Thursday, May 15, 2008

Passenger, the leader in on-demand customer collaboration got funding of $8 million

What Company Is Offering:
Passenger is the leader in on-demand Customer Collaboration. Through Passenger-powered Customer Collaboration, companies gain insight, drive innovation and build advocacy. Passenger combines leading community, collaboration and analytics technologies - into a single intuitive platform, delivered Software-as-a-Service.

How Much They Got From VCs:
Passenger, the leader in on-demand customer collaboration, today announced its series C funding of $8 million, led by existing investor StarVest Partners, a venture capital firm with key investments in technology-enabled business services. Larry Bettino, general partner of StarVest Partners will join Passenger’s Board of Directors. All previous investors also participated in this round including Shelter Capital Partners and Steamboat Ventures. The latest round will bring Passenger’s funding to $20.5 million.

The funding signifies a strong vote of confidence in Passenger’s solution which combines its pre-eminent, Software-as-a-service (SaaS) platform with its strategic consulting services, enabling many of the world’s most innovative brands to collaborate with its key customers to design better customer experiences. The funds will allow the company to solidify its position as the defining leader in this space while also fueling international expansion.

About VCs:
StarVest Partners is a disciplined venture capital firm that is funding and building next-generation businesses. The firm’s value-added partnership maintains a core focus on five key emerging technology and services sectors: Software as a Service (SaaS), Internet Marketing Services, eCommerce Services, Data and Content Services and Identity and Security Management. StarVest combines a sophisticated investment background with the experience to foresee opportunities for both its portfolio companies and funding partners. More information about StarVest is available at the company’s Web site:


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