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Frontier Capital Completes Growth Investment in ConnectSolutions, Inc.
By: Business Wire
Jan. 14, 2013 07:01 AM
Frontier Capital is pleased to announce its investment in ConnectSolutions, Inc., a leading private-cloud service provider of Unified-Communications-as-a-Service (UCaaS) solutions for large enterprise and government organizations.
Based in San Francisco, California and Columbus, Ohio, ConnectSolutions deploys best-of-breed communication, conferencing, and collaboration applications on a secure, reliable, and scalable platform. By partnering with leading technology providers including Adobe, Microsoft, and Cisco, the company works with its clients to architect a comprehensive UC solution that is specifically tailored to an organization’s needs. ConnectSolutions’ UC3 Platform™ eliminates the complexity and risk of building and managing a UC stack internally while achieving rapid deployment, lowering overall costs, and improving quality of service.
The company will continue to be led by co-founders Michael Fitzpatrick, Chief Executive Officer, and Chris Tennant, Chief Technology Officer. Frontier’s $10 million minority equity investment provided growth capital to support the company’s continued expansion and liquidity for shareholders.
“Frontier is excited to partner with a team with such deep domain expertise,” said Joel Lanik, Partner of Frontier Capital. “ConnectSolutions is well-positioned to become a leading managed services provider for many of the top products in the UCaaS and web conferencing markets."
“Over the past several years, we have significantly grown revenues and increased market share through meaningful relationships with technology and channel partners,” said Michael Fitzpatrick. “With Frontier’s support and strategic guidance we will accelerate that growth.”
The ConnectSolutions investment builds on Frontier’s long-standing expertise in technology enabled business services. The transaction closed on December 27, 2012.
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com.
ConnectSolutions provides managed private cloud deployments for unified communication for enterprise and government organizations. Solutions combine proven scale and reliability with expertise in enterprise-class integration and adoption programs. The company’s global UC3 platform has delivered over 3 billion minutes of web conferencing and collaboration. With a focus on enterprise and government customers, solutions have been used to facilitate one-on-one virtual collaboration and addresses by the President of the United States to global audiences. Users of ConnectSolutions products have participated from over 170 countries on six continents. For more information, visit www.connectsolutions.com.
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