BEVOCAL CLOSES $10 MILLION OVERSUBSCRIBED FUNDING ROUND; HIRES VP OF SALES AND CLIENT DEVELOPMENT
Funding to Support Increasing Demand for Company's Self-Service Voice
Application Solutions in Customer Care Call Centers
BeVocal, Inc. - Mountain View, CA, April 18, 2005 - BeVocal, a leading provider of hosted call automation solutions to
enterprises and service providers, today announced it has closed an
oversubscribed $10 million funding round and hired a new Vice President
of Sales and Client Development. The round is being led by ArrowPath
Venture Partners, with participation by previous investors Mayfield,
Technology Crossover Ventures, and US Venture Partners. The additional
capital will be used to scale BeVocal's operations to accommodate
increased customer demand for its hosted self-service voice application
solutions.
"BeVocal's hosted self-service voice application solutions have hit a
sweet spot with enterprises and service providers who are looking to
more efficiently run their call center operations," said ArrowPath
partner Rick Friedman. "By implementing post-launch tuning cycles and
pay-for-performance pricing, BeVocal ensures that customers get optimal
results from their self-service initiative. We anticipate BeVocal's
continued growth and success as it helps its clients drive down costs
and improve the customer experience."
BeVocal also announced it has named sales veteran John Mahlmeister to
lead the company's client development efforts. Mahlmeister brings more
than 14 years of experience delivering specialized solutions to large
enterprises. In his new role, he will be responsible for managing
BeVocal's client development and sales teams, expanding the footprint
of BeVocal's hosted self-service voice application solutions in
enterprise and service provider customer care call centers.
"John has a proven track record structuring, selling and delivering
strategy, operations, and technology-based solutions to Fortune 500
companies," said Mikael Berner, CEO of BeVocal. "John is experienced in
helping enterprises solve complex business problems, and will be the
ideal person to drive home the benefits of hosted speech solutions to a
call center's bottom line and to their customer satisfaction. We are
delighted, as we know our clients will be, to have him at the helm of
our sales organization."
Most recently, Mahlmeister served as VP of Business Development at
Securify, an enterprise software company focused on providing network
security solutions, where he restructured the organization's
distribution channels, doubling their productivity within the first six
months. Prior to this, Mahlmeister served as Director of West Coast
Sales and Client Services for Totality Corporation, an outsourcer of
e-commerce systems, where his team tripled revenue under management in
nine months. Mahlmeister also served as a Principal at Gemini
Consulting, providing strategic management consulting services to
Fortune 500 companies. He started his career as an Engineer and Program
Manager for General Motors, after earning his MBA from The Wharton
School and a BSEE from General Motors Institute.
"BeVocal gives companies a low risk way to dramatically improve call
deflection rates and customer service," said Mahlmeister. "Unlike the
customer premise-based vendors, BeVocal utilizes a pay-for-performance
model, enabling businesses to determine their automation goals and pay
only when those goals are achieved. BeVocal's approach of partnering
with customers to ensure optimal application performance is refreshing,
and I look forward to helping the company build on its client
successes."
About BeVocal, Inc.
BeVocal provides hosted self-service voice application solutions which
help enterprises and service providers reduce operating costs while
significantly improving customer service levels. Working with a rich
library of voice application modules optimized for performance and
usability, BeVocal's solutions delivery team can deliver high quality
solutions deployed on BeVocal's hosting network to answer, automate and
route customer care calls. BeVocal also provides a carrier grade
application hosting environment, and tools for clients and partners to
build their own voice applications using BeVocal Café, the industry's
top VoiceXML development environment. BeVocal is headquartered in
Mountain View, California. For more information, go to www.bevocal.com or call 650-641-1448.
About ArrowPath Venture Capital
ArrowPath Venture Capital, based in Redwood Shores, California, is a
unique, early-stage venture capital firm with over $400 million under
management. ArrowPath focuses on early and expansion stage companies
developing highly differentiated enterprise and infrastructure
technologies that offer a compelling value and have the prospect of
achieving market leadership. To learn more about ArrowPath, visit www.arrowpathvc.com.
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