Broadvoice Announces Equity Investment from Crestline Investors
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.
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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.
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“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.”
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