Crestline Invests in Broadvoice to Grow UCaaS, CCaaS Solutions
Hosted voice, unified communications and SIP trunking provider Broadvoice announced it has received a minority investment from Crestline Investors Inc., according to a statement released by the company.
Terms of the deal were not disclosed. Broadvoice’s existing leadership team will continue to manage the organization and maintain a majority stake in the company, according to the statement.
Crestline Investment: Expanding UCaaS and CCaaS Solutions
The investment will provide additional resources to further Broadvoice’s expansion in the unified communications as-a-service (UCaaS) and contact center as-a-service (CCaaS) market while supporting continued delivery of VoIP, cloud PBX and SIP trunking solutions, according to the statement.
Crestline Investors is a Fort Worth, Texas-based institutional alternative investment management firm founded in 1997. The firm specializes in opportunistic and credit investments, including financing and restructuring solutions for mature private equity funds, according to the statement. Crestline also has affiliate offices in London, New York City, Toronto and Tokyo.
Crestline’s Broadvoice Investment: Creating Lasting Value
“Today’s transaction marks another milestone in Broadvoice’s exciting history, as we continue to ramp our development, scale our operations and expand our portfolio of services,” said Jim Murphy, Broadvoice’s CEO. “What we saw in Crestline was a partner that believes in our vision, our team and our approach to the market. This is an opportunity to accelerate our current growth and leverage Crestline’s collective domain experience in the SaaS space. The pace of change is accelerating, and with this partnership, Broadvoice will provide even greater value to our customers, partners and employees.”
“We feel confident that Broadvoice is positioned to create substantial value for Crestline over the long run,” said Will Palmer, managing director for Crestline. “This transaction provides Broadvoice with an opportunity to strengthen its leadership position and capture more share of the fast-growing unified communications market.”