WorldAPP Secures Mezzanine Financing to Fund Growth Plans and Extend Market Leadership in Cloud Data Solutions
26 Jun, 2014, 16:15 BST
BRAINTREE, Massachusetts, June 26, 2014 /PRNewswire/ -- WorldAPP, Inc., a market leader in enterprise data collection and process optimization software solutions, today announced that it has secured mezzanine financing from Bay Capital Investment Partners, a mezzanine debt fund based in Providence, RI.
"For many companies, the time it takes to do business is becoming the most glaring cost of doing business. The need to improve the speed and efficiency of critical operations tops the meeting agenda of enterprise boardrooms around the world. Advancements in mobile technology have only accelerated these conversations," said Cal Brown, Co-founder and CEO of WorldAPP. "In the past five years, the explosion in the mobile market and what those devices are capable of now is the foot on the gas pedal for many companies. Excel is slow, paper is slower and clipboards will soon go the way of the VHS. The digital age is here and the opportunity Bay Capital has afforded us ensures WorldAPP will remain the preferred vehicle for enterprises migrating to the cloud."
WorldAPP will use the new infusion of financing to advance its software platform, Form.com, deeper into the survey, BPM and field service markets by expanding product development, client services and marketing initiatives. This expansion will take place in the U.S., Europe, and other key markets.
Operating since 2002, WorldAPP has built a reputation of providing first-to-market technologies and solutions with an exemplary level of customer support that has captured the loyalty of companies such as Deloitte, Amazon, Sage, Groupon and many other captains of industry. "Our customers play a large part in architecting the future of the Form.com platform," says Alexander Zagvazdin, WorldAPP's Chief Technology Officer. "Working with the best and most agile organizations transcends a level of quality that shapes who we are, what we do and why we win. It is at the core of our mission statement – to be of service."
Madison Park Group, a technology-focused investment bank based in New York, acted as WorldAPP's financial advisor in this transaction.
About WorldAPP
WorldAPP is a global provider of Enterprise Data Collection and Business Process Optimization software solutions. Organizations rely on WorldAPP to transform the flow of critical information and operating data between people, departments and existing programs. By offering the industry's most advanced feature set, flexible core technology and a world-class professional services team, WorldAPP has become the most attractive option for large enterprises in need of a high-powered, cloud-based solution and a technology partner they can grow with. Located on the web at www.worldapp.com.
About Bay Capital Investment Partners
Bay Capital Investment Partners was formed in 2007 to specifically address the capital needs of U.S. companies at the smaller end of the lower middle market, investing initially through BCA Mezzanine Fund, L.P. and subsequently through BCA Mezzanine Fund II, L.P. Each fund is licensed as a Small Business Investment Company (SBIC) by the U.S. Small Business Administration. For more information about Bay Capital Investment Partners please visit www.baycapllc.com/.
About Madison Park Group
Madison Park Group is an investment banking firm focused on advising technology and business services companies on M&A transactions and fundraisings. Madison Park Group has closed over 100 transactions for fast growing companies in a range of sectors including enterprise application software, SaaS, security & infrastructure, new media, digital marketing, eCommerce and tech-enabled services. For more information, please visit www.madisonparkgrp.com.
Contact: Roland Stewart, +1-781-849-8118, roland.stewart@worldapp.com
SOURCE WorldAPP, Inc.