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SAFEHARBOR.COM SECURES $25 MILLION; OVP and Barnard lead fundingSatsop, WA (September 13, 2000) - SafeHarbor.com, the leading provider of loyalty-building Web-focused customer relationship management support services, has completed a $25 million third round of financing including investments from OVP, Barnard & Co., Protégé Virtual Management, Wheatley Partners and Washington Mutual, Inc.According to Steve Chang, a partner with Barnard & Co., SafeHarbor.com was a compelling investment opportunity because the company has expanded its sales and operational focus to include large corporations that are launching Web initiatives. Chang said, “In addition to an existing healthy revenue flow, SafeHarbor.com is in active discussions with a number of large corporations that are planning to launch Web initiatives in the financial services, transportation and technology markets. Any one of these deals will result in millions of dollars of additional revenue for the company." Officials with SafeHarbor.com, the anchor tenant at the Satsop Development Park in Grays Harbor County, Washington, said the new investment will be used to continue the rapid expansion the company has undergone over the past two years. “Since we launched, SafeHarbor.com has grown from 2 to 200 employees,” according to Bo Wandell, president and co-founder. “Between now and the end of 2001, we plan to grow the company to over 400 employees and open customer support centers on the East Coast and in Europe to service our growing client base.” Later this month, SafeHarbor.com will move into a second 50,000 square foot building located at the Satsop Development Park in rural southwest Washington State. The three founders of SafeHarbor.com, Bill Miller, Brian Sterling and Bo Wandell, all grew up in Hoquiam, Washington, a small town located near Satsop. Bo Wandell said, “One of the original goals of SafeHarbor.com was to prove that technology companies can locate and thrive in rural Washington communities. The majority of the $25 million we raised will be dedicated to growing our staff in Satsop. Our $9 million annual payroll is already changing the economy of rural southwest Washington.” SafeHabor.com, which provides support services to companies like Aventail, ImageX.com and Triscend, recently announced the signing of a contract with the state of Washington to provide its agencies with 24-hour online and traditional customer support capabilities to better serve Washington State residents. Wandell attributed the company’s fund raising success to a solid business strategy, a mature and experienced management team, revenue growth and new customers. "Our investors believe in us because our management depth is real, our revenue and customer list are real and growing, our employees are really seasoned, and our goal near term profitability is real." Steve Chang of Barnard & Co. will be joining Chad Waite and Bill Miller, both partners with OVP, and Brian Sterling, Bo Wandell and Mic Dinsmore on SafeHarbor.com’s board. SafeHarbor.com also announced that Jay Wood, the founder and former CEO of Silknet Software, has resigned from SafeHarbor.com’s board of directors. Wandell said, “As the CEO of Silknet Software, Jay Wood provided the vision for Web-focused self-help that SafeHarbor.com has implemented.” About SafeHarbor.com SafeHarbor.com is the pioneer in delivering Web-based self-help customer support services to companies with e-business initiatives, from start-ups to Fortune 500 enterprises. Because the Web has changed the way people seek information and rendered traditional customer service inadequate, SafeHarbor.com’s graphical Web self-help KnowledgeBASES - supported by live support via e-mail, Advanced Chat, Web Case and the phone - increase customer satisfaction while reducing cost and time to market. These solutions are backed by expert Knowledge Engineers and a state-of-the-art technical infrastructure, enabling progressive companies to scale instantly and fuel company growth. SafeHarbor.com's corporate headquarters are located at the Satsop Development Park 20 miles southwest of Olympia, Washington in Grays Harbor County, and has sales offices in Seattle, San Francisco, New York, Chicago and London. For more information, please visit online at www.safeharbor.com, or call 800-480-5777. About Barnard & Co. Barnard & Co. manages more than $2 billion of global private equity investments. Investment activities focus on emerging information technology, Internet, and telecommunications companies. Representative investments include Arsenal Digital Solutions, BuildNet, Corvis, NetLibrary and Requisite Technology. About OVP OVP is the leading technology-focused venture capital firm in the Pacific Northwest, according to Pricewaterhouse Coopers. Committed capital under management totals over $300 million, sourced from sophisticated institutional investors such as endowments, foundations, pension funds and family trusts. The firm makes equity investments in early stage companies primarily in the western third of North America, with a leading market share position in the Pacific Northwest. Editorial Contact: Bo Wandell SafeHarbor.com 206-922-5006 bo@safeharbor.com top of page |
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