O4 Corporation raises $15 Million in Series A funding

By SiliconIndia   |   Thursday, 28 May 2009, 11:02 Hrs
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Atlanta: O4 Corporation, global provider of mobile sales force automation solutions for retail execution and service solutions, has raised $ 15 million in series A financing transaction, which was led by ABS Capital Partners.

O4 Corporation provides solutions to the customer product companies who have mobile representatives performing field sales, merchandising, promotion, and delivery activities to around 60 companies in 20 countries including the players like Proctor and Gamble.

"It's a very discerning market just now; investors are looking for sector-leading companies with proven products that deliver strong ROI to customers. They want to see a base of established users, traction in the market, and an obvious, high-growth trajectory," said Desmond Miller, CEO of O4 Corporation.

Laura Witt, General Partner at ABS Capital said, "We have a very high bar for potential investments. We only want to back those software providers, like O4, that give their customers meaningful and immediate ROI."

As per the transaction, Laura Witt and Bobby Goswami, General Partners at ABS Capital, will join O4 Corporation's board of directors.

The funds raised will be used for accelerating its development programs and increasing the global market reach. The company is also planning to increase its sales offices other than the existing ones in North America and Europe.

O4 has been recruiting at an average of 2 employees per week, and plans to double its headcount from 100 to 200 in the next twelve months.

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