Send Word Now completes $14 million financing round
As more attention is paid to alerting people of imminent or on-going disasters, investors pay more attention to companies producing effective, reliable alert systems; Send Word Now benefits
With growing awareness of the debilitating damage natural disasters and acts of terrorism — but also deranged gunmen on school campuses — can cause, there is a growing interest in effective alert systems which would quickly and reliably alert people to an imminent disaster, thus allowing them more time to take the necessary precautions. This interest by companies and organizations is has led to an interest by investors in companies which develop and market alert systems. In evidence: New York-based Send Word Now, a Software as a Service (SAS) provider in emergency notification, has completed a Series D financing which will provide the company with $14 million. The funds will be used to support the company’s plans for continued growth. The current round of funding was led by Palisade Concentrated Equity Partnership II, L.P., a $140 million private equity fund managed by Palisade Capital Management, L.L.C., with continued support from existing investors Southpaw Asset Management LP and Ascend Venture Group, LLC.
“We invested in Send Word Now because of the company’s reputation for excellence in On Demand Alerting and Response Services, and because we believe Send Word Now has a tremendous opportunity to expand its footprint and increase its revenue,” said Jeffrey Serkes, COO of Palisade Capital Management. “Send Word Now has a client list with many Fortune 500 companies and is poised for rapid growth. We believe that the capital that Palisade has invested in Send Word Now will assist the company in quickly achieving its goals.”
Michael Axon of Southpaw Asset Management LP echoed this sentiment, saying that “Send Word Now has developed a state-of-the-art messaging platform that is capable of transmitting hundreds of thousands of voice and text messages in minutes, and the company works with a great roster of marquis clients…. We were pleased to invest additional capital in Send Word Now and are confident in the company’s continued success.”
Tony Schmitz, CEO of Send Word Now said, “This financing will fuel the growth of Send Word Now as we invest in software development, infrastructure, sales and marketing…. We are extremely pleased to have attracted an investor of this caliber, and we look forward to working closely with Palisade and our current investors as we continue to grow.”
Send Word Now is one of the leading providers of on-demand alerting and response services for both emergency and routine communication. Among the clients for its Web-based services the company counts government agencies, universities, non-profit organizations, and businesses, including many of the Fortune 500. The company says its platform is able to send messages anywhere, anytime, regardless of location, device, or connection. The messaging platform is capable of transmitting hundreds of thousands of voice and text messages in minutes, receiving responses, and monitoring and reporting the results.
