Passenger Gets $7.5m Investment

US-based social community software provider Passenger has secured a $7.5m investment, which will be used to support new product development, marketing efforts and sales.

Founded in 2005, with offices in Los Angeles, Palo Alto and New York City, Passenger develops online communities to provide real-time customer insight. Its Software-as-a-Service platform combines social networking, collaboration, media, research and analytics features into a single interface.

Earlier this year, the company set up a Channel Partner Program to enable marketing and MR agencies to use its technology to create their own social media tools.

The latest round of finance has been led by Dr Bahram Nour-Omid - who becomes CEO of the firm - and existing investors Shelter Capital Partners, StarVest Partners and Steamboat Ventures.

Nour-Omid is a Partner at Shelter Capital Partners, and brings an extensive background in both product development and leadership within the technology industry to Passenger. He was the founding CTO and a director of CRM firm Scopus Technology, and founding Chairman and CEO of entertainment industry service provider StudioXchange.

According to Nour-Omid, the new funding will help to extend product offerings and scale the company to meet increasing demand for market research via private online communities, as well applying its technologies to other areas of business.

Following Nour-Omid's appointment, former CEO Steve Howe becomes Chairman of the company.

Web site: www.thinkpassenger.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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