Exchange Solutions Secures $4.25 Million Venture Loan from MMV Financial Inc.
Issued by Exchange Solutions Inc.
Boston, MA, and Toronto, ON – May 14, 2008 – Exchange Solutions Inc. (ESI), a provider of innovative buyer-seller collaboration solutions and services, secured a $4.25 million venture loan from MMV Financial Inc. The Company is also backed by venture capital firms including Valhalla Partners, Ascent Venture Partners, and North Hill Ventures.
“ESI is a pioneer in the area of Collaborative Exchange Optimization, the next-generation of Customer Relationship Management solutions,” commented Ryan Kovac, Vice President of MMV Financial Inc. “This is a burgeoning area, and we believe that ESI has the team and partnerships to capitalize on this opportunity.”
“This financing addressed our working capital needs and enables us to focus on new customer engagements,” commented Alan Grant, CEO and co-founder of ESI. “MMV quickly understood our business and delivered as promised. We look forward to having them as a financial partner.”
ESI’s hosted technology application platform enables a company and an individual customer to collaborate in identifying win-win value “exchange solutions”. At every point of web, call center and in-store interaction the customer can assist in identifying, configuring and negotiating individualized solutions that also result in increased relationship profitability for the company. The Gartner Group has recognized ESI as the category-creating and leading provider of this innovative new class of performance improvement solution.
About Exchange Solutions Inc.
Headquartered in Boston with an office in Toronto, ESI is a category creating and leading provider of technology-enabled value exchange optimization solutions. ESI exchange solutions, provided on a hosted-basis, enable consumers and businesses to collaboratively identify “win-win” exchanges of value when they engage in web, call center or in-person interactions.
Chief Executive Officer
Exchange Solutions Inc.
About MMV Financial Inc.
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions 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 Quebec, HSBC, NewStar Financial Inc., and Wells Fargo Company. For more information visit: www.mmvf.com, or contact:
MMV Financial Inc.