Monday, July 26, 2010

Convoke Systems Collects $5.5M

San Francisco-based Convoke Systems, a developer of software used for debt collection and recovery, said today that it has raised $5.5M in a Series B funding round. The round was led by Flybridge Capital partners and QED Investors. According to Convoke, the funding will go towards new product development, sales and marketing, and market expansion. Convoke develops software-as-a-service for managing and collecting consumer debt, particularly as that debt is sold to collection agencies and downstream debt buyers. As part of the investment, Jeff Bussgang and Matthew Witheiler from Flybridge Capital, and QED's Frank Rotman all join the board of directors of Convoke. More information »