ClearMomentum Raises Series A Funding

ClearMomentum, a Rochester, N.Y.-based provider of, has raised an undisclosed amount of Series A funding led by Trillium Group.

PRESS RELEASE
ClearMomentum, the leading provider of fully integrated financial analytics and reporting software-as-a-service (SaaS), today made two groundbreaking announcements. It has closed on a Series A Round funding and Kenneth Kaisen, a former Vice President & General Manager at Xerox and Avaya Inc., has joined the company as President & CEO.

The financing round was completed by Trillium Group, and led by General Partner Kevin Phelps with Trillium Executive Partner, James Stoffel. Phelps and Stoffel, along with Clear Momentum founder John Grabski will be members of the Board of Directors.

ClearMomentum offers a software solution that accelerates the financial performance of organizations by taking disparate financial and non-financial data and turning it into clear and actionable management knowledge. ClearFinancials®, the flagship SaaS product, enables customers to accelerate and enhance operational reporting, better understand the key drivers of a business and improve cash flows. The company has offerings in the Capital Management, Performance Management Advisors, Corporate, and Commercial Lending markets. The Series A funding will help ClearMomentum accelerate its growth trajectory, secure strategic partners, create higher-value services and build on the company’s recent successes.

“After reviewing many opportunities in the Software-as-a-Service market for a Company with great revenue and profit potential, we identified ClearMomentum as a company that meets our rigorous criteria” said Kevin Phelps, “ClearMomentum is an outstanding company with a compelling vision to transform traditional static financial data into dynamic management information to drive better decision making. With new capital and the addition of Ken Kaisen as CEO, Clear Momentum is now poised to take full advantage of this market opportunity.

Industry-veteran Kaisen brings more than twenty-five years of related leadership experience to ClearMomentum. He recently served as VP / GM of Consulting and Integration at Avaya, a global telecommunications and software company, where he was accountable for the development, P&L, and growth of Avaya’s $400 Million worldwide professional services and systems integration business. Prior to Avaya, Kaisen was at the forefront of Xerox’s transition to a services/solutions-led company, with a track record of successful product, services, marketing, and general management positions. Kaisen also has CIO experience at both Xerox and New England Business Services Inc.

For more information on ClearMomentum, please visit www.clearmomentum.com.

About Trillium Group
Founded in 1997, Trillium Group is a Rochester, N.Y.-based private equity firm managing early stage venture capital and growth equity funds. Trillium partners have extensive venture/private equity investment and management experience, having been chief executive officers, presidents and board members of a wide variety of startup companies, joint ventures, and Fortune 100 multinationals. Trillium is dedicated to achieving venture rates of return on invested capital at acceptable levels of risk. For more information, visit www.trillium-group.com.