M1 Global Solutions, a startup focused on business process management through multiple channels, has closed on its first round of venture funding.
The company, which touts being able to deliver the “on-demand enterprise”, described the amount as “over $4 million.”
The funds will be used for software development and a hosting infrastructure for enterprise business and communications management, M1 said.
The investors include serial entrepreneur Michael McChesney, who is the chief executive officer and founder of M1, plus Noro-Moseley Partners and entrepreneur Trip Rackley, who is entrepreneuer-in-residence at Noro-Moseley.
Alan Taetle of Noro-Moseley and Rackley join M1’s board as part of the deal.
“Gaining support from the respected venture firm Noro-Moseley at this early stage of our company validates our strategy and the value proposition that we offer to the business process management and interaction management marketplaces,” said Lawrence Catchpole, chief strategy officer of M1 who co-founded the company along with McChesney.
M1 provides software and services for managing business processes through the web, voice, self-service collaboration and email. The company is based in Atlanta and has a development center in St. Petersburg.
The venture is the latest for McChesney, who also is a partner in Five Paces Ventures. His other startups included SecureWare, Security First Technologies and WebTone Technologies.
“We believe M1 Global is in a unique position to help companies optimize their business processes and communications,” Taetle said in a statement. “Also, their solutions can turn fixed costs into variable costs by offering a hosted solution as an option.”
ML recently introduced MDE Studio, a modeling and application development tool, based on object management. It also is developing Essistant, an application designed for project development.
M1 Global: www.m1global.com
