New York, New York - March 17, 2008 - Pivot Inc., a real-time enterprise collaboration network serving the capital markets, today announced it has secured $3 million in financing from MMV Financial, Inc. Pivot will use the funds to maintain its steady growth rate while continuing to develop core business operations, Pivot 360° and partner integration.
Pivot creates revenue-generation tools for participants in trading-related workflows. Pivot’s full suite of real-time collaboration applications tighten processes, expand collaboration opportunities and streamline information management. Pivot provides the capital markets with an advanced platform to facilitate expanded trading capabilities, reduced costs and improved investment performance.
”Pivot continues to grow its customer base and reinforce its reputation as the fastest growing institutional collaboration and communication network in the financial markets,” said Ron Patterson, executive vice president of MMV Financial. “Its seasoned management team and proven solution continue to stay ahead of the market by leveraging Web 2.0 capabilities to drive business and increase sales within capital markets. We forecast consistent and strong revenue growth in the future.”
Pivot 360° lets institutional professionals manage all information 360 degrees around a transaction by advancing beyond traditional instant messaging. Its IMTRADER module integrates instant messaging with back-end systems to drive efficiency, productivity and profitability. Its Broadcast Management module targets and manages large scale communications strategies with tools that ensure effective delivery of revenue generating ideas and liquidity.
About Pivot
Pivot is an inter-enterprise network that leverages Web 2.0 communication and collaboration capabilities to create revenue-generation tools for trading-related workflows within the capital markets arena. The Pivot network helps transform conversations into ideas and ideas into transactions by integrating information, relationships and transactions into a single pivot point, giving customers the best information to base decisions. Based in New York City, Pivot is backed by Eze Castle Integration and leading venture capital firms Softbank Capital, Draper Fisher Jurveston Gotham Ventures and Hudson Ventures. For more information, please visit http://www.pivotinc.com/.
About MMV Financial
MMV Financial is a Toronto-based specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, HSBC, NewStar Financial Inc., and Wells Fargo Company. For more information please visit www.mmvf.com.
Contact:
Courtney Hurst
Metis Communications
617-236-0500
courtney@metiscomm.com
Ron Patterson
MMV Financial Inc.
416-977-9718
rpatterson@mmvf.com