Talisma has announced the first closing of private equity financing amounting to $12.3 million. Oak Investment Partners led the funding, with participation from Madrona Venture Group, SeaPoint Ventures and Cedar Grove Investments.
Talisma will use the financing to fund its product development, and to expand strategic partner and channel distribution. According to Pradeep Singh, Talisma founder and CEO, companies have a large, unserviced need for CRM solutions that empower the traditional contact channels, such as sales organizations and call centers, with the advantages of the Internet.
“Talisma’s powerful CRM offering, rapid deployment strategy and end-user empowerment enables a quick and high ROI for our customers,” said Singh. “Its momentum over the past year has proven that this proposition resonates with enterprise level businesses such as Lowe’s, Sony, EMI, Air Products, Bowstreet and others.”
Oak Investment Partners was founded in 1978 and has raised nine venture capital partnerships with a total of $2.6 billion in committed capital. Oak has sponsored over 340 companies with aggregate annual revenues in excess of $100 billion. Its portfolio companies include Inktomi, InterNAP, Exodus, Pivotal, and Primus.
Madrona Venture Group is an early-stage venture capital firm focused on the Internet economy in the Northwest. The firm targets investments in infrastructure and platform technologies, communications and networking and business and consumer software and services. Based in Seattle and Portland, Madrona has a $250 million fund that includes early-stage investments such as Amazon.com, Asta Networks, Nimble Technology, Terabeam and WildTangent.
Founded in 1997, SeaPoint Ventures started as a Pacific Northwest “point fund” associated with three preeminent venture capital firms: Oak Investment Partners, Sevin Rosen Funds and Venrock Associates. Since its founding, SeaPoint has led investments totaling over $100 million in funding.
Cedar Grove Investments is a unique private venture capital firm comprised of former senior executives from leading wireless and Internet companies. Cedar Grove invests in early stage electronic business software and services and next generation communication carriers and tools. Successful portfolio companies include Wireless Facilities, Loudeye, Metawave Communications, Tegic, Avenue A Media and 360 Networks.
Talisma Corporation is a full-service provider of enterprise-class eCRM solutions. Headquartered in Seattle, Washington, Talisma has more than 600 employees, with offices in India, Europe, Asia, Australia and 15 cities across the US. Customers include Real Networks, Exodus, Lowe’s Companies, MSNBC, NetGrocer.com, EMI and BlueNile.com. Talisma is privately held with investments from Oak Investment Partners, Madrona Venture Group, The Carlyle Group, SeaPoint Ventures and Cedar Grove Investments.