CALGARY, ALBERTA – Friday Nov 11, 2005, 2005 – Elluminate, Inc. (“Elluminate” or “the Company”), a leading provider of live Web conferencing and eLearning solutions, has completed a significant financing round from MMV Financial Inc.
Elluminate’s live Web conferencing and eLearning software is sold to both the corporate and academic sectors in North America and internationally. The Company ensures the best user experience by providing superior quality VoIP communications that are in-sync regardless of connection speed, broad cross-platform support, and advanced yet easy-to-use moderator tools. The Company’s products create a rich, collaborative environment for live distance education, remote training and online meetings, while delivering lower upfront costs and strong ROI. Elluminate is the trusted choice of prominent organizations such as ADP, DeVry University, Georgia State University, Johns Hopkins University, PA Department of Education, Sun Microsystems, Apple Computer, T-Mobile, and many more.
“Elluminate’s web conferencing and eLearning solutions are state of the art. They allow a very rich, user friendly experience at a low price point to users.” said Ron Patterson, EVP MMV Financial. “The founders Nashir Samanani, CEO, and Mike Mabey, CTO are serial entrepreneurs and have built a substantial platform validated by top customers that is set to expand rapidly in the coming years.” Nashir Samanani, CEO of Elluminate said, "Elluminate is pleased to partner with MMV for the next stage of the Company’s rapid growth. MMV offered an innovative financing structure that matched Elluminate’s requirements. The financing allows Elluminate to strengthen its core technology and further establish its position as a global leader in real-time collaborative communication."
About Elluminate, Inc.
Headquartered in Calgary, Alberta, Canada and Fort Lauderdale, FL., Elluminate, Inc. provides award-winning solutions for real-time online learning and collaboration that enhance the learning experience, increase retention and completion rates, and remove traditional barriers to knowledge. Delivering best-in-class performance, Elluminate features high-quality VoIP, robust interactive functionality for participants and moderators, and unique No User Left Behind technology regardless of platform or Internet connection speed. For more information, visit http://www.elluminate.com.
About MMV Financial:
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to mid-stage technology and life sciences companies, with a focus on the Canadian and North American sectors. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including Conning Capital Partners of Hartford, Connecticut, Caisse de dépôt et placement du Québec of Montreal, and Wells Fargo Foothill, a part of Wells Fargo Company. For more information visit http://www.mmvf.com/
For more information contact:
Nashir Samanani, President & CEO
Executive Vice President
MMV Financial Inc.
Tel: (416) 977-9718
Fax: (416) 591-1393
Copyright ©2005 MMV Financial Inc. All rights reserved.