer interactions.”
“Our investment in WebTone is a testament to our strong belief in the company’s vision and its proven ability to execute on its business objectives,” said Jay Hoag, founding partner at TCV. “WebTone has delivered 65% compounded revenue growth over the last three years. TCV’s investment in the company underscores our belief that WebTone has targeted a substantial market and will be a growing force in helping financial institutions achieve their goals of predictable, consistent, and profitable customer interactions across the entire enterprise.”
About TCV
TCV is a leading provider of growth capital to technology companies, providing funds to expansion, late-stage private, and public companies - and managing a technology focused public equity vehicle. Founded in 1995, with more than $2.5 billion under management, the firm has twelve partners and is headquartered in Palo Alto, California.
About Michel Akkermans
Michel Akkermans is chairman and CEO of Clear2Pay, a payment enabling technology company. An e-finance pioneer, Michel founded FICS, a software provider in the field of internet banking and regulatory financial reporting. Under his leadership, FICS grew to employ over 700 employees worldwide and achieve revenues of over USD 70 million. In 1999, FICS, together with Edify and Vertical One, merged with Security First Technologies, to create S1 Corporation. Michel also holds several board directorships in various financial technology companies.
About WebTone Technologies
WebTone Technologies provides solutions that optimize the interaction between financial service institutions and their customers. The company’s flagship solution, TouchPoint®, combines robust sales, service and fulfillment functionality with the latest in multi-channel interaction management to allow institutions to consistently, predictably and profitably interact with their customers across the entire enterprise. With its enterprise-wide reach and multi-channel functionality, TouchPoint enables a complete, 360-degree interaction between an institution and its customers. For more information, please visit www.webtonetech.com, or call 866-WEBTONE.
