Milestone Venture Partners Invests in Collections Marketing Center

NEW YORK — Milestone Venture Partners, an early-stage venture capital firm, today announced that it has invested in Collections Marketing Center, Inc. (“CMC”). Milestone led the Series B financing, which is CMC’s first institutional round of funding, and was joined by the Delaware Economic Development Office. As a result of the financing, Morgan Rodd, General Partner of Milestone, will join CMC’s Board of Directors.

Delaware-based CMC provides a multi-channel collection and loss mitigation platform – web, e-mail, text messaging, voice and letters – that enables creditors to reach and engage borrowers more effectively, thereby increasing payments and decreasing delinquencies and charge offs. The CMC platform is the only fully-integrated platform in its market, and it is deployed as an outsourced service that integrates with a creditor’s existing collections infrastructure. CMC generates revenue through a subscription model based on the number of accounts managed by its platform. Currently, CMC is managing over 7 million accounts across its client base.

The investment in CMC marks the twelfth investment that Milestone has made out of its current fund, Milestone Venture Partners III. CMC also represents the second financial services technology investment Milestone has made in the past year.

“We invested in CMC because its multi-channel, self-service approach to debt collections and loan loss mitigation has the opportunity to revolutionize the way creditors engage with their customers, thereby decreasing delinquencies and defaults,” said Morgan Rodd, General Partner of Milestone. “In fact, CMC’s existing customers are already seeing an improvement in their ability to manage risk, alleviate potential loan losses and strengthen communications and relationships with their account holders.”

“We are pleased to have Milestone as an investor and delighted to have Morgan Rodd join our board,” said Vytas Kisielius, CEO of CMC. “Because of Milestone’s deep domain expertise in financial services technology and strong track record of funding successful technology-enabled business services companies, we chose to work with Milestone because we believe they will add significant value to CMC as we continue to build the company.”

About Collections Marketing Center
Collections Marketing Center pioneered the industry’s first fully integrated, multi-channel, adaptive collections service to maximize cost-performance. The FlexCollectSM platform combines advanced technology, a marketing focus and responsiveness to changing consumer behavior to optimize results for creditors in their credit risk and default management operations.

CMC easily customizes applications to process many types of debt, including credit cards, home equity loans, mortgage payments, healthcare receivables, and telecom and utility bills. For more information, visit www.collectionsmarketingcenter.com.

About Milestone Venture Partners
Milestone Venture Partners, located in New York City, is an early-stage venture capital fund with $70 million under management. Milestone’s investment strategy is focused on capital-efficient, technology-enhanced services businesses in the Greater New York region. Areas of expertise include media and marketing services, healthcare IT, and financial services IT. For more information about Milestone, visit www.milestonevp.com.