Monday, January 14, 2013
Charlotte-based Frontier Capital Closes New $10 Million Investment
CED Member Frontier Capital closed an investment in ConnectSolutions, Inc. on December 27, 2012.
Frontier’s $10 million minority equity investment provided growth capital to support the company’s continued expansion and liquidity for shareholders.
ConnectSolutions is based in San Francisco, California and Columbus, Ohio and is a private-cloud service provider of Unified-Communications-as-a-Service (UCaaS) solutions for large enterprise and government organizations.
The company will continue to be led by co-founders Michael Fitzpatrick, Chief Executive Officer, and Chris Tennant, Chief Technology Officer.
“Frontier is excited to partner with a team with such deep domain expertise,” said Joel Lanik, partner at Frontier Capital, in a statement. “ConnectSolutions is well-positioned to become a leading managed services provider for many of the top products in the UCaaS and web conferencing markets."