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OnForce Closes New Financing Led by North Atlantic Capital
Nov 03, 2011 (05:11 PM EDT)
Funding will accelerate growth, drive continued technology innovation and strengthen staffing and operations
BOSTON, Nov. 3, 2011 /PRNewswire/ -- OnForce, the leading source for on-site tech talent, completed a $5 million investment round, led by North Atlantic Capital (NAC), a venture capital firm that specializes in business-to-business technology providers. The funding was raised specifically to accelerate growth, fuel increased technology innovation and meet the needs of large, industry-leading corporations.
"This has been a year of incredible growth at OnForce," said Peter Cannone, CEO of OnForce. "We've expanded tremendously within and beyond the mid-market, adding many Fortune 500 companies to our customer roster that are on the cutting edge of IT service. This new round of financing will speed our enterprise-level implementations and rollouts, and enable us to invest in making our Field Services Cloud platform even more powerful."
"OnForce offers an extensive network of high quality tech talent, backed by an advanced technology platform," said David Coit, North Atlantic Capital's Managing Director. "We're committed to helping strong, established teams accelerate their growth and market penetration, and look forward to working with OnForce's seasoned leadership team as they continue to advance in the IT field services market."