The PrivateBank and Trust Company provided an additional credit facility.
The company intends to use the proceeds from the investment for innovation and new-product development.
Led by chairman and president Richard D. Hanks, Mindshare Technologies develops and provides customized, industry-specific speech and text analytics. Its proprietary survey technology captures the voice of the customer in real-time and transforms it into actionable intelligence through detailed reporting. It serves more than 25 different industries such as travel, hospitality, restaurant, financial, salon, automotive, and retail in 106 countries and 26 languages. Clients include Arby’s, Hertz, Tony Roma’s, Comcast, Marriott etc.
In conjunction with the funding, Fraser Bullock, managing director of Sorenson Capital, and Ron Mika, a co-founder and managing director of Sorenson Capital, will join Mindshare’s board of directors.