First Analysis Venture Capital Invests in Customer Relationship Management Software Provider Witness Systems Inc

Business Wire, Sept 17, 1999

CHICAGO--(BUSINESS WIRE)--Sept. 17, 1999--

First Analysis Venture Capital in August participated with Noro-Mosely and Hambrecht and Quist in an $8 million investment in Witness Systems Inc., developer and supplier of customer interaction recording and analysis solutions that drive efficiency and effectiveness within customer contact centers. With a proactive approach to customer service, organizations can better manage customer interactions, reduce costs, increase revenue, and identify agent and supervisor training needs.

"With the wide-spread adoption of the Internet as a distribution and communication channel, organizations must fight even harder to maintain a stronghold on their customers," says Karen Buckner, a technology analyst with First Analysis. "This has caused companies to heighten their emphasis on proactive customer management and has increased their need to determine the effectiveness of these efforts."

Based on its unique voice/data synchronization capabilities, Witness Systems engineers solutions to record, evaluate, and analyze complete customer contact across a variety of media--including the telephone and the Web--to help its customers deliver world-class service. Witness Systems has installations at more than 300 sites for customers such as American Express, Capital One, Wells Fargo, USAA Insurance, Bell Atlantic, Sprint, Chrysler, and CompUSA.

Witness Systems' Web site can be found at www.witsys.com.

About First Analysis Venture Capital

With more than $500 million under management, First Analysis Venture Capital is one of the largest early-stage and emerging-growth venture capital firms in the nation. Typically the sole or lead institutional investor, First Analysis plays an active role in developing corporate strategy, management teams, and strategic alliances as well as arranging financing and liquidity events. First Analysis focuses primarily on the information technology, outsourced services, and infrastructure industries in the U.S.

For more information, please visit our Web site at www.firstanalysisvc.com or call (312) 258-1400.