Austin, TX (PRWEB) February 9, 2011
Boundless Network (http://www.boundlessnetwork.com) announced today it has raised an additional $4 million in financing. The funds will enable the branded merchandise distributor to support its rapid growth and expand its technology platform.
The financing is from existing investment partners Austin Ventures and Silverton Partners. Boundless Network has now raised a total of $17 million in funding to date.
“We are excited about the additional investment from Austin Ventures and Silverton Partners,” said Jason Black, Boundless Network founder and CEO. “This new funding will allow us to continue to expand our technology platform and better enable sales professionals within the promotional products industry to grow their business and help companies save money on branded merchandise.”
Boundless Network was recently ranked No. 3 out of an estimated 20,000 branded merchandise companies on ASI’s 2010 list of fastest-growing distributors. The company was also one of the youngest distributors to be named to ASI’s Distributor Top 40 list, where it outpaced the average annual growth of the other ranked distributors by more than 50 percent.
“We believe that Boundless Network’s technology platform represents a compelling value proposition as innovators in the promotional products industry,” said Thomas Ball, partner at Austin Ventures. “This investment reflects our continued commitment and confidence in the Boundless business model.”
In August, Inc. magazine recognized Boundless Network on its Inc. 5000 list; Boundless Network was the seventh fastest-growing company in the “Business Products & Services” category.
About Boundless Network
Venture-backed Boundless Network is transforming the $20 billion promotional products industry through a highly trained, professional sales organization and proprietary technology that empowers companies to proactively manage their promotional spend. The company’s patent-pending technology platform connects buyers across organizations to create efficiencies of scale and reduce the cost of branded merchandise by as much as 40 percent. Headquartered in Austin, Texas, Boundless Network is one of the fastest-growing companies in the promotional products industry. Visit boundlessnetwork.com/join for more information.
About Austin Ventures
Austin Ventures (AV) has worked with talented entrepreneurs to build valuable companies for nearly 25 years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, media and information services, software and Internet, and Texas special situations, AV invests at all stages of company development, from $100,000 in “planned experiments” in early stage ideas to $100+ million investments in expansion rounds, minority recapitalizations, and buyouts of lower middle market growth companies. AV’s strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit austinventures.com for more information.
About Silverton Partners
Silverton Partners is an early stage venture capital firm based in Austin, Texas. Silverton collaborates with exceptional entrepreneurs who are committed to attacking growth markets with cutting-edge products or services. The principals of Silverton Partners have over two decades of venture experience in IT infrastructure and management software, having been the start-up investors in Tivoli Systems (IPO/acquired by IBM), Motive Communications (IPO/acquired by Alcatel-Lucent), Waveset (acquired by Sun Microsystems) and SailPoint (privately held). Visit silvertonpartners.com for more information.