eShare Technologies Inc. Receives $6.5 Million in Financing, Bringing Total Amount to $13 Million
COMMACK, N.Y.--(BUSINESS WIRE)--March 9, 1999-- Leading Provider of Internet Software and Services Continues to Bring
Online Human Interaction to All
eShare Technologies Inc., the expert in human interaction on the Internet, today announced it has received $6.5 million in financing, including funding from three significant new investors: Pequot Private Equity Funds, Penny Lane Advisors, Inc. and Walden Capital Partners, L.P. The Company's two existing investors, Chase Capital and Flatiron Partners, also participated in the round of funding. In addition, Jerry Poch from Pequot and Bill Denslow from Penny Lane will join eShare's board of directors. This third round of funding doubles the investment in the Company, bringing total outside investment to $13 million.
eShare is the leading provider of internet software for online communities and online customer interaction. The company has achieved the position of undisputed leader in the chat market and is the leading contender for the same dominance in the fast-growing customer interaction space as well. Serving large portal sites such as Lycos, Geocities, Tripod, and Starmedia, and over 1500 other community development and educational sites, eShare helps attract and retain a loyal community of visitors. In addition, eShare is outpacing its competition in the new and exploding customer interaction component of the e-commerce market, helping customers like AT&T WorldNet, CDW, 1800Flowers, and America Online increase customer retention, improve customer satisfaction and overall serve their internet customers more effectively. The latest round of financing will allow eShare to further widen its lead in both market segments.
"eShare has been an exciting investment. The company dominates the chat market and is emerging as the market leader in customer relationship management." said Jerry Colona of Flatiron Partners. "Our continued financial support of this endeavor strongly signifies our belief in eShare and its technology. We will continue to support eShare's success and look forward to helping this organization's future growth."
This infusion of capital will enable eShare to accelerate the continued development and delivery of its cutting-edge online human interaction software products, eShare NetAgent(tm) and eShare Expressions(R). With this financing, eShare can continue its efforts in sales and marketing, further increasing the organization's market share while maintaining its position as a leader in the online human interaction marketplace.
"Our investment in eShare technologies is driven by our belief in the tremendous demand for software enabled human interaction on the web," said Gerald Poch of Pequot Private Equity. "The explosive growth of e-commerce sites and the need for customer service management software that integrates the Internet with existing customer service systems are two key driver's for eShare's growth. We look forward to working with eShare as it accelerates its growth and becomes a major internet software provider."
"We are excited that eShare continues to garner interest from leading investors. This funding reinforces eShare's belief that online human interaction is a critical component of today's ebusiness environment," said Jim Tito, founder, chairman and CEO of eShare Technologies. "With this financing eShare is sufficiently capitalized to deliver on its mission of offering the best in Internet-based human interaction solutions and business value to every Web site."
About eShare Technologies
eShare Technologies, Inc. (www.eshare.com) delivers powerful enterprise-class interaction software and services that are crucial for eBusiness. These innovative technologies include web-based customer service and support, customer self-service, live conferencing and events, distance learning, Community chat, threaded discussion forums and custom integration tools. Current eShare Technologies clients include AOL, AT&T WorldNet Service, Computer Associates, GeoCities, Lycos, networkMCI, UUNet, the University of Florida, Pfizer, Bertelsmann, Columbia University, Hewlett Packard, Xerox and 1-800 FLOWERS.
CONTACT:
FitzGerald Communications, Inc.
Jennifer Falcone, 617/494-9500 ext. 206
jfalcone@fitzcomm.com
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