Send Word Now raises $14m more
NEW YORK--Send Word Now, a provider of emergency notification software as a service, announced this week $14 million in Series D financing, roughly 10 months after closing on $8.5 million in Series C financing. The current round of funding was led by new investor Palisade Concentrated Equity Partnership, a $140 million private equity fund managed by Palisade Capital Management, with continued support from existing investors Southpaw Asset Management and Ascend Venture Group.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re growing very rapidly,Ã¢â‚¬Â said Send Word Now chief executive officer Tony Schmitz, Ã¢â‚¬Å“and we wanted to make sure we had the resources we needed.Ã¢â‚¬Â
Because of that growth, the organized raise Ã¢â‚¬Å“wasnÃ¢â‚¬â„¢t difficult,Ã¢â‚¬Â said Schmitz. Ã¢â‚¬Å“There was interest in general and we were able to get the round closed without much difficulty.Ã¢â‚¬Â
Also, this was begun before recent financial turmoil, so the funding wasnÃ¢â‚¬â„¢t affected.
The money, said Schmitz, will go toward sales and marketing efforts, as well as research and development. Further, Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re a software-as-a-service business, so we have our equipment in various facilities around the country,Ã¢â‚¬Â he said. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking at growing our footprint in terms of data centers that weÃ¢â‚¬â„¢re in.Ã¢â‚¬Â
With a growing list of customers in higher education, Fortune 500 companies, and a number of financial services organizations, Send Word Now is in the process of building its list of integrator and manufacturing partners.
Currently, the company has a white label version of the offering, and Send Word Now can Ã¢â‚¬Å“alert-enableÃ¢â‚¬Â software so that alerts generated are automatically dispersed. It already has partnership agreements with D3 Security Management Systems and Sonitrol.