dna13 Raises $5M in Series A Funding - Company set to accelerate sales, marketing and partnerships
NEW YORK, NY and OTTAWA, May 8 /CNW Telbec/ - dna13 Inc., a leading provider of stakeholder relationship and reputation management software for Fortune 1000 and emerging companies, today announced the completion of its Series A financing in the amount of CDN $5 million. Both Celtic House Venture Partners and Propulsion Ventures participated in the round. The financing will support the acceleration of marketing, sales and partnerships needed to bring the dna13 software as a service offering to a broader base of Fortune 1000 and emerging companies. dna13 was advised by Sapient Capital Partners.
"dna13 has distinguished itself over the past five years servicing name brand companies in the financial services sector, consumer goods and manufacturing sectors," said Andrew Waitman, Managing Partner at Celtic House.
"dna13 went out of its way to build a software offering that is unique, delivers demonstrable return on investment and has proven to become essential in helping global and emerging corporations manage their brand and corporate reputation."
Since 2002, dna13 has built out an install base of over 75 companies and it has secured several partnership agreements with key channel partners and content providers such as PR Newswire, CNW Group, Thomson Dialog, FPInfomart and Moreover. Much like Salesforce.com, the company does not ship software and the associated implementation and management complexities. The dna13 portal includes an integrated set of communications management, monitoring and measurement software aimed at helping key stakeholder managers and executives build brand and manage corporate reputation.
Large public and emerging corporations have several stakeholder management teams that ultimately need to manage their issues and projects in a secure, collaborative environment inside large or distributed organizations.
"dna13 has brought our entire team of public, investor and government affairs managers onto the same page," said Frank Switzer, Director of Public Affairs at Scotiabank. "It enables us to more effectively manage our workflow and keep pace with market intelligence and corporate mentions in the media and on the Internet."
Thomas Birch, Managing Partner at Propulsion Ventures agreed. "Until the advent of dna13, large brands and emerging companies were challenged to keep up with the speed of how information flows through the Internet," he said. "We were particularly impressed with the install base of users and their underlying loyalty to the software and the dna13 team."
"I am pleased with the response and interest we received from Celtic House and Propulsion Ventures with the able assistance of Sapient Capital Partners in managing the transaction", stated Chris Johnson, CEO of dna13. "The customer and channel traction virtually guaranteed our ability to secure venture capital and bring our software to a broader base of users and partners across the globe."
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About Celtic House Venture Partners
Celtic House Venture Partners (Celtic House), a recognized leader in Canada's venture capital industry, specializes in early stage investments in high technology companies originating in North America and the United Kingdom and operating in the Communications, Networking and IT Infrastructure market segments. Celtic House comprises five investment professionals who have raised three funds and currently manage over US$500 million in assets. For more information please visit www.celtic-house.com.
About Scotiabank
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 57,000 employees, Scotiabank Group and its affiliates serve approximately 12 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With $396 billion in assets (as at January 31, 2007), Scotiabank trades on the Toronto (BNS) and New York (BNS) Stock Exchanges. For more information please visit www.scotiabank.com.
About Propulsion Ventures
Founded in 1995, Propulsion Ventures is a top tier venture capital firm with $200 million under management. Propulsion actively invests in promising early-stage software companies in Canada. Propulsion Ventures, based in Montreal, is one of four of Telesystem venture capital firms that operate worldwide. Telesystem has offices in Montreal, Boston, London and Johannesburg. For more information please visit www.propulsionventures.com.
About Sapient Capital Partners
Sapient Capital Partners is a financial advisory firm focused on the unique challenges and opportunities for private, small to mid-size companies. Sapient assists its clients in growing their businesses, providing strategic advisory services relating to changes in strategy, mergers & acquisitions, divestitures, management buyouts and buyins and sourcing of capital of all kinds. For more information please visit www.sapientcap.com.
About dna13 Inc.
dna13 Inc. is a leading provider of stakeholder relationship and reputation management software for Fortune 1000 and emerging companies. dnaEnterprise offers extensive communications management, global media directories, analysis and integrated media monitoring (print, Internet and broadcast television news). It provides communication professionals, stakeholder managers and executives the means to securely manage their communications and uphold their brand and reputation in real-time. Founded in 2001, dna13 is headquartered in New York City and Ottawa, Canada. For more information please visit www.dna13.com.
For further information: Andy Church, Vice President of Marketing, dna13 Inc., (613) 562-0232, x 229, achurch@dna13.com
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