Star2Star Communications has raised $30 million in financing from NewSpring Capital and PPM America.
NewSpring Capital, a family of private equity funds headquartered in Radnor, Pa., invests in dynamic companies with the goal of partnering with management teams to accelerate growth and develop their businesses into market leaders. NewSpring’s investment in Star2Star marks a key milestone for the firm, as Star2Star is the firm’s 100th portfolio company.
The Star2Star investment was led by the firm’s dedicated growth and expansion stage fund, NewSpring Growth Capital.
“Star2Star is proud to be moving forward with NewSpring Capital,” said Star2Star CEO Norman Worthington. “We have been continuously expanding since 2006 and are ready to accelerate our growth to an unprecedented level. We are very excited about the additional growth opportunities that partnering with NewSpring Capital will provide.”
“Right now, I truly feel that we have the right team and the right model in place to take Star2Star to the next level,” said Worthington. “We’ve already positioned ourselves as an innovator and leader in delivering cloud communications, and our new relationship with NewSpring Capital is the next step towards securing our place at the top of the increasingly crowded communications marketplace.”
