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In the NewsLIVEOFFICE RECEIVES MINORITY INVESTMENT FROM SUMMIT PARTNERS
June 19, 2007
Rapidly-Growing Provider of Message Archiving, Compliance Management, and Security Solutions Positioned for Long-Term Success
TORRANCE and PALO ALTO, CA (June 19, 2007) — LiveOffice, a leading provider of managed messaging security, archiving, and compliance solutions, today announced that it has received a minority investment from Summit Partners, a private equity and venture capital firm with a capital base of nearly $9 billion.
Founded in 1998, LiveOffice’s archiving and message protection services ensure the integrity of emails and instant messages (IMs), simplify the discovery process, and help companies protect themselves against the risk and expense of lost or misplaced electronic messages. Federal and state regulations, as well as industry regulators like the National Association of Securities Dealers, require companies to protect, secure, and archive their electronic communications. LiveOffice’s services lower the risk associated with unmanaged communications and enable companies to respond efficiently and inexpensively to eDiscovery and regulatory inquiries. Additionally, LiveOffice provides disaster recovery and business continuity assurance for messaging systems, along with a repository for storing, searching, and retrieving company knowledge captured in electronic communications.
“LiveOffice offers businesses a total solution for the secure handling of email and instant messages with a full range of management options, including archiving, encryption, traffic management, and business continuity protection,” said Matt Smith, the company’s Co-Founder and President. “Our partnership with Summit Partners positions us to continue our rapid growth and take the company to the next level.”
LiveOffice processes, archives, and protects millions of messages each day for a premier roster of clients that includes Fortune 500 companies, as well as small and medium-sized businesses. The company’s managed service model means that clients do not have to purchase any hardware or software to deploy the system and do not have to utilize scarce IT resources to manage the system, resulting in significant cost savings and fast implementation. Compliance management, system administration, and reporting are managed through an easy-to-use, highly secure web-based interface. Through this system, LiveOffice customers have managed over two thousand regulatory audits in a seamless and efficient manner.
“Summit Partners works with entrepreneurs who have established leadership positions in their industry. LiveOffice’s robust technology and strong customer service have provided the foundation for market leadership in archiving, compliance management, and message protection. We are pleased to partner with LiveOffice and help its world-class management team continue to extend this leadership position,” said Greg Goldfarb, a Vice President with Summit Partners who will join LiveOffice’s Board of Directors, along with Summit’s Peter Chung, a Managing Partner.
Summit Partners seeks outstanding management teams that have self-financed their companies to profitability and market leadership in a broad range of growth industries. Summit is a leading investor in the software sector, with previous notable investments including Hyperion Software, McAfee, and RightNow Technologies. For more information, please visit www.summitpartners.com.
The business of Summit Partners in the UK is regulated by the Financial Services Authority. Summit Partners Limited is registered in England and Wales. The registered number is 4141197, and the registered office is located at 20–22 Bedford Row in London, WC1R 4JS, UK. In the US, Summit Partners operates as an SEC-registered investment advisor. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
TORRANCE and PALO ALTO, CA (June 19, 2007) — LiveOffice, a leading provider of managed messaging security, archiving, and compliance solutions, today announced that it has received a minority investment from Summit Partners, a private equity and venture capital firm with a capital base of nearly $9 billion.
Founded in 1998, LiveOffice’s archiving and message protection services ensure the integrity of emails and instant messages (IMs), simplify the discovery process, and help companies protect themselves against the risk and expense of lost or misplaced electronic messages. Federal and state regulations, as well as industry regulators like the National Association of Securities Dealers, require companies to protect, secure, and archive their electronic communications. LiveOffice’s services lower the risk associated with unmanaged communications and enable companies to respond efficiently and inexpensively to eDiscovery and regulatory inquiries. Additionally, LiveOffice provides disaster recovery and business continuity assurance for messaging systems, along with a repository for storing, searching, and retrieving company knowledge captured in electronic communications.
“LiveOffice offers businesses a total solution for the secure handling of email and instant messages with a full range of management options, including archiving, encryption, traffic management, and business continuity protection,” said Matt Smith, the company’s Co-Founder and President. “Our partnership with Summit Partners positions us to continue our rapid growth and take the company to the next level.”
LiveOffice processes, archives, and protects millions of messages each day for a premier roster of clients that includes Fortune 500 companies, as well as small and medium-sized businesses. The company’s managed service model means that clients do not have to purchase any hardware or software to deploy the system and do not have to utilize scarce IT resources to manage the system, resulting in significant cost savings and fast implementation. Compliance management, system administration, and reporting are managed through an easy-to-use, highly secure web-based interface. Through this system, LiveOffice customers have managed over two thousand regulatory audits in a seamless and efficient manner.
“Summit Partners works with entrepreneurs who have established leadership positions in their industry. LiveOffice’s robust technology and strong customer service have provided the foundation for market leadership in archiving, compliance management, and message protection. We are pleased to partner with LiveOffice and help its world-class management team continue to extend this leadership position,” said Greg Goldfarb, a Vice President with Summit Partners who will join LiveOffice’s Board of Directors, along with Summit’s Peter Chung, a Managing Partner.
About Summit Partners
Summit Partners is a private equity and venture capital firm with offices in Boston, Palo Alto, and London. Formed in 1984, the firm has raised nearly $9 billion in capital in its private equity, venture capital, and subordinated debt funds. Summit has provided growth equity, recapitalization, and management buyout financing to more than 290 companies, which have completed nearly 125 public offerings and in excess of 105 strategic mergers or sales.Summit Partners seeks outstanding management teams that have self-financed their companies to profitability and market leadership in a broad range of growth industries. Summit is a leading investor in the software sector, with previous notable investments including Hyperion Software, McAfee, and RightNow Technologies. For more information, please visit www.summitpartners.com.
The business of Summit Partners in the UK is regulated by the Financial Services Authority. Summit Partners Limited is registered in England and Wales. The registered number is 4141197, and the registered office is located at 20–22 Bedford Row in London, WC1R 4JS, UK. In the US, Summit Partners operates as an SEC-registered investment advisor. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
LiveOffice LLC is a leading provider of email archiving, instant message archiving, anti-spam, antivirus, compliance, and eDiscovery solutions for businesses.
The company’s Managed Messaging Services ensure the integrity of emails and instant messages (IMs), simplify the discovery process, and help companies protect
themselves against the risk and expense of lost or misplaced electronic messages. LiveOffice also helps organizations comply with statutory, regulatory,
legal and industry-specific mandates.
Founded in 1998, LiveOffice serves a premier roster of clients including Fortune 500 companies and processes and protects millions of messages each day. For more information, visit www.liveoffice.com.
Founded in 1998, LiveOffice serves a premier roster of clients including Fortune 500 companies and processes and protects millions of messages each day. For more information, visit www.liveoffice.com.