SALT LAKE CITY–(BUSINESS WIRE)–July 8, 2003–Echopass, a leading provider of hosted contact interaction solutions, today announced it has secured an additional $4 million in Series B funding led bynew investor Cardinal Venture Capital and supported by existing investors NEA, Canaan Partners, and Outlook Ventures. The funding brings Echopass’ venture investment to more than $40 million.Cardinal Venture Capital’s general partner Chris Hadsell will join the Echopass board of directors. The Series B round provides for additional investment over the next year.
“Hosted software solutions satisfy the growing demand of enterprises for scalable software solutions that can be deployed quickly and reliably without upfront capital expenses,” said Hadsell, who brings the firm’s expertise as investors, entrepreneurs and operational managers in high-growth companies to the board. “When we surveyed the marketplace, Echopass stood out as the leading service provider able to deliver a full suite of robust, proven software services to address the complex requirements of enterprise contact center managers as well as outsourcers. This assessment, combined with the quality of the management team led by CEO Vincent Deschamps allowed us to be confident in our decision to invest in Echopass.”
Echopass will use its funding to accelerate its sales and marketing initiatives and to expand the partnership programs they already have established with powerhouse companies like Genesys Telecommunications Laboratories and salesforce.com. These alliances are resulting in pre-integrated solutions for mid-market companies allowing them to deploy complete contact center and CRM solutions in a fraction of the time and expense of traditional premise-based alternatives.
About Cardinal Venture Capital
Cardinal Venture Capital focuses on investments in early-stage software companies. With a team experienced in venture capital investing, entrepreneurship and operations, Cardinal provides assistance in strategy, financing, recruiting and business development in order to help entrepreneurs build successful businesses. For more information, visit www.cardinalvc.com.
About Echopass
Echopass Corporation is the leading provider of hosted contact interaction solutions for mid-tier enterprises, departments and branches of large enterprises and outsourcers worldwide. With a wide range of flexible inbound outbound customer contact solutions, Echopass delivers rich functionality that is easy to deploy and use. Echopass takes the pain and complexity out of implementing telephone and web-based customer contact solutions by integrating best-of-breed technologies and offering a full suite of service packages on demand. With Echopass, customers enjoy the benefits of high impact, cross-channel customer sales and service applications in less time and at a lower cost than traditional, premise-based, multi-vendor systems. Founded in 2000, Echopass is privately held, backed by top tier venture capital firms and headquartered in Salt Lake City, Utah. For more information, visit Echopass at www.echopass.com or call 1-801-258-7000.
