Florida Growth Fund Pumps $3 Million into CallMiner

FORT LAUDERDALE - CallMiner Inc., a provider of enterprise speech analytics, today announced it had received a $3 million investment from The Florida Growth Fund LLC  upon the recommendation of the Fund's management group Hamilton Lane Advisors. The Florida Growth Fund investment is additive to the $4 million C Raise CallMiner announced it had closed on September 1, 2010.

Hamilton Lane Vice President Greg Baty said, "CallMiner is an impressive software company and our extensive due diligence on their product and customers proved they are on a fast track to success. Given the Florida Growth Fund's commitment toward investing in best-of-breed technology or growth-related businesses in Florida, we believe CallMiner is an excellent fit for the Fund."

CallMiner's President and CEO Terry Leahy said, "CallMiner is very pleased to welcome The Florida Growth Fund to our existing investor base. We are a Florida-based firm, and we plan to use these proceeds to fuel rapid growth and product innovation."

As part of CallMiner's expansion activities over the next five years, it plans to increase total head count by nearly 150%, with 68% of the total team expected to be based in Florida. Growth in CallMiner's head count will come primarily in prestigious software development and professional services positions, with an average fully loaded annual salary of more than $70,000. Total estimated impact to the Florida economy from this portion of CallMiner's expansion activities will be in the $8-$12 million range.

Leahy said, "CallMiner is enormously excited about what the future holds for our customers, team members and investors."

The Florida Growth Fund was established in 2009 to enhance Florida's capacity for development, growth and innovation. On behalf of the Florida State Board of Administration, Hamilton Lane actively pursues private equity investment opportunities for the Florida Growth Fund. The Fund has $250 million under management. Our experienced investment professionals guide these opportunities through our rigorous due diligence process into one of two structures: private equity investments and directly into companies through a co-investment with another institutional investor.