 01 January 2009 Lagan Goes Global: Announces Second Round Funding with support from the Viridian Growth Fund Monday, 30 November, 2007 Belfast-based Lagan today announced that last month it secured additional funding of several £million to pave the way for international market development. This second round funding has been led by pan-european venture capital fund DN Capital, with support from existing investors including Crescent Capital, Invest Northern Ireland and the Viridian Growth Fund. Des Speed, CEO of Lagan commented “We have achieved tremendous success in the UK with our Frontline for Government solution. This new round of funding will underpin the next phases of our business strategy, including expansion into North America and mainland Europe. Lagan delivers customer relationship management (CRM) solutions, principally to Government, through Frontline - a software solution that allows organisations to communicate effectively with their citizens or customers through telephone and face to face, via electronic channels, and in numerous languages. In the last three years, the drive for citizen centric government has accelerated and become a significant driving force in both central and local government. Lagan is at the forefront of companies working with the public sector to design, implement and maintain CRM systems, with over 50 such organisations having selected Frontline as their solution provider. With immediate effect, two new non-executive Directors are joining the Lagan Board – Steve Schlenker, Managing Partner and co-founder of DN Capital and Brian Baird, cofounder and Chief Executive of Meridio. John Lillywhite, Chairman of Lagan stated “I and the Board of Lagan are delighted with the achievement of this investment round, and the extensive experience that Steve Schlenker and Brian Baird bring to the Board for the next stages in our strategic development. Together they bring a depth of industry knowledge, and experience in business development and international market entry”. Steve Schlenker commented “We are very pleased to be joining Lagan as investors. One of our key objectives at DN Capital is to back companies which have the potential and ambition to become market leaders in their field. Lagan has already demonstrated this leadership in the local government and increasingly in the central government customer relationship management market. We look forward to sharing in Lagan’s continuing success and to assisting Lagan to address the extensive international opportunities with which it has been presented”. Invest Northern Ireland Chief Executive Leslie Morrison added: “This investment will enable Lagan to further secure its position in the global CRM and technology sectors. By entering the North American and European markets, Lagan will underline its position as a leading local company and demonstrate how a strategic approach to business can open up new market opportunities. Invest NI has helped to lever significant additional private sector investment - in line with our vision of stimulating the emergence of a vibrant venture capital market in Northern Ireland, and enabling, a further 38 high quality jobs to be created in Northern Ireland.” Send To A Friend » | ||
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