Jive Closes Venture Financing Round.
Jive has closed round of venture financing with Innoventures Capital Partners.
OREM, Utah – June 01, 2008 — Jive Communications (www.jive.com), an enterprise-quality telephone systems and services provider, today annouced it has closed a round of funding from InnoVentures Capital Partners (InnoVentures). This marks the first time InnoVentures has invested in Jive, and their first investment in the telecommunications space.
Jive provides customers throughout the U.S. with effective and affordable PBX (Private Branch Exchange) solutions, including a scalable and professional system for businesses of any size. With Jive’s easy-to-use online management system, clients can also view and manage their own phone system to turn on and off features such as creating a new extensions, voicemail boxes, dial plans, and more.
“The VoIP industry is exploding right now, with an incredible growth potential especially among small businesses,” said Brent Thomson, CEO and co-founder of Jive Communications. “Through this strategic investment from Innoventures, we are in good position to grow our customer base in the SMB market segment. Our customer service is excellent, our rates are low, our monthly statements are easy to understand, and we don’t nickel-and-dime anyone. Jive really does offer the best phone systems that a small business can get.”
About Innoventures Capital Partners
InnoVentures Capital Partners is the manager of the UTFC family of funds located in Salt Lake City, Utah, and invests in growth technology and service companies throughout the region by providing subordinated debt instruments. InnoVentures Capital Partners fills a unique niche in the Utah venture capital network by providing important capital to entrepreneurial companies. The capital investment is enhanced by our team that has invested together in early stage businesses for over a decade.