Mindshare Closes $20m Investment Deal

US-based customer feedback specialist Mindshare Technologies has closed a $20m investment deal, supporting its strategy of 'rapid growth through innovation and new product development'.

Last week Mindshare, which offers real-time survey and analysis tools, reported 33% revenue growth to $13.6m for the year 2010, and said it was on target for 40% growth in 2011.

The latest investment was led by Sorenson Capital, with The PrivateBank and Trust Company contributing through an additional credit facility. As part of the deal, Sorenson Capital's co-founder Ron Mika and MD Fraser Bullock will join the Mindshare Board of Directors.

Mindshare Chairman and President Richard Hanks (pictured) comments: 'After talking to a number of interested private equity firms, we chose Sorenson Capital because we are confident that they will be the ideal equity partner for Mindshare. The partnership will enable us to not only reinforce our rapid growth, but also to pursue new strategic business initiatives.'

Web site: www.mshare.net .

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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