DataSync today announced that it has closed $1.05 million in private equity funding to support the company’s continuing strong growth. The funding was led by Nordic Venture Partners, a regional private equity firm founded and managed by Paul Schock and Chad Hatch. Also joining in the funding is the South Dakota Development Corporation and DataSync management.
“This financing allows us to continue to add and train employees to support the strong and growing market demand for our services,” said Craig A. Anderson, Chairman and CEO of DataSync.
The company offers its custom software analysis and solutions to businesses locally and throughout North America and Europe. Since late 2013 DataSync has added 20 new positions and presently plans to hire up to an additional 15 to 20 employees by the end of 2015. In early 2015, it was named a SugarCRM Elite Platinum Partner and ranks as one of the top SugarCRM channel partners in the world.
“Our investment in DataSync is part of our continuing efforts to support exceptional businesses in our area,” stated Paul Schock, Managing Partner of Nordic. “The DataSync management team and employees represent the very best of the evolving high technology and software businesses in South Dakota and our surrounding region. We look forward to watching and supporting their efforts to export our Midwestern work ethic throughout the country and around the globe.”
Additional investors were, Craig Anderson, DataSync’s Chairman and CEO, and the South Dakota Development Corporation, a non-profit private development corporation.
“We especially appreciate the support and encouragement the South Dakota Development Corporation.” said Anderson. “It is a privilege and a great responsibility for us to use this financing to create and grow well paid, quality technology jobs in the state.”
With over 10 years of business software experience, DataSync has rapidly grown to be a leading software advisor to mid-market and SMB companies across the country. Privately held by over 65 shareholders, the company provides software advice, design, and implementation services to customers located around the world. The company is headquartered in Sioux Falls, South Dakota, a metro area with a population of approximately 250,000 in southeastern South Dakota highly rated as one of the best places in the United States to live and grow a business. For more information visit the company’s website at http://www.datasyncsolutions.com.
Forward Looking Statements
Some of the statements in this press release may include statements about DataSync’s future plans and expectations. Statements that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Exchange Act and Section 27A of the Securities Act. Such statements include projections of financial and operational results and goals, including revenue, EBITDA, profitability, savings and cash, as well as statements about future product and service offerings, service quality, development plans, and employee opportunities. These forward-looking statements are subject to known as well as unknown risks and uncertainties that may cause actual results to differ materially from our expectations. Our expectations are based on various factors and assumptions and reflect only our predictions. Factors that could cause actual results to differ materially from forward-looking statements include technological, regulatory, public policy or other developments in our industry, availability and adequacy of capital resources, current and future economic conditions, the existence of strategic alliances, our ability to generate cash, our ability to implement process and network improvements, our ability to attract and retain customers, our ability to migrate traffic to appropriate platforms and changes in the competitive climate in which we operate. DataSync undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.