11/27/2009

Remote tech support solutions provider SupportSpace raised $10 million

On-demand remote technical support solutions provider SupportSpace has raised $10 million in a new investment funding. The round was led by Emergence Capital Partners and also included previous investors BRM Group and Gemini Israel.

SupportSpace previously raised $14.25 million in a Series A round of funding from BRM and Gemini. The company will use the new funds to enhance its infrastructure, expand its team and acquire new partners.

SupportSpace provides online tech support services for computers and connected devices to consumers and small and medium-sized businesses. The company's offerings are delivered using a (Software as a Service) SaaS platform and a virtual expert network. Experts deliver services from the SupportSpace service Web site, as well as from service sites of companies offering services powered by the SupportSpace platform.

SupportSpace was founded in 2005 by Doron Elgressy, the current President of SupportSpace who manages the company Israeli branch at Netanya, and Yair Grindlinger, SupportSpace CEO.

Elgressy was the owner and CEO of Primary Hi-Tech Ventures, an early-stage investment boutique, and in 1997 he founded Security-7, an information security software company, which was acquired by Computer Associates (CA). Grindlinger was the CEO of Port Authority Technologies (Vidius) and previously served as the international sales & marketing manager of Security-7.

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