Everbridge (Formerly 3n Global) Closes Out $9 Million Series A Financing; Reports Record Revenue in Q1 2009
Funding from top-tier firm ABS Ventures will provide capital to continue expansion
LOS ANGELES, Calif. – April 29, 2009 – Everbridge (formerly 3n Global), the world’s recognized leader in incident notification systems, has completed the second tranche of a $9 million Series A financing with ABS Ventures. These funds will be used to pursue new market opportunities, further enhance service offerings, and continue business growth.
The company more than doubled revenue in 2008 and saw continued acceleration in the first quarter of 2009, delivering its 17th consecutive quarter of revenue growth.
“Due to our strong business performance, the company was able to complete a significant capital raise during a period when venture capital investing activity is at a 12 year low,” said Cinta Putra, Chief Executive Officer for Everbridge. “Our unique ability to deliver comprehensive notification solutions for emergencies, operations and daily use allows us to successfully address the full spectrum of organizations’ communication needs.”
“We invest in market-leading companies that exhibit strong execution, loyal customers, and rapid expansion, and our investment in Everbridge fits our criteria perfectly,” said Jim Sanger, General Partner for ABS Ventures. “Everbridge is the market leader and is uniquely positioned to capitalize on the groundswell in demand for powerful, but easy-to-use notification solutions. The company has a proven track record of success in providing solutions that deliver concrete business value and tangible return on investment to organizations across a diverse range of vertical markets.”
About ABS Ventures
ABS Ventures, founded in 1982, is a Boston-based venture firm focused on software, communications, and healthcare investment opportunities. ABS Ventures employs both primary and secondary direct strategies for mid-stage technology company investing. The firm helps talented management teams build industry leading companies by providing financial, strategic, technical and operational support. ABS Ventures manages more than $320 million in assets.
About Everbridge (formerly 3n Global)
Everbridge, the world’s recognized leader in incident notification systems, merges technology with industry expertise to help millions of people communicate in a crisis, manage operational incidents and connect on a daily basis. The company’s notification platform and incident lifecycle communications model makes communicating to many as simple and effective as communicating to one. Organizations in more than 100 countries—including Salesforce.com, AirTran Airways, the American Red Cross, and Virginia Tech—rely on Everbridge for their emergency notification and day-to-day communication needs. For more information about Everbridge, visit www.everbridge.com.