Venture • Information Technology

Updata Partners, NewSpring Capital and Revolution Invest In Interactions

On January 1, 2005, growth capital firm Updata Partners, private equity firm NewSpring Capital and growth capital firm Revolution invested in information technology company Interactions

Investment Context
  • This is Updata Partners’ 2nd, NewSpring Capital’s 2nd and Revolution’s 1st transaction in the Information Technology sector.
  • This is Updata Partners’ 12th, NewSpring Capital’s 10th and Revolution’s 1st transaction in the United States.
  • This is Updata Partners’ 2nd, NewSpring Capital’s 1st and Revolution’s 1st transaction in Massachusetts.
Investment Fate
  • Interactions was sold to a publicly-traded strategic buyer in 2025.

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Investment Summary

Date January 1, 2005
Target Interactions
Sector Information Technology
Investor(s) Updata Partners
NewSpring Capital
Revolution
Deal Type Venture

Target Company

Interactions

Franklin, Massachusetts, United States
Interactions provides a revolutionary offering for the customer service market that enables companies to dramatically improve the customer experience and substantially lower costs. Solving the problems inherent to speech recognition and outsourcing, Interactions' Intent Recognition(tm) is a generation leaping approach that enables significantly higher automation rates that address a much broader and more complex range of customer interactions. Interactions was founded in 2004 and is based in Franklin, Massachusetts.
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Investors Overview 3

Investor

Updata Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Updata Partners is the investment affiliate of Updata Advisors, an East Coast US based investment bank. Updata Partners looks to invest in growth oriented information technology businesses from early-stage to buyout, with revenues up to $50 million. Updata Partners typically invests between $15 and $150 million as a lead or co-lead investor. Within information technology, Updata has specific interest in; infrastructure software, physical and digital security, storage software, educational software, internet and interactive technology, media and wireless infrastructure and services, financial technology software, retail technology, business intelligence, subscription-based and on-demand information services, and business services. Updata Partners was formed in 1998 and is based in Washington DC.


Deal Context for Investor #
Overall 12 of 68
Sector: Information Technology 2 of 13
Type: Venture 7 of 43
State: Massachusetts 2 of 5
Country: United States 12 of 58
Year: 2005 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-07-21 Acclaris

Tampa, Florida, United States

Acclaris provides the services and technology that health plans, benefit consultants and financial institutions rely on to deliver health care and reimbursement account.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-10 Secure Software

McLean,, Virginia, United States

Secure Software provides application-security products and process technology that help organizations cost-effectively eliminate security flaws at the source - insecure software code - in legacy, acquired, and new-start applications

Buy -
Investor

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


Deal Context for Investor #
Overall 10 of 201
Sector: Information Technology 2 of 25
Type: Venture 4 of 24
State: Massachusetts 1 of 17
Country: United States 10 of 197
Year: 2005 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-12-29 Continuing Care Rx

Harrisburg, Pennsylvania, United States

Continuing Care Rx, Inc. is a privately owned institutional pharmacy provider.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-07 Network Communications

Norcross, Georgia, United States

Network Communications, Inc. publishes information for the real estate market in North America.

Sell -
DESCRIPTION

Revolution Growth is the growth capital investment arm of Revolution, an investment firm that also pursues seed and venture opportunities. Revolution Growth looks to invest $25 to $50 million in US-based companies looking for a partner to help them scale and expand. Revolution Growth is based in Washington DC.


Deal Context for Investor #
Overall 1 of 19
Sector: Information Technology 1 of 2
Type: Venture 1 of 10
State: Massachusetts 1 of 1
Country: United States 1 of 19
Year: 2005 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-18 FedBid

Vienna, Virginia, United States

FedBid is a provider of an online reverse auction services, optimizing how businesses, governments and educational institutions buy the goods and services they need. FedBid was founded in 1999 and is based in Vienna, Virginia.

Buy -