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Parlano secures $4.5m in series B funding

07 October 2004  |  2527 views  |  0 cash - dollars - lots of

Parlano, a Chicago-based provider of instant messaging technology, has raised $4.5 million in a series B funding round led by new investor Longworth Venture Partners.

Current investor Oak Investment Partners also participated in the round.

As part of the deal, Peter Roberts and Bill Sheehan of Longworth will join Parlano's board of directors.

Parlano says it will use the funds to invest in expanded sales, marketing and product development operations to increase its vertical market penetration in the financial services sector, and to take expand into other industries including government, pharmaceuticals, high-tech and manufacturing.

Nick Fera, CEO, Parlano, says: "This investment will allow us to aggressively expand our distribution, marketing and channel efforts."

The vendor's enterprise instant messaging platform MindAlign is used by UBS, ANZ Bank and ABN Amro, among others.

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