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TeamSupport Receives Investment from Level Equity
TeamSupport’s unique focus on B2B organizations has allowed the company to differentiate against industry leading competitors such as Zendesk, Freshdesk and Salesforce Service Cloud, which has led the company to tremendous growth over the past several years.
Robert Johnson ,
CEO
There’s simply no way we could’ve gone through this process without Software Equity Group’s advice, guidance, and counsel. From the very first kick off meeting at their office, it was clear the SEG team knew how to attract the right financial partners. The team immersed themselves in all aspects of our business, proving invaluable during the transaction. We wouldn’t have been able to achieve the outcome we did without their support and valuable guidance."
- Robert Johnson, CEO, TeamSupport
SEG served as exclusive advisor to TeamSupport
Client Description
The company
TeamSupport is a leading provider of cloud-based CRM and customer support software to B2B organizations.
The software
TeamSupport’s best of breed offering allows B2B companies to communicate and collaborate more effectively, streamline relationships between all departments, and manage resources and clients towards a more accurate and faster customer support response.
Headquarters
Dallas, TX
Investor Description
The company
Level Equity is a private investment firm that invests in and acquires outstanding growth businesses, led by excellent founders and managers using technology to create change in their markets. The firm manages $940 million in long-term, committed investment funds in support of this strategy.
Headquarters
New York, NY
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PRESS RELEASE OVERVIEW
SEG Client, TeamSupport, Receives Investment from Level Equity
Software Equity Group (SEG) announces its client, TeamSupport, the industry’s top B2B (business to business) customer support software solution, has received a significant growth investment from Level Equity. The investment will enable the company to accelerate the expansion of its technology, customer success, sales, and marketing initiatives. SEG served as the exclusive advisor to TeamSupport.
The funding comes at a perfect time, as Gartner recently announced that Customer Relationship Management (CRM), which includes Sales, Marketing, Customer Support and Customer Success, was the largest software market in 2017. Gartner also predicts CRM will continue to be the fastest growing software market through 2018 and beyond.
“Customer support is a critical piece of business success, and our unique focus on the needs of B2B organizations has been extremely well received in the market,” said Robert C. Johnson, CEO and Co-Founder of TeamSupport. “We have seen tremendous growth over the past several years and as a result have had a great deal of interest in our business. We took a very strategic approach to our decision to bring on an investment partner that would share our vision and help accelerate our growth in this rapidly expanding market. Level’s investment enhances our commitment to providing the best customer success platform for B2B and we’re excited to continue building and expanding our distinctive solution.”
Founded in 2009 to address the unique pain points facing B2B technology support teams, TeamSupport grew organically for several years before raising a modest Series A investment round in 2014. As expected, this funding helped the company grow to become one of the industry’s leading customer support software suites, making a name for themselves among industry competitors like Zendesk, Freshdesk and Salesforce Service Cloud in the rapidly growing customer support software market.
“We’re excited to partner with Robert and the rest of the management team at TeamSupport to accelerate their growth,” said Sarah Sommer, Partner at Level Equity. “The customer support and success marketplaces are expanding rapidly, and TeamSupport is uniquely positioned to become a dominant player in the space.”
The company has realized many accomplishments over the years and introduced innovative features that are especially valued in B2B including a Visual Support suite, best-in-class Service Level Agreement (SLA) function, and most recently the addition of IBM Watson-powered Sentiment Analysis.