Intelliworks Closes Growth Equity Round and Builds Leadership Team
Leading provider of relationship management solutions for higher education raises $4 million in growth capital and announces additions to leadership team
Rockville, MD — April 7, 2008 — Intelliworks, Inc., a leading provider of relationship management and marketing software built specifically for higher education, has raised $4 million in growth capital from existing investors Columbia Capital, Novak Biddle and RedShift Ventures. This additional funding will allow Intelliworks to expand development and marketing of its suite of Web-based, software-as-a-service (SaaS) relationship management and marketing solutions.
“We’re very excited at the progress we’ve seen with the company since the launch of its revolutionary new platform last year,” said Mark Frantz, General Partner, RedShift Ventures. “The Intelliworks team’s SaaS approach to CRM for higher education makes their solutions more accessible and flexible than other products on the market.”
Since launching its new Orion platform in July 2007, Intelliworks’ client base has grown dramatically to more than 50 higher education institutions, including The Annenberg School for Communication at UPENN, Empire State College – SUNY College for Adults, Ivy Tech Community College, Florida International University, New England College and Northeastern University’s School of Professional and Continuing Studies.
According to Diane Raymond, Director of Admissions at New England College, which has seen a significant percentage increase in enrollment using Intelliworks, “The Intelliworks solution allowed us to improve the efficiency of our admissions department by automating tasks such as outbound marketing, event registration and contact management.”
In addition to closing this round of growth financing, the company also announced the promotion of Sudeep Dharan from Vice President of Engineering to Senior Vice President of Product Development & Services, Worldwide. In his role, Dharan oversees product planning and engineering for Intelliworks as well as managing the company’s global development team.
The company has also added three new members to its leadership team, including:
• Lucian Taylor, Senior Director of Product Strategy;
• Carol Gersten, Director of Client Success; and
• Daniel Obregon, Senior Marketing Manager.
“Intelliworks has grown significantly over the last several months, and we’re proud to have this opportunity to continue to invest in our clients’ success, in our solution and in our team,” said Todd Gibby, President & CEO of Intelliworks. “The support of Columbia Capital, Novak Biddle and RedShift Ventures is a testament to the compelling opportunity and unique value proposition that Intelliworks’ software offers the higher education market.”
About Intelliworks
Intelliworks, a leading provider of relationship management and marketing software for higher education, enables institutions to communicate effectively with prospects, applicants, students, and alumni. Orion’s Web-based technology helps admissions and enrollment personnel improve operational efficiency because of its configurability and flexibility. Leading institutions around the globe leverage Intelliworks’ solutions to generate revenue, increase enrollment and enhance departmental performance. Please visit http://www.intelliworks.com.
About Columbia Capital
Columbia Capital is a premier venture capital franchise in wireless, broadband, media, and enterprise information technology investing. Since our formation in 1989, we have taken a sector-focused approach to investing, and have funded over 120 companies in our core markets. Our sector focus allows us to regularly identify disruptive emerging companies and to recognize and build value throughout a company’s lifecycle – from early stage investments, to large growth stage financings and special situations. For more information, visit www.colcap.com
About Novak Biddle Venture Partners
Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide. With $580 million under management, Novak Biddle operates five venture funds that currently provide equity financing and management assistance to 42 portfolio companies. Novak Biddle continues to seek business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. A sampling of companies funded by Novak Biddle include: RFID first-mover Matrics, voice over IP trailblazer Telogy, education technology leader Blackboard Inc. and intelligent video surveillance pioneer ObjectVideo. For more information, visit www.novakbiddle.com.
About RedShift Ventures
RedShift Ventures is an early stage venture capital firm with approximately $220 million under management. Focused on technology transfer and spin-outs for more than a decade, RedShift Ventures invests in companies that leverage a broad range of advanced technologies to provide compelling solutions for diverse, rapidly growing markets. For more information, please visit www.redshiftventures.com.
