February 10, 2004
Austin Logistics Incorporated, a leading provider of collections and service center analytic software solutions, todayannounced that it has raised $12.5 million in a Series A equity financing. The Company's first round of institutional investment was led by Baird Venture Partners and included Svoboda, Collins L.L.C., Apex Venture Partners and North Hill Ventures. Merchant bank Portico Capital Securities advised Austin Logistics in the transaction.
"This is a strong validation of our business model and an endorsement of our growth plan for the future," said Daniel Duncan, President and Chief Executive Officer of Austin Logistics. "With this funding and the support of our new partners, we can more aggressively pursue the tremendous market opportunity before us."
Austin Logistics' growth to date and profitable performance has been a result of its targeted focus on measurably improving collections productivity for major financial services companies. By analyzing and leveraging data to predict consumer behavior, the Company's software products apply advanced predictive analytics to its clients' service center activities. The results are increased productivity and reduced costs for consumer collections, maximized value for inbound customer service interactions, and better managed consumer-related risk.
Many leading blue-chip financial institutions have partnered with Austin Logistics to optimize collections for their customer credit portfolios. The Company's suite of products for collections and telemarketing enables financial institutions to strategically manage their customer base, specifically helping to prioritize "who to call" (CallSelect™), "when to call" (CallTech™) and "where to call from" (OnQ™), resulting in more dollars collected, lower roll-rates, and reduced charge-offs. In addition to this core offering, the Company's recently released Valeo™ product helps inbound service centers make value-based decisions on wait times and service levels, as well as proactively identifying customers who should receive retention, cross-sell, and up-sell offers. Austin Logistics' newest product, Vincio™, enables companies to intelligently target offers and product recommendations.
"Whether customer contact is inbound or outbound, Austin Logistics' solutions help maximize the value of every interaction - a requirement that is becoming increasingly more critical as credit use expands and consumers become more difficult to proactively contact," said Bill Filip, Partner with Baird Venture Partners. "We view Austin Logistics as a unique opportunity to invest in the emerging leader in next generation analytic solutions to the financial community."
The financing will enable Austin Logistics to accelerate its strong growth by expanding its sales and customer support organizations serving the financial services industry, both domestically and internationally, as well as expanding its presence in other call-center intensive industries, such as telecom/wireless, retail and utilities. The growth capital will also support the Company's tradition of continually innovating practical, high-ROI solutions.
About Austin LogisticsIncorporated
Austin Logistics is trusted by many of the world's largest financial services companies to dramatically increase the value of customer interactions, to simplify operations, and to help achieve business-specific objectives in the areas of collections, risk management, and customer service. Austin Logistics' solutions are designed for quick, measurable payback. For more information, please visit www.austinlogistics.com.
About Baird Global Private Equity
With more than 40 professionals in the United States and Europe, Baird's global private equity business has raised and managed $1 billion in capital. Baird Venture Partners (BVP) makes venture capital investments in early- to late-stage high-growth companies in three industry sectors: Business Services, Technology and Life Sciences/Health Care. Baird Capital Partners (BCP) provides late-stage growth capital or change-of-control capital to U.S.-based, middle-market companies in the areas of Business Services, Industrial Products and Technology, Communications, Consumer and Life Sciences/Health Care. Granville Baird Capital Partners (GBCP) is a long-established private equity manager targeting mid-market growth companies principally in the UK and Germany with a focus on the Business Services, Health Care, Industrial Products & Services, and Technology sectors. The group's investments are supported by Baird's full range of financial advice, operating expertise and industry research, providing a unique full-service approach to the entire private equity investment process. For more information, please visit Baird's Private Equity website at www.bairdprivateequity.com .
About Svoboda, Collins L.L.C.
Founded in 1998, Svoboda, Collins L.L.C. is a Chicago-based private equity firm with $150 million of committed capital that invests in and helps build value-added distribution, business services, and consumer products businesses. Further information is available at www.svoco.com.
About Apex Venture Partners
Apex Venture Partners, established in 1987, has more than $500 million under management. The firm has invested in over 100 technology companies throughout the United States. Apex focuses on early stage technology investments in software, enterprise/network infrastructure, and telecommunications. Further information is available at www.apexvc.com.
About North Hill Ventures
North Hill is the venture capital affiliate of Capital One Financial Corporation, the multi-billion dollar financial services company. Founded in 1999 and based in Boston, North Hill Ventures is focused on investing in emerging financial services, information technology and direct marketing companies. In addition to Austin Logistics, the North Hill portfolio includes investments in Compete, Exchange Solutions, and OpenPages. Additional information can be found at the firm's website at www.northhillventures.com.
About Portico Capital Securities LLC
Portico Capital Securities LLC is a merchant bank that provides investment and advisory services exclusively to Information & Business Services companies. Portico works across the private equity spectrum, from venture capital to later stage buyouts. Additionally, Portico provides strategic M&A advisory services to public and private companies within its industry focus areas, including payments, data analytics, transaction processing, and security information services. For more information, visit www.porticocapital.com.