Broadvoice, an award-winning provider of hosted voice, unified communications (UC) and SIP trunking services for businesses, announced a minority investment from Crestline Investors Inc. (Crestline), an institutional alternative investment management firm.
The investment will provide additional resources to further fuel Broadvoice's rapid expansion in the fast-growing UCaaS and CCaaS market while supporting its continued delivery of industry-leading customer satisfaction to its nationwide customer base. Broadvoice's existing leadership team will continue to manage the organization and maintain a majority stake in the company.
"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."
About Broadvoice
Broadvoice?simplifies communications for small and medium businesses (SMBs) by combining powerful cloud PBX, UC and collaboration features with virtual call center in one award-winning Unified Communications as a Service (UCaaS) platform that delivers enterprise-class features at affordable rates. The platform is connected to Broadvoice's secure, redundant network and hosting infrastructure, enabling SMBs to connect with customers securely anytime, anywhere and with any device. Broadvoice is ranked in the Deloitte Technology Fast 500 and Inc. 500 Fastest-Growing Private Companies in America. For more information, please visit www.broadvoice.com.
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is an institutional alternative investment management firm. Crestline specializes in opportunistic and credit investments, including financing and restructuring solutions for mature private equity funds. In addition, the firm manages a multi-PM equity market-neutral hedge fund, and provides beta and hedging solutions for institutional clients. Headquartered in Fort Worth, Texas, the company maintains affiliate offices in London, New York City, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
