Passenger, a Los Angeles, CA-based social network products company, has secured an additional $7.5m investment.
The round was led by Dr. Bahram Nour-Omid and existing investors Shelter Capital Partners, StarVest Partners and Steamboat Ventures.
The new capital will be used to support new product development, marketing efforts and sales as the company enhances its private online community platform and expands into new markets.
In conjunction with the funding, Passenger appointed Dr. Nour-Omid as CEO and Steve Howe as Chairman.
Dr. Nour-Omid is a partner at Shelter Capital Partners, and brings to the company his extensive experience in both product development and leadership within the technology industry.
He was the founding CTO and a director of Scopus Technology, Inc., and the (founding) chairman and CEO of StudioXchange, Inc.
Dr. Nour-Omid currently serves on the Boards of Roamware, Inc.; Isensix and Kryptiq.
Passenger’s Software-as-a-Service communities provide marketers and social brands with real-time customer insight combining social networking, collaboration, media, research and analytics features into a single intuitive interface.
Clients include JC Penney, Microsoft, Mercedes-Benz and Fox, channel and agency partners.
Founded in 2005, the company also operates offices in Palo Alto and New York City.
FinSMEs
05/10/2010