Main Line software firm raises $12M

written by John George, Philadelphia Business Journal 

Relay Network, a Montgomery County software company that helps businesses and customers communicate securely in real time, raised $12 million in a private stock sale.

The financing was led be existing investors NewSpring Capital or Radnor, Pa., and Philadelphia-based First Round Capital along with Independence Health, parent company of Independence Blue Cross, the region’s largest health insurer.

Relay Network, also of Radnor, has now raised a total of $28.7 million since its inception in 2010. The company plans to use funds to continue scaling its technology platform and operations.

“Businesses are realizing a huge opportunity to improve customer relationships by making them feel more like personal interactions,” said Matt Gillin, CEO and co-founder of Relay Network, in a statement.

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