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Privia Closes on Investment to Expand(November 21, 2011)
Herndon, VA (PRWEB) November 21, 2011
Privia LLC today announced that it has raised additional capital to accelerate its planned growth strategies. This investment will enable the expansion of the features of the firms award-winning Privia solution; increase its product portfolio capabilities; and offer solutions beyond its core government contractor market. The investment is led by Open Prairie Ventures, Inc., which is joined by Chicago Technology Partners LLC and DL Investments.
In a very difficult economic environment the past three years, the Privia team has done a terrific job of doubling sales, turning profitable and maintaining positive cash flow, said Jim Schultz, Managing Partner of Open Prairie. These are the kind of results that get us excited about investing in the team and continuing to build upon their success. We take a long-term view with all of our investments and look forward to working with the team in the years to come to broaden market reach and become a real game-changer.
We are thrilled to have this group of investors provide us with capital to further our growth, said Joe Marino, President of Privia LLC. "These investments will allow us to increase our product management and engineering staff to further product enhancements and functionality. We also look to expand our partner channel network; focus on new markets such as architecture and engineering, construction, and healthcare; and identify potential strategic acquisitions to maintain the leadership position we have attained.
We are very excited to hear the news about the continued investment and growth in Privia LLC, says Bill Lytle, Senior Vice President, MicroTech. Our success depends on strategic vendors like Privia to provide innovative technologies that enable us to connect and collaborate with our partners and tie together critical data quickly. The Privia solution does this for us and a lot more.
The market potential for Privia is substantial as competition for strategic contracts heightens, said Brad Douglas, COO, Shipley Associates. We are pleased that this additional investment will fuel continued innovation and help expand into new markets. The current Privia proposal management solution supports several Shipley capture and proposal processesleveraging our best practices through improved technology and automation is good news for us as we help clients compete and win.
CIBER Federal is excited about this news, said Dr. Ron Smith, General Manager, CIBER Federal. As a Privia customer, we rely on Privia as a tool to assist with task order management on MACs, GWACs and proposals. Privia is a tool that provides us with the capability to manage our own resources as well as our teammates. We are confident in the management team at Privia and look forward to growing together."
As a long-term user of the Privia product to manage proposals for government contractors, we are excited about extending the products scope to cover the full business development lifecycle and serve as an enterprise repository to integrate capture management with proposal development, said Bob Lohfeld, CEO of Lohfeld Consulting Group. Additional features already in development for the next Privia release, such as enhanced document search capabilities, will solidly position this product as a preferred platform for government contractors.
We are pleased by this news, said Steve Maier, Managing Executive Director, Training & Development for Management Concepts. As a Privia customer, we rely on its solutions to maximize our business productivity. Its reassuring to know that as our business continues to gain momentum, Privia is poised to expand and grow with us."
About Privia LLC
Privia provides an array of products to help organizations streamline the entire bid, capture and proposal processfrom pipeline management and reporting to teammate collaboration and proposal development. With delivery in days and at a fraction of the cost, leading organizations such as CSC, CIBER Federal, Management Concepts, Merlin International, MicroTech, Scientific Research Corporation (SRC) and USIS are streamlining processes to save time and money in areas such as bids and proposals, past performance management, contract management, case management and claims processing. For further information, visit http://www.privia.com.
Read the full story at http://www.prweb.com/releases/2011/11/prweb8981839.htm.
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