SALT LAKE CITY, UT and BOSTON, MA, Nov. 16, 2023 (GLOBE NEWSWIRE) -- CallTower, a global leader in cloud-based communications, contact center, and collaboration solutions announced today a strategic investment from BV Investment Partners (BV). AB Private Credit Investors and Boundary Street Capital are providing additional financing. Q Advisors, a leading global TMT investment bank, acted as exclusive financial advisor to CallTower.
This transformative alliance signals an exciting phase of growth for CallTower. BV is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. The partnership will empower CallTower to expand its international reach, broaden its distribution channels, and continue to enhance its innovative solutions, solidifying its position as a global leader in the industry. CallTower’s current major investors and senior management are also investing alongside BV and will continue to provide leadership as CallTower grows. The investment is subject to customary closing conditions and the parties anticipate closing in Q4 2023.
About The Partnership
Founded in 2002 in San Francisco, California, CallTower experienced a significant shift in 2013, under the leadership of its current President and CEO, Bret England. The company moved its headquarters to South Jordan, Utah, and focused on providing best-of-breed communication solutions delivered by a proprietary single pane of glass technology, CallTower Connect. CallTower has experienced an annual compounded growth rate of 20% over the last 10 years and can provide communication solutions in over 75 countries.
“CallTower is thrilled to partner with BV,” expressed England. “BV has exceptional expertise in growing tech-centric business services. CallTower and BV are committed to substantially growing CallTower’s global leadership through organic growth and strategic acquisitions.”
Justin Garrison, Managing Director, BV noted, “Enterprises and their employees have made a lasting shift in how they communicate centered around modern collaboration platforms. CallTower stands to benefit from the long-term trends of cloud migration, growth in hybrid and distributed workforces, and migration towards best-of-breed platforms. Bret and the CallTower team have built an exceptional organization and we’re excited to partner with them to support and enable an ambitious growth strategy.”
Vik Raina, CEO and Managing Partner of BV, added, “Cloud communications is a $15+ billion market which is expected to grow double digits as enterprises continue to adopt collaboration platforms and switch away from legacy systems. As a solution-agnostic provider, CallTower is in a strong position as a value-add partner with large platforms as they continue to benefit from global adoption.”
About BV Investment Partners
The Firm was founded in 1983 with a simple premise, that deep knowledge of its industry sectors and a disciplined investment strategy focused on growing companies, will lead to differentiated returns. Through 11 funds, and four decades, the Firm has successfully executed that strategy with over $5.1 billion invested across 60 companies in the tech-enabled business services, software, and IT services industries. BV was ranked in Inc. magazine’s 2023 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.
About CallTower
Since its inception in 2002, CallTower has evolved into a global cloud-based, enterprise-class Unified Communications, Contact Center, and Collaboration solutions provider for growing organizations worldwide. CallTower provides, integrates, and supports industry-leading solutions, including Zoom and Zoom Phone, Operator Connect for Microsoft® Teams, Teams Direct Routing, GCC High Teams Direct Routing, Office 365, Cisco® Webex Calling / UCM, Cisco® CCPP, CT Cloud UCaaS, and several contact center options including Five9, Intermedia, and Webex Contact Center. For more information, visit www.calltower.com.
