Activate Leads $80 Million Series D Growth Equity Round into Stem, Inc.

Activate Capital is pleased to announce our recent investment into Stem, Inc. Headquartered in Millbrae, California, Stem is the global leader in artificial intelligence (AI)-powered energy storage. The Company’s mission is to build and operate the largest digitally connected energy network to help its customers optimize the value of their energy assets and facilitate participation in energy markets, yielding economic and societal benefits while decarbonizing the grid.

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Legislative Updates for the Medtech Community

Congressional Outlook: The latest Continuing Resolution funding the government is set to expire at the end of the week. The House is expected to take up a new CR early in the week, likely funding the government until March 22. As of now, the expectation is that the Senate will pass the House CR once it is received, although negotiations around budget caps, immigration, tax extenders and other policies continue.  If a deal on caps and other items comes together, the likely scenario for passage of such a deal would be for the Senate to generate the legislation and send it to the House. Even in the case that a broader deal on caps and other items is reached, Congress would still have to pass a separate omnibus spending bill using the new caps numbers to fund the government for the remainder of the fiscal year, and any such omni would be several weeks away. We will keep you posted on any developments.

Device Tax: AdvaMed’s activities this week have focused on limited “thank you” activities for our congressional champions and leadership for the recent two year suspension. We are running a series of digital ads in select states and districts through at least February 8. These ads are running in California, Illinois, Indiana, Kentucky, Minnesota, New York, Pennsylvania, Texas, Utah, Washington, and Wisconsin. Please refer to Riley’s note from yesterday for further details on the ads and related activities. AdvaMed also continues to explore opportunities for further action on the tax this year, including in connection with tax extenders legislation or the possibility of moving stand-alone legislation. We are also regrouping with our association partners to discuss next steps and explore broadening our base of champions. Another element of our advocacy for this year is framing how we discuss the value of the suspension as an important step, but not equivalent to long-term relief. We’ve spoken with several of you already about your company’s budget cycle, how you will plan for the device tax in the future, and the financial impact of short- versus long-term relief. Please share any examples that you can provide of projects, budgeting, or investments that you are able or unable to pursue given the short-term nature of the device tax relief with Angie Comte ([email protected]). We are happy to collect these examples on an ongoing basis as decisions are made. If you have any questions, please contact Riley at [email protected].

Diagnostics Regulatory Reform: This week, AdvaMed met with staff for Senators Hatch and Bennet staff to discuss their progress on a diagnostics regulatory reform proposal. As with the House, the Senate offices have not yet advanced any proposal as they await FDA comments on the draft proposal from Reps. Buschon and DeGette. Senate staff indicated that this is a priority issue for both offices, and that while they are in the very early stages of meeting with stakeholders, they believe they can advance legislation this year. AdvaMed will stay in close contact with staff as this process evolves. To that end, we will discuss this feedback and other priority items on February 13th during a Dx Washington Representatives strategy meeting. If you have any questions, please contact Duane at [email protected].

Breakthrough Pathway: We continue to anticipate near-term introduction of legislation in the House reflecting the Breakthrough Pathway payment proposal by Reps. Suzan DelBene (D-WA), Jackie Walorski (R-IN), Tony Cardenas (D-CA), Gus Bilirakis (R-FL) and Terri Sewell (D-AL).

VA Procurement: Riley held a call of our working group to review current work on legislation to create a new clinical program office for device procurement at the VA, and a Hill letter on continued industry issues with purchase order backlogs. We have finalized both a draft letter on the backlog issue and a concept paper on the program office, and AdvaMed will coordinate with member companies on outreach to our Hill leaders on this issue, starting with Reps. Peters (D-CA) and Banks (R-IN).

Third Party Servicing: The Hill letter to FDA regarding the pending report on third party servicing of medical technologies has been finalized, led by Reps. Costello (R-PA) and Peters (D-CA), with a total of 18 signatories (9 Republicans and 9 Democrats). Please see attached. In addition, AdvaMed will host a briefing for our patient group alliance partners on the topic on Tuesday.

Opioids: The Senate Finance Committee is requesting input from health care industry groups on potential policy changes to Medicare and Medicaid as part of efforts to address the opioid crisis. In their letter, bipartisan committee leadership asks for comments on whether program incentives can be used to promote pain management that minimizes the risk of becoming addicted to opioids. They also ask for recommendations that could expand access to treatment and prevention. AdvaMed’s payment and regulatory work groups continue to try to generate legislative proposals relevant to this issue, but so far we have not seen a robust response. If you have any concepts to share, please follow up with Elizabeth at [email protected]. Also, we have begun planning for a March Hill showcase to demonstrate technologies that are relevant to the opioids crisis. We will follow up with additional details.

Right to Try: In his State of the Union address, the President called for congressional action on right to try legislation. The Senate moved related legislation last year, and included a provision exempting medical devices, as requested by AdvaMed. The House Energy & Commerce Committee is working behind the scenes to prepare their own proposal, which we may see in the coming weeks. We will pursue a similar exemption in the House, and are also in touch with FDA to share our concerns.

SMTA Fly In: The 2018 State MedTech Alliance Fly-In will take place on February 27-28. We expect attendees from state associations from across the country, and will host a welcome reception the evening of February 27.  We will be reaching out directly to several of you to determine your interest in participating alongside your state associations in these visits.

Union League’s New Angel Investing Club Closes Its First Year with Over A Million Dollars Invested

(Philadelphia, PA)  RoseAnn B. Rosenthal, chair of the Broad Street Angels, the angel investing affinity club at the Union League of Philadelphia, gave her annual report regarding the club’s first year of activity at its year-end meeting and holiday party.  According to Ms. Rosenthal, “Forward-thinking planning by our founding Executive Committee in 2016, enabled The Broad Street Angels to hit the ground running in 2017.  We quickly grew in membership from our original 10 founders to over 80 very active members.”  In order to qualify to become a member of the Broad Street Angels, one must also be a member of the Union League.

Said Rosenthal, “Deal opportunities also presented themselves quickly as word spread within the angel investment community in the mid-Atlantic region. During the Broad Street Angels’ first year, over 300 start-up companies applied through our Website to be considered for an invitation to make a presentation at our monthly meetings.”  Once an application has been received from a start-up, the deal review team considers the company and makes its recommendations.  The club’s format invites only 3 companies to present to its members each month.  In 2017, over 30 companies were invited to make presentations to the Broad Street Angels.  “After the presentations, interested members voluntarily decided to form deal teams and take a closer look at about ten to fifteen of those presenting companies, undertaking a deal due diligence process,” she said.

According to Rosenthal, “Ultimately by year end, Broad Street Angels invested $1.01 million in five companies.  Clearly, there is strong interest in seeing and seeding emerging ventures among the Union League membership.  We’re thrilled with this strong start and look forward to a robust year two.”

Companies in which investments were made in 2017 include:

(in alphabetical order)

– FischerBlock

– Huntress

– Indigo Biosciences

– Neuro Flow

– ZSX

In addition to investing and deal review, the club also provides an angel investing educational initiative for its members and for members of the Union League.  In 2017, it produced three educational events including “Angel Investing 101”, “Working with GUST, the angel investor’s online companion” and “Intro to Leading a Deal Team”.

 

ABOUT BROAD STREET ANGELS

Broad Street Angels is an affinity club (a focused interest club within the club) at The Union League of Philadelphia.  It consists of Union League members who will actively invest in qualified, early-stage enterprises in Greater Philadelphia as a means of growing the region’s economy, retaining and attracting talent and fostering innovations that strengthen our civic infrastructure.  Chair RoseAnn B. Rosenthal, is also President & CEO of BenFranklin Technology Partners.  The group is a member of ACA, PACT, PA Angel Network, Ben Franklin Angel Coordinating Group and others.

 

For information, please contact: Communications Chair, Leo Levinson, CEO of GroupLevinson Public Relations, [email protected], 215-627-3030.

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9 Questions When Dividing Founder Equity

By Charles Weinstein, EisnerAmper LLP

A trio of 20-somethings has a great new product idea tied to the gig economy. Each brings something unique to the table, and all are committed to getting this disruptive innovation to market. While they have to address a myriad of issues, one issue they overlook at their peril is dividing ownership in this embryonic company. Splitting start-up equity among founders can be an emotionally charged experience. However, there are some tips for refining the process:

  1. Are All Founders Created Equal? Topping the to-do list is deciding if the founders will split equity evenly or unevenly. While expedient, this approach may not reflect the relative contributions of the founders. Will an equal ownership split impede future decision-making because founders have the same voting rights? There’s no one-size-fits-all answer. Take the time to fully examine the many facets of equity.
  2. What factors would favor an uneven split? This is the age-old question of ideation versus execution. Are you betting on the jockey or the horse? The answer is really both. Look holistically at who is investing capital, bringing in key contacts, providing elbow grease and leveraging experience. Decide if more risk and sweat deserve extra equity.
  3. When do we tackle this issue? There’s no exact time; it can take years for an idea to turn into a business. However, the equity distribution decision should be made early in the process, prior to external capital investment. As you reconcile this, take some time to get a lay of the land now and what it may be in several years. Have a discussion that is open, thorough and practical.
  4. How can we determine the best unequal split? There are some guidelines you can use. It can be milestones based on owners’ expected roles and performance, or you can assign a weighted average to some of the aforementioned parameters to arrive at an “equity score.” There are several online equity calculators you may want to try.
  5. How about a vesting schedule? To really gauge the founders’ commitment, equity might vest over several years. VCs generally like to see a one-year cliff; if an owner leaves within a year of formation he/she walks away from all or most of his/her equity.
  6. Are there equity levels? First, determine and allocate shares for founders and then establish an option pool for key current and future employees. Explore phantom stock as an alternative incentive.
  7. Are there tax implications? Shares are often used to lure staff and talent. According to Internal Revenue Code Section 83B, company founders can elect to pay tax on unvested restricted shares when they are issued, at a presumably lower value than paying tax on them when they vest. The caveat is they may not have cash for the tax liability. Conversely, they can pay taxes on income as shares vest, which could be at a higher value. It can make a significant financial difference for owners, and they have a short window in which to make the 83B election.
  8. What about company valuation? VCs and founders often have a different opinion on valuation. At the company’s inception, founders need to look at valuation and equity, from a number of perspectives, both now and into the future, perhaps, five years out. Shareholder agreements should include guidance in the event of an exit. Will there be a put option or call option for founders who leave? Remember, buybacks can be expensive.
  9. Are there other VC considerations with respect to owner equity? Because shares will get diluted when angels and VCs enter the picture, it again necessitates that owners look at both the journey and the destination. Investors want a return commensurate with their risk level. Thus, founders need to have a vision and a long-term commercial strategy. VCs may recognize company limitations (technology, sales, and marketing) unseen by owners. In this case, founders need to be knowledgeable about the business’ prospective cash needs and the impact future dilution may have on ownership amounts.

The conversation regrading founder’s equity is often overlooked or deferred while the focus is on making dozens of other, sometimes more exciting, start-up decisions. Dividing founder’s equity sets an important tone. Talk it through. Make every effort to avoid the “let’s just shake on a number and move on” approach. In addition to the economic ramifications, don’t discount the emotional ones, particularly if the new company involves friends or family members.

Charles Weinstein is the CEO of EisnerAmper LLP.  With more than 35 years of public accounting experience, Charly is an author and frequent speaker on the topics of governance, mergers and acquisitions, and public and private financing. Contact him at [email protected].

This article originally appeared in VC-List.com.

Addressing the Health Crisis in Philadelphia’s Poorest Neighborhoods

By Leroy E. Jones, Founder and CEO, GSI Health

As the “poorest big city in America” Philadelphia has its challenges—particularly for healthcare. Struggling to treat Philadelphia’s large Medicaid and uninsured populations, hospitals are strained to their limits from low reimbursement rates and other issues. And poverty in the city, including healthcare burdens, costs us jobs, new business development, tourism, and other economic growth opportunities. Additionally, a strained healthcare system will not deliver the highest quality care, and the effects of this are seen in the health statistics for Philadelphia citizens, including a sad capstone that in 15 zip codes in North Philadelphia, life expectancy of children is 20 years shorter compared to their counterparts in wealthier zip codes.

But with tremendous challenges come tremendous opportunities for greatness. Philadelphia has the opportunity and the wherewithal to become a national leader in developing models of care that overcome the obstacles in caring for challenged populations. A partnership among the major stakeholders in this region can catalyze progress and magnify the impact of healthcare delivery not only in Philadelphia, but ultimately in all urban centers that follow our lead.

To that end, we have organized the Digital Health Initiative of Philadelphia (DHIP) in our hometown to try to leverage technological innovation from health IT companies in the region to benefit the most vulnerable populations of Philadelphia. We believe this is a win-win-win scenario: digital health companies win by getting real populations to validate the value of their offerings; vulnerable populations win by having the latest in healthcare technology curated and applied to improve their health outcomes; and the region wins by becoming a leader in how to manage tough chronic diseases, complicated behavioral health issues, and adverse social conditions through advanced population health techniques. The Digital Health Initiative of Philadelphia (DHIP) is galvanizing our business, political, technical, and social communities in this charge toward greatness.

 

DHIP—What Is It?

 

The DHIP seeks to promote digital health across the city, applying technology consistently to achieve better health outcomes in a community-based care model of population health management. So what does this mean?

Digital health in the Philadelphia area can be an enabler for our local health institutions to collaborate and to apply contemporary techniques to improve care. Strong minds from the medical, behavioral, human services, and technical domains are co-resident here to enable world-class healthcare applications and leverage them into emerging workflows that optimize new payment-reform initiatives. We need those minds to come together and organize toward a common goal—effective and efficient population health management—and adopt common curated technology donated by digital health companies that will help us reach that goal. This will enable these organizations to implement community-care models that yield better outcomes for the people they serve, and better operations for the participating service providers.

This initiative is a way forward for the city to emerge as an unqualified leader in the digital health space—and in the process to accrue the benefits of this leadership, such as creating jobs, attracting residents and businesses, and optimizing healthcare.

 

Population Health Management as a Platform

Population health management (PHM) is one of the standout areas in healthcare and healthcare IT today. It is maximized when it is comprehensive and community-based, includes all services that impact a patient’s health (e.g., medical, behavioral, social), and extends beyond the walls of any single care establishment to encompass all relevant service providers contributing to patient wellness.

PHM’s breadth of coverage in the delivery of care can engage many stakeholders, thus making it a valuable platform to leverage to ensure maximum inclusion and applicability for healthcare change. And significant value is available to these stakeholders who can implement a successful PHM strategy:

  • Patients gain the most through community-based care management that improves care quality and outcomes.
  • Providers benefit through collaboration across the community that improves efficiency, provides insights on effective treatment, and mitigates risk.
  • Payers and managed care organizations can more effectively distribute risk and influence care as it is being planned and executed rather than after the fact.
  • Employers, particularly those that self-insure, can directly affect the health of their employees and provide a direct channel for enrollment.
  • Digital health companies, including the entire ecosystem of local technology businesses, can innovate and validate their offerings in a real-world use case.
  • The Philadelphia region will develop a leadership position that will attract investment, businesses, and people to the area. PHM is a job generator.

 

Call to Action

The DHIP was born out of desire to accelerate the widespread and tangible application of technology to improve healthcare in Philadelphia, and to make Philadelphia a recognized leader in digital health. A core principle of the initiative is thoughtful but rapid forward progress. You can help by taking action:

  • Endorse—Support the DHIP by lending your name and making a public endorsement of this initiative, which may include listing your name in materials used to promote the DHIP.
  • Fund—Support the DHIP by investing your dollars in Philadelphia through underwriting DHIP activities. Our goal is to develop an optimal long-term funding strategy such as a combination of local funding from stakeholders and a sustainable business model (which will be pursued).
  • Participate—Support the DHIP through planning and contribution of in-kind resources. For local digital health companies, incubators, and institutional investors, bring forward your digital health assets for consideration. For services providers of human services, health care services, and behavioral health services, join our effort to apply these technologies toward the betterment of collaborative care.
  • Proliferate—Support and advocate for digital health across the city.

The citizens of Philadelphia deserve the best healthcare, and our best efforts to ensure it.

 

Want to Learn More?

Read more about how Philadelphia can emerge as an unqualified leader in the healthcare space at gsihealth.com/DHIP, and about the benefits for the Philadelphia region at gsihealth.com/PHMforPhilly. Contact LeRoy E. Jones, Founder & CEO, GSI Health at [email protected] for more information.

 

About LeRoy E. Jones, Founder & CEO, GSI Health

LeRoy E. Jones founded GSI Health to help solve a problem—the uninformed, uncoordinated care being practiced in today’s healthcare system. He strives to drive innovation in the healthcare IT industry to create a world in which data-driven technology optimizes care delivery, and ultimately results in healthier patients and populations.

PACT and Ben Franklin Launch Mentor Connect

Collaboration brings unprecedented, qualified mentorship to CEOs and leaders within PACT and Ben Franklin companies

Philadelphia, Aug 29, 2017 – The Philadelphia Alliance for Capital and Technologies (PACT) and Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) publically announce Mentor Connect, a program providing founders and leaders of emerging companies with coaching, connections, and tools to successfully grow their businesses.

Mentor Connect brings the experience of a curated team of leaders and experts to the entrepreneurs most ready to grow, assisting in the development of their business skills. As guided by the principles and standards of MIT Venture Mentoring Service, mentors deliver impartial and unbiased advice by a code of ethics to which all must adhere. Entrepreneurs from the PACT and Ben Franklin networks receive practical hands-on advice from teams of three to five mentors, tailored to each venture’s needs. The mentors volunteer their wealth of entrepreneurial insights from a broad range of industry and market-tested experience.

Thanks to positive response received from both entrepreneurs and mentors alike since the July 2016 soft launch of the program, PACT and Ben Franklin have already doubled Mentor Connect’s capacity to connect entrepreneurs and mentors, with close to 40 mentors, 27 mentees, and about 60 mentoring sessions already facilitated by the program. “I think the program is incredible,” says Mentor Connect participant, Kim Coffey of Talex Medical, “It is an amazing opportunity to learn from seasoned professionals at zero cost. I am lucky to have three mentors from different backgrounds and varied expertise that contribute greatly to guiding me in my maiden voyage.”

“When an entrepreneur with a good idea is matched with a team of mentors with proven skills and experience, their venture is more likely to succeed,” explained Dean Miller, PACT President and CEO. “We are enormously proud of year one’s success and what we were able to accomplish in such a short time. I look forward to seeing what the future holds for Mentor Connect.”

“Ben Franklin’s focus is on the entrepreneur,” said RoseAnn B. Rosenthal CEO of Ben Franklin Technology Partners. “We want to help the CEO to achieve his or her vision while building a growing enterprise that creates value for our region. Mentor Connect offers focused support to the CEOs of our portfolio companies. It also re-engages, as mentors, some of our most successful entrepreneurs, men and women who are now on their second or third businesses and who are ready to give back by sharing their real experiences with new, first time entrepreneurs,” she added.

For more information, please visit mentorconnectphl.com and contact Jennifer Cohen.

 

About Ben Franklin Technology Partners of Southeastern Pennsylvania
Ben Franklin is the most active early stage capital provider for the region’s technology sectors. Ben Franklin combines best practices of venture capital with a public-spirited purpose: leading the region’s technology community to new heights, creating jobs and changing lives for the better. Ben Franklin is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority. www.sep.benfranklin.org

About PACT

Philadelphia Alliance for Capital and Technologies (PACT)’s vision is to be the go-to resource for fast growing companies, and a driver of entrepreneurship and innovation in the Philadelphia region. PACT provides its members with valuable content and connections to capital, coaching, and customers that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region. Visit www.philadelphiapact.com for more information.

 

Media Contacts

Amanda E. Nardi,

Public Relations and Marketing

PACT

(215) 790-3608

 

Amanda V. Wagner

Public Relations and Community Development Associate

Ben Franklin Technology Partners

(215) 972-6700

 

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PACT Supports the International Entrepreneur Rule

Alongside the National Venture Capital Association, PACT will be signing a letter in support of the International Entrepreneur Rule. We stand ready to help implement this rule that will ultimately allow the creation of new companies in the United States of America. Unfortunately, the Department of Homeland Security (“DHS”) has delayed the effective date of the International Entrepreneur Rule and plans to propose to rescind the rule. This decision contrasts with President Trump’s goal of spreading economic prosperity across the United States and ensuring the U.S. remains the global leader in innovation. We strongly encourage DHS to keep the rule in place and use the effective date delay to prepare for accepting applications from entrepreneurs beginning in March 2018.

Here are the benefits of keeping the International Entrepreneur Rule in place.

  • The International Entrepreneur Rule will allow the world’s best entrepreneurs to create jobs in our country, rather than overseas where they will then compete with American workers.
  • Keeping in place the International Entrepreneur Rule would further President Trump’s goal of spreading economic prosperity to areas of the country in desperate need of new jobs.
  • Unfortunately, American entrepreneurship is at a crossroads. Immigrant entrepreneurs can provide a key shot of entrepreneurial energy into the U.S. economy.
  • Retaining the International Entrepreneur Rule will also further President’s Trump’s goal of making the U.S. more competitive on a global basis.
  • The United States must keep in place the International Entrepreneur Rule to attract the best entrepreneurs rather than push them away.

The administration can embrace the economic benefits by not seeking to rescind the rule and instead by preparing to accept applications from talented entrepreneurs who will bring with them new jobs for Americans who need them.

Read the final letter.

The CEO at Exit: Prepare; Talk; Listen; Empathize

Being the CEO and running your business during “normal days” is full of challenges whether you are growing fast, slow, or not at all.  When the opportunity arises, either by luck or happenstance or by your own decision and initiative, to go down the path of exiting (selling) your business, a very different array of challenges emerges for you.  Because now you are entering a process for which you were never trained, and if you are lucky, perhaps you experienced this once, maybe twice, but likely never at all.  There is not a single CEO I have worked with or spoken to about the exit process who has not defined it as anything but the complex, confusing and convoluted process that it is.  So if this is the feeling of the CEO about the exit process, you can easily imagine the emotional and physical state of every member of the CEO’s team as they live through this too.  Then what do you need to do to lead your team to perform, cope with, and survive the process to not only the closing but through life thereafter?

Click here to read the full article.

The Connected Health Cloud: From Concept to Catalyst

Recently, a local organization and PACT member,  CloudMine, was cited as a leader in The Forrester Wave™: Enterprise Health Clouds, Q3 2017. The report was released on July 26, 2017 by Forrester Research, Inc., a leading global research and advisory firm, to help healthcare CIOs objectively evaluate enterprise health clouds.

Vendors were evaluated on 37 criteria, grouped into current offering, market presence, and strategy. Ten vendors were evaluated, each one providing: easy integration with major EHR providers; the ability for enterprises to develop a 360-degree view of their patients; advanced analytics capabilities, including patient analytics; SDK and API inclusion; data governance and access management; and HIPAA compliance in handling PHI. CloudMine was one of five vendors cited as a leader.

The vision of digital transformation of healthcare is expressed through many innovations, including major initiatives telemedicine, IoT/wearables integration, mobile-enabled clinical trials, and integrated disease management. With the emergence of policy mandates such as the 21st Century Act and MACRA, the motivation to accelerate this transformation is increasing. However, a significant gap exists in this evolution: a lack of interoperability poses a major barrier to achieving connected health. CloudMine, a venture-backed health cloud platform provider, is leading the way to a more agile, better connected healthcare experience.

Access your complimentary report here to learn more from Forrester.

Relay Network Named a “Cool Vendor” by Gartner

Mobile communications software provider recognized for bringing innovation to customer service and support space.

Philadelphia, June 12, 2017

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Relay Network, the company taking the guesswork out of customer service, has been recognized as a 2017 Cool Vendor in Gartner’s CRM Service and Support Report.  The research provides application leaders and customer service business buyers with a view of five Cool Vendors that bring innovation to the customer service and support space.

Providing superior service and support is the new competitive battleground for companies as expectations for how customers want to interact with businesses continue to rise.  Customers want easy and effective interactions, but businesses haven’t been able to meet such expectations despite the billions of dollars invested in multiple customer facing tools, apps, and portals.

Relay takes a different approach; instead of infinite choices, Relay Network connects companies with their customers on a single, private web app built for self-service.  Using Relay’s platform, businesses can easily create, deliver, and automate guided self-service experiences that proactively direct the right customer, through the right process, with the right tools.  Unlike existing self-service solutions, Relay extends the service and support capabilities of businesses beyond apps, portals, and emails while requiring minimal technological investment or effort.

“We consider our inclusion in the CRM Customer Service and Support Cool Vendor Report by Gartner confirmation of our mission to simplify and improve communication between businesses and their customers,” said Brieana Tascione, CMO of Relay Network. “Existing self service tools aren’t delivering results that businesses need.  Relay allows leading enterprises to go above and beyond by delivering guided self service experiences, enabling their customers can get things done quickly and easily.”

Founded in 2010, Relay has attracted top consumer facing enterprise across healthcare, telco, travel, financial services, and utilities that are seeking a new, better, and cost-effective way deliver out a better customer service experience.

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“Cool Vendors in CRM Customer Service and Support, 2017” was released May 23rd by Gartner Analysts Olive Huang, Jim Robinson, Micahel Maoz, Jim Davies, Brian Manusama, Jenny Sussin,

https://www.gartner.com/doc/3723426/cool-vendors-crm-customer-service

Disclaimer

Gartner (http://www.gartner.com) does not endorse any vendor, product or service depicted in our research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

About Relay Network

Relay Network provides a mobile customer communications platform that connects businesses with their customers on a single, private web app built for service. Using Relay’s platform, businesses can create, deliver, and automate guided service experiences that proactively direct the right customer, through the right process, with the right tools. Some of the largest organizations including Comcast, Independence Blue Cross, and Citizens Bank use Relay to increase customer retention, improve outcomes, and reduce costs. For more information, visit www.relaynetwork.com.