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[July 02, 2006]
CRM software co e-Glue raises $10m
(Israel Business Arena Via Thomson Dialog NewsEdge) Start-up e-Glue Business Technologies Inc. today announced that it had raised $10 million in its second financing round. Evergreen Venture Partners led the round with a $5 million investment, and was joined by existing shareholders Cedar Fund and Giza Venture Capital, private investors Shimon Alon and Ron Zuckerman, and Kibbutz Ein Shemer and Kibbutz Maagan Michael. This was Evergreen's first investment from the Evergreen V Fund.
Founded in 2001, e-Glue raised $7 million prior to the present round. The company develops and markets a software package for improving performance and quality, and increase sales in real-time to customer service call centers. Proceeds from the financing round are intended to further development of new applications for customer service centers and the marketing of new products worldwide.
e-Glue was founded in Ein Shemer on the basis of know-how of young programmers from the kibbutz, including CEO Omer Geva and VP business development Moshe Avlagon. The company's software provides customer service call centers, sales centers, and support centers with real-time information to improve their efficiency and boost company sales.
Geva said today that many enterprises in the US and Europe were beginning to discover the great potential in the critical seconds in which a window of opportunity opened between a service center and the customer. e-Glue provides these enterprises with advanced tools to manage in real time all the opportunities before the enterprise during these critical seconds in every interaction with a customer, he said.
Evergreen Partners managing partner Erez Shachar said, Evergreen is looking for entrepreneurs and companies with the potential of becoming worldwide leaders in their fields, in markets with great potential. In e-Glue, we found a first-rate team of entrepreneurs and mangers, a market with significant growth potential, and products that are sold to leading customers in their fields. We believe that the company can become a large and thriving company.
Published by Globes [online], Israel business news - www.globes.co.il - on July 2, 2006
Copyright of Globes Publisher Itonut (1983) Ltd. 2006
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