PR - Collections Marketing Center Completes Private Fundraising

Newark, Del.-based Collections Marketing Center (CMC), the industry’s first completely "virtual," automated collections services company, today announced that it has successfully completed a private fundraising effort that completes its transition to an independent company. Initially funded and owned by Bridgeforce, a leading consultancy with specialized expertise in credit, risk and collections, CMC is now independently owned and operated with a Board of Directors that includes former executives from Citicorp, MBNA, IBM’s Financial Services Business Unit, and several successful early stage growth companies.

Separately, the company announced ongoing partnership agreements with Bridgeforce in the areas of business development, strategy consulting, and business analytics. "The initial growth and success of CMC has so far exceeded our expectations that it became clear the company would thrive as an independent entity," said Willey, Bridgeforce founder and CMC Board Chair. "We are proud to have helped bring this capability into being to serve the collections marketplace, and excited about the possibilities our continued partnership with CMC can effect."

CMC disclosed that its principal investors stem mainly from the financial services and technology sectors, owing to the extensive industry backgrounds of the company’s management team as well as its proprietary development of a level of integrated collections service delivery that includes several patent pending innovations. Former executives from Gartner Group to IBM and several major banks have come together to ensure that the company can bring this new capability to the broadest client base possible.

"This substantial capital infusion gives CMC the wherewithal to achieve its growth objectives in parallel with the continued success of our Bridgeforce partners, who have had such an instrumental role in bringing this vision into being," said Vytas Kisielius, chief executive officer of CMC. "The response we have had from seasoned financial services and technology-savvy executives who have become investors and directors in our company indicates that we are on the right path in conveying a new level of collections effectiveness to the industry beyond what is achievable with simple Web collections or IVR or text messaging offerings."

About Collections Marketing Center
Collections Marketing Center (CMC) is the industry’s first completely virtual, automated collections services company, with easily customizable applications capable of processing many types of past due debt including but not limited to credit cards, mortgage payments, healthcare receivables, telecom and utility bills. CMC was invented and launched by Bridgeforce, Inc., a business technology and strategy solutions firm headquartered in Newark, Delaware.

About Bridgeforce
Bridgeforce provides expert consulting services in the strategies, systems, and tools required to maximize the value of credit relationships. A unique group of experts has been carefully selected for their business knowledge and technical expertise in areas including customer acquisition, credit, collections, fraud, and payment systems. Of equal importance, Bridegeforce people are passionate about mutual success. This is evidenced by client testimonials and a record of long-term, multiple-engagement relationships.