Ann Arbor, Michigan – ForeSee Results Inc., a privately held online customer satisfaction measurement and management provider, today announced the completion of a US$5 million venture loan from MMV Financial.
ForeSee Results will use the proceeds from the financing to expand its sales and marketing efforts, so it can benefit from the large and increasingly attractive market opportunity.
"ForeSee Results is the market leader in the increasingly critical and strategic online customer satisfaction market. Web site operators are more focused on understanding and reacting to their customer behavior, and ForeSee provides a unique and proven solution that helps them in that direction,” said Ron Patterson, Executive Vice President, MMV Financial Inc. “We at MMV are excited about being part of Foresee’s growth as a major player in the online customer satisfaction market."
“This financing will provide ForeSee Results more resources to expand our sales and marketing team and seize the market opportunity that is presented to us. It will also help us maintain our position as a leader in the online customer satisfaction market,” said Larry Freed, President and Chief Executive Officer of ForeSee Results. “Support from investors such as MMV is a great validation of our offering and business model, and we are extremely pleased to have added MMV to our high caliber group of investors.”
Foresee also recently closed a US$15 million equity financing from Updata Partners and Swedish-based Investor Growth Capital.
About ForeSee Results
ForeSee Results is the market leader in online customer satisfaction management and converting satisfaction data into user-driven web development strategies. Using the methodology of the University of Michigan’s American Customer Satisfaction Index (ACSI), ForeSee Results scientifically quantifies the elements that drive online customer satisfaction and predicts future behaviors such as purchase, return site visits or referrals.
ForeSee Results currently conducts more than 450 measures for clients including 3M, Best Buy, Borders, Cingular, Comcast, DuPont, Forbes.com, Home Depot, Intuit, the IRS, Kellogg’s, NASA, the NHL, Sprint, TIAA-CREF, Weather.com, and Whirlpool. ForeSee Results, a privately held company, is located in Ann Arbor, Michigan and on the web at www.ForeSeeResults.com.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, NewStar Financial Inc., and Wells Fargo Company. For more information please visit www.mmvf.com.
MMV Financial Inc.
Executive Vice President
Tel: (416) 977-9718
ForeSee Results Inc.
Kearns & West
Tel: (415) 391-7900 x 114