H.I.G. Capital News
CellIt Receives $15 Million Capital Infusion for Global Expansion
HIG Ventures Leads Group of Domestic and International Investors
MIAMI - July 24, 2000 - CellIt, Inc., the software company that provides a comprehensive solution for managing customer interactions, announced today that it has secured an additional $15 million in financing. The funds will be used to further the company's aggressive global expansion strategy and to enhance the product, Contact Center Professional (CCPRO), so it continues to meet the increasing demands of next-generation contact centers.
This round of funding is comprised of investments from H.I.G. Capital, the largest private equity firm in Florida, formed by senior executives from Morgan Stanley, the Blackstone Group and Bain & Company, that focuses on market-leading Information Technology companies; Advent International, one of the world's largest private equity investment firms with more than $3.5 billion under management and an investor in CELLIT's initial round of funding in 1998; Cabletron Systems (NYSE: CS), a holding company for four of the most innovative, customer-focused organizations in the telecommunications and networking industry; and a group of private angel investors.
"We are extremely confident in CELLIT's technology and believe that it meets a significant and growing need in the $8 billion contact center solutions industry," said Brian Schwartz, Managing Director of H.I.G. Capital. "CELLIT is drastically changing the way companies around the world do business and is fast becoming the leader in comprehensive, web-enabled contact center software solutions."
CELLIT plans to utilize the funds to expand internationally, to grow its channel partner network and to enhance its product. The company is currently operating in North America, South America and Africa and is actively pursuing additional resellers in Europe and the Far East. In addition, CELLIT is consistently augmenting the product's capabilities to include the most cutting-edge technological advancements in web-enabled contact center software.
"Advent has been with CELLIT through its growth over the last year and a half and we believe that the company's strong product and management team will lead to tremendous growth and success," said Lindsay Jones, Partner, Advent International. "With this capital we will further our leadership position in the contact center solutions space and achieve the goals and projections we have set," said Alex Tellez, President and CEO of CELLIT.
H.I.G. Capital is the largest private equity firm in Florida managing more than $750 million in capital. The company's investment activities are focused on market leading, non-cyclical Information Technology, Internet and Communications firms with annual revenues between $25 and $250 million. H.I.G. was recently recognized as the number one private company in Miami-Dade by Miami Business Magazine. For more information, visit www.higcapital.com.
Since its founding in 1984, Advent International has financed over 400 companies and taken more than 115 companies public on exchanges worldwide. The firm is a leading investor in the telecommunications industry in the United States and internationally. Advent¹s corporate telecommunications partners include NTT, NTT DoCoMo, Sonera, KPN (Royal Dutch Telecom), Novell, Toshiba and Hughes. For more information, visit www.adventinternational.com.
Cabletron Systems is a holding company for four of the most innovative, customer-focused organizations in the telecommunications and networking industry: Enterasys Networks, Aprisma Management Technologies, Riverstone Networks, and Global Network Technology Services (GNTS). Listed on the New York Stock Exchange as CS, Cabletron is an S&P 500 index company. Cabletron's web site can be reached on the Internet at www.cabletron.com.
About CELLIT, Inc.
CELLIT, Inc. is a software company that provides a comprehensive solution for managing customer interactions, enabling businesses to ensure a consistent customer experience across all contact media. Contact Center Professional (CCPRO), the company¹s award-winning product, encompasses the numerous functionalities required by next-generation contact centers, including web chat and collaboration, email management, inbound skills-based routing, outbound dialing, interactive voice response (IVR), contact recording and reporting, fax, blended agent capabilities and remote agent support in one comprehensive solution. For more information, visit www.cellit.com or call 1-888-293-7250 .