Convoke Systems Raises $5.5 Million in Series B Funding, Led by Flybridge Capital Partners and QED Investors
Summary
SAN FRANCISCO--(BUSINESS WIRE)--Convoke Systems, an information management software company in the Debt Collection and Recoveries industry, announced that it has secured a $5.5 million Series B round of financing led by Flybridge Capital Partners and QED Investors. Across this network, Convoke Systems manages vital information providing documentation and evidence for millions of delinquent and charged-off accounts, working in partnership with major credit issuers. “The company is quickly becoming the standard for credit issuers and those that service and buy their debt.” The collections and recovery industry is a vital part of the overall US economy, returning over $50 billion each year to the financial system. With $560 million under management, the firm is focused on investing in consumer, energy, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. While the firm’s support is tailored to the specific needs of each portfolio company, it typically provides a combination of capital and capability, often working very closely with senior management to first identify and then monetize the information-based opportunity.
