News Release
Market Force Information Secures $19.3 Million in Financing
$11.3 million of Series A equity and an $8 million
debt commitment to launch new information company
BOULDER, CO (February 28, 2006) — Market Force
Information, Inc., an emerging Customer Experience Information company,
announced today the close of its $19.3 million financing round.
Centennial Ventures led the $11.3 million Series A equity investment,
with participation from Boulder Ventures and Vista Ventures. Hercules
Technology Growth Capital provided an additional $8 million debt
commitment. Market Force will use the funding to accelerate its
growth strategy of acquiring mystery shopping companies and investing
in technology to further enhance the value and utility of the information
it provides to clients.
Combined with seed funding from its founders and Centennial Ventures
in May 2005, the total capital committed to date exceeds $20 million.
Market Force was formed with the mission of building a unique information
company that provides retailers with reliable and actionable information
about their customers’ store-level experiences.
“Hyper-competition in the retail sector has created an urgent
need for more robust, timely, and reliable store-level information,”
said Centennial’s Steve Halstedt, who is chairman of Market
Force’s Board of Directors. “I’m very excited
about Market Force’s planned approach to the problem in the
marketplace, and believe that the company’s focus on technology
investment will create an innovative and unique information solution.”
“We’re pleased to have strong investor backing,”
said Market Force CEO Karl Maier. “This financing provides
Market Force the capitol necessary to aggressively execute our growth
strategy.”
About Market Force:
Market Force Information, Inc. is an emerging provider of store-level,
customer experience information for retailers, restaurants, consumer
packaged goods companies and the financial and hospitality communities.
Market Force’s strategy is to acquire mystery shopping companies
and invest in technology to further enhance the value and utility
of the information it provides to clients. Founded in 2005, Market
Force is headquartered in Boulder, Colorado with operations in Atlanta,
Georgia. Investors include Centennial Ventures, Boulder Ventures
and Vista Ventures. For more information, visit www.marketforceinfo.com.
About Centennial Ventures
Centennial Ventures, a venture capital firm investing in network
companies and related enabling software and technology enterprises,
has invested in over 100 communications and related companies. Centennial
has over $1 billion under management and offices in Austin and Houston,
TX, and Denver, CO. For more information, visit www.centennial.com.
About Boulder Ventures:
Boulder Ventures, Ltd. invests in start-up, early-stage and emerging-growth
companies and focuses on companies in communications software and
services, network infrastructure and optics, and Internet software
and services. Corporate offices are located in Owings Mills, MD
and Boulder, CO. For more information, visit www.boulderventures.com.
About Vista Ventures:
Vista Ventures invests in early and development stage technology-based
companies in the Rocky Mountain region. Vista Ventures has offices
in Boulder and Fort Collins, CO. For more information, visit
www.vistavc.com.
About Hercules Technology Growth Capital:
Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), is a specialty
finance company providing debt and equity growth capital to technology-related
companies at all stages of development. The company’s headquarters
are located in Palo Alto, CA with offices in Boston, MA; Chicago,
IL; and Denver, CO. For more information, visit www.herculestech.com.
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