Collections Marketing Center, Inc., a provider of comprehensive synchronized collections solutions, today announced the closing of a significant investment round led by Osage Venture Partners. Existing investors participating in this follow-on round included Milestone Venture Partners and Delaware Economic Development Authority.
“CMC is positioned to be a leader in the collections solutions space and now has the product, the team, and the financial resources to accelerate growth. We have been impressed by CMC’s ability to expand its U.S. presence with major financial institutions while launching and accelerating European operations,” said Osage Managing Partner Nate Lentz. “The fact that the company has achieved rapid growth while significantly enhancing the feature set of their solution in a capital-efficient manner is highly unusual, and causes us to be very excited about the company’s future prospects.”
CMC is well on target to post another year of impressive growth in 2011 after surpassing the threshold of $100 million in customer dollars collected in 2010. The company’s pioneering approach to automating collections operations has allowed it to provide solutions that complement clients’ existing systems of record in some cases, and in others serve as the collections agent desktop system. “The flexibility afforded by the managed service delivery model employed by CMC has given us confidence in the company’s ability to adjust quickly to changes in market dynamics and deliver out-sized return on investment results to its clients,” said general partner Morgan Rodd of Milestone Venture Partners.
“Our FlexCollect® platform helps creditors deploy comprehensive collections strategies, integrating their agent-based and self-service-based operations into one synchronized and tightly-managed strategy,” said Vytas Kisielius, Chief Executive Officer of CMC. “Delivering these services ‘in the cloud’ gives us a competitive advantage over premise software-based solutions that cost more up-front and take longer to deliver operational benefits.”
The company has earmarked the investment proceeds to continue its international expansion, bolster sales and marketing growth, and continue to deliver innovative approaches in the emerging use self-service contact channels.
Collections Marketing Center, Inc. (CMC) offers a pioneering adaptive collections service that enables lenders to deploy completely synchronized collections offers, contacts, and treatments across credit card, real estate, student, and installment loan products. The company’s FlexCollect® managed services solution is helping a rapidly growing number of top lenders collect more and spend less by increasing the efficiency and effectiveness of their charged off, delinquent, and pre-delinquent portfolio operations.