GaleForce Solutions Receives Funding for Third Tranche of Financing

QUICK LINKS

Have a Question?

Ask the GaleForce Solutions team a quick question and we'll get right back to you.

GaleForce eNews

Keep up to date with GaleForce Solutions and CRM for Financial Services news. Click here to subscribe now.

PARTNERS

November 03, 2006

GaleForce Solutions Receives Funding for Third Tranche of Financing

GaleForce Solutions Inc. announced today that funding for the third of three tranches of second round equity financing has closed.

This second round of investment is the result of a unique collaboration between three of Canada’s top-tier investor groups—Yaletown Venture Partners, BC Advantage Fund and Discovery Capital.

GaleForce Solutions, founded in April 2003, has leveraged core Microsoft Dynamics™ CRM 3.0 customer relationship management (CRM) technology to create highly customized CRM solutions for Wealth Management, Capital Markets and Commercial and Retail Banking. The company is 100% focused on Financial Services, CRM, and Microsoft infrastructure.

“This final tranche allows us to enter 2007 with the ability to co-fund and execute awareness campaigns with our channel partners, and roll out our solution to financial services organizations across North America,” said GaleForce CEO John Fraissinet. “Our model is based on the ability to leverage the breadth and depth of our partners' CRM practices in this complex industry, and be their go-to partners for a product that is essentially ready to go out of the box.”

About Yaletown Venture Partners

Based in Vancouver, British Columbia, Yaletown Venture Partners is a venture capital firm that invests time, expertise, and money in seed and early-stage technology companies. Yaletown focuses on Western Canada's vibrant Information Technology and Energy Technology clusters. Yaletown’s investment managers bring a combined sixty years of early-stage company-building and financing experience to each portfolio company. For more information, visit www.yaletown.com.

About BC Advantage Fund

Advantage is a life sciences and technology fund that offers everyone in BC the opportunity to participate in returns from some of our Province's most promising young technology and life science companies. Investors receive a 30% refundable tax credit from the BC Government on investments of up to $200,000 per year. For more information, visit http://www.bcadvantage.xplorex.com/.

About Discovery Capital

Established in 1986, Discovery Capital is one of Canada's most experienced technology venture capital firms. Discovery Capital has enhanced value for over 250 early-stage technology companies by providing proven expertise in strategic planning, management development, innovative financing strategies, corporate governance, and positioning for liquidity. For more information, visit http://www.discoverycapital.com.

About GaleForce Solutions

GaleForce Solutions, a privately-held and venture-backed company, has leveraged core Microsoft Dynamics™ customer relationship management technology to create highly customized CRM solutions for Wealth Management, Capital Markets, and Commercial and Retail Banking. GaleForce CRM easily integrates into daily operating environments for seamless use with the full range of Microsoft Office programs and productivity tools. With GaleForce CRM, financial services organizations gain the unmatched advantage of a low risk, highly flexible, easy-to-use solution that quickly enhances corporate knowledge, sales force productivity, client service, share of wallet, and profitability. GaleForce Solutions is a Microsoft Gold Certified Partner. Headquartered in Vancouver, British Columbia, GaleForce has offices in Canada and the US, and can be found on the Internet at www.galeforcesolutions.com.

GaleForce Solutions is a registered trademark of GaleForce Solutions, Inc. in the U.S. and Canada. All other trademarks or registered trademarks referenced are the property of their respective owners.