Parature is one of the leading Customer Service and Support Software service providers in the field of Information & Technology. It has been recently announced that the company via a Series B round has been able to acquire $16 million in venture capital financing. Some of the biggest investors in the field of IT such as Paolo Alto, California based Accel Partners, Menlo Park and California based Sierra Ventures, high profile investors such as Ching-Ho Fung and Richard Wong were also present at the Series B round.

According to Parature, the funding obtained would be diverted to Parature’s company growth including, expansions of sales distributions, increased marketing efforts and a great deal of emphasis would be given to product innovation and business development.

Parature CEO (Chief Executive Officer) and President Duke Chung said, “As the global leader in on-demand customer service software, we are excited to announce this latest round of funding, marking a great milestone for our organization. Parature serves a vast market and is the fastest growing customer service and support company in North America, with a clear vision for the future of online customer service and support software. Parature is a tremendous success story with over 650 customers, ten million end-users and growing. This relationship with our new and existing partners will enable us to continue setting the standard for support teams worldwide, providing the smartest, most efficient way for organizations to support their customers.” Some of the most prominent names that make the customer base of Parature are Linden Lab, Trulia, Coremetrics, K2 Network, T-Mobile, Office Depot among many others. Parature customer count as of now is 650 and growing.

Parature’s work help companies enhance their customer support, through a series of Software-as-a-Service (SaaS) intuitive designs. This enables its clients to serve, support, engage with and retain customers with a higher degree of efficiency. According to Richard Wong (Partner, Accel Partners), “Parature had the foresight and vision to see the potential of the Software-as-a-Service (SaaS) model from the genesis of the company, and has clearly demonstrated its leadership in the on-demand customer service software market. Our due diligence revealed an organization that has an impressive track record, and accelerating momentum in the industry, which drove our interest to invest.”

After the successful Series B round, Parature CEO Duke Chung said, “Accel Partners has an impressive list of successful portfolio companies such as Facebook, Real Networks, Macromedia, Portal Software, UUNet, Veritas, MetroPCS and Riverbed, and has a reputation for making excellent investments, including many of Parature’s own customers. We’re proud to have attracted another top tier venture capital firm.”

Accel Partners:

Accel Partners was founded in 1983 and since then it has logged remarkable success in the venture capital business. Companies with Accel portfolios have been able to generate over $150 billion in market capitalization. Some of the big names with Accel’s portfolios are Admob, Actuate, Agile Software, Alfresco, AMCC, Arrowpoint, ComScore, Facebook, Foundry Networks, GlamMedia, Infinera, JBoss, Kayak, Macromedia, metroPCS, Polycom/PictureTel, QlikTech, Real Networks, Redback Networks, Riverbed, UUNet, Veritas, Walmart.com, XenSource and Zimbra.

Sierra Ventures:

Sierra Ventures was created in 1982 as a private venture capital firm, whose main goal was to invest in Information & Technology related companies. In partnership with 9 other venture capital firms, Sierra Ventures has currently over $1.5 billion worth of capital invested in the market. Companies with Sierra Ventures portfolios include Active Software (acquired by WebMethods), AmeriGroup, Centex (acquired by WorldCom), ConvergeNet (acquired by Dell), FatBrain (acquired by Barnes & Noble), FrontBridge (acquired by Microsoft), Healtheon (merged with WebMD), Interact Commerce (acquired by Sage), Intuit, Micromuse, On Assignment, OnLink (acquired by Siebel), Quinta (acquired by Seagate), StrataCom (acquired by Cisco), and many others.

Valhalla Partners:

Based in Vienna, Virginia, Valhalla Partners act as an advisor to entrepreneurs who wish to establish IT companies of global standards. As of now Valhalla Partners have invested in more than 120 companies and till now have been able to get about $1.5 billion as Return on Investments (ROI). Companies such as Advertising.com, BDMetrics, CareerBuilder.com, Clarify, EnterpriseDB, Epicor, Exchange Solutions, JumpTap, LeftHand Networks, Mobius, NextLink, Nirvanix, Progress Software, Proxicom, RealOps, Register.com, Riverbed Technologies, SafeNet, SEPATON, ServiceBench, Trilogy, and webMethods have all been heavily invested in by Valhalla Partners.

Parature Inc:

Parature Inc was founded in 2000 with is headquarters located in Vienna, Virginia. Its services are dedicated towards on-demand customer service software, thus providing businesses with opportunities towards improving their customer service with the help of the Internet. Parature received the 2007 Product of the Year Award from Customer Interaction Solutions magazine. Its name also features in the Inc. 5000 Fastest Growing Private Companies in America.

This entry was posted on Thursday, May 15th, 2008 at 8:24 am and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.