TOA Closes $17.2 Million Series D Led by Sutter Hill Ventures

TOA Closes $17.2 Million Series D Led by Sutter Hill Ventures

05/12/2011

Cleveland, OH--TOA Technologies, the only on-demand provider of enterprise class mobile workforce management software solutions, has closed a $17.2 million Series D funding led by premier Silicon Valley venture capital firm Sutter Hill Ventures. Andy Sheehan, Managing Director of Sutter Hill, will join the TOA board. Early Stage Partners co-led TOA's Series B early stage venture capital investment. 

"We are proud to join TOA's great team to help power TOA's continued growth and industry leadership," said Mr. Sheehan. "TOA is one of the most exciting Cloud-based companies operating today. TOA's enterprise SaaS innovation leadership is evidenced in its impressive growth, with name brand customers worldwide such as Cox Communications, Virgin Media, Bright House Networks, Cablevision and Suddenlink. TOA has shown an impressive ability to marry the potential of SaaS with the essential and advanced technology tools that enterprises must have to manage their mobile employees. We see huge potential in the continuing growth of the global mobile applications market and believe that TOA Technologies has the right product and the right team to realize that opportunity."

The new capital will be used to continue the Company's rapid worldwide growth, particularly in adding sales, marketing, and business development personnel. Other new investor,including Tim Draper, founder of Draper Fisher Jurvetson, and Fort Washington Capital Partners, were joined by previous TOA investors in completing the round.

TOA co-founder, Chairman, and CEO Yuval Brisker welcomed Sutter Hill to the Company. "TOA has experienced dramatic growth and continues to see huge potential in providing its enterprise SaaS solution to a global market. This new financing brings us even closer to becoming the uncontested leader in mobile workforce maangement software solutions," he said. "As one of the most successful and long-standing venture capital firms in Silicon Valley, Sutter Hill Ventures brings prestige, unparalled experience and longevity to the TOA brand. We feel both privileged ane excited to heave them join our partnership." Read more...

 

 

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Jonathan Murray serves on the board of TOA Technologies