Agentek Closes $8 Million in Growth Financing

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Funding Enables Expansion of Sales and Marketing and Continued Product Innovation of Enterprise Mobile Computing Solutions

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Agentek, a leading provider of real-time, mobile field force software solutions, announced today it has closed an $8 million Series A round of investment, led by Edison Venture Fund, Lawrenceville, NJ. This investment will accelerate Agentek’s leadership in the mobile field automation marketplace through increased sales and marketing operations as well as expanded product development.

“The mobile field force market is set to explode and Agentek is positioned as the software development leader," says Joe Allegra, the Edison general partner who will join Agentek’s Board. “Executives look at their kids’ mobile devices and marvel at the much more powerful applications compared to those used by their own company’s field force. Agentek has what is needed: a powerful, comprehensive solution to quickly build robust enterprise-class mobile solutions.”

Agentek’s software solutions enable service-minded organizations to improve field force productivity and efficiency, reduce service related fuel, parts, and vehicle costs, and improve customer service and retention.

“The investment validates our market and solution vision and allows us to accelerate our momentum,” according to Agentek CEO Jeff Jarvis. “The promise of mobile solution business breakthroughs has been around for years, mostly unfulfilled except for costly, complex custom solutions. Now, with radically reduced mobile equipment and connection costs, the economics are there for mobile applications breakthroughs. This investment allows us to greatly expand the reach of Agentek’s product and service offerings.”

The Atlanta office of Focus Investment Banking initiated this transaction and advised on the funding.

About Agentek
Agentek is a leading provider of mobile field force software solutions that enable businesses to dramatically improve customer service and retention and reduce operating costs in real-time. From pre-packaged and configured applications to backend enterprise integration, Agentek delivers end-to-end mobile software solutions that address challenges in mobile software solutions. Find out how leading companies are leveraging Agentek's mobile technology to develop new service revenues, cultivate customer loyalty and gain competitive advantage. http://www.agentek.com.

About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources building successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as a sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases. Edison currently has $550 million under management and is actively making new investments. http://www.edisonventure.com

For additional information, contact:
Christopher Hale
Agentek, Inc.
678.393.1808
chrish @ agentek.com

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Christopher Hale
Agentek
678-393-1808
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