FOR MORE INFORMATION
John Gates, Elevate Communications, (617) 861-3651
PORTSMOUTH, NH, October 17, 2006 —Whaleback Systems™ today announced that Michael H. Shanahan of Egan-Managed Capital has joined Whaleback’s Board of Directors.
“Egan-Managed Capital has a history of partnering with entrepreneurs to build successful, New-England based companies,” said Mark Galvin, co-founder, president and CEO of Whaleback. “The firm recognized the value and growth potential of Whaleback and was a key contributor to our Series B financing, and Mike will help guide our corporate growth as Whaleback delivers the first and only managed IP telephony service designed from the ground up to meet the needs of small and midsize companies.”
“The feedback we received in our due diligence on Whaleback stood out as among the most compelling we have seen,” noted Shanahan. “Our work convinced us that Whaleback’s product, management team and distribution strategy sets them apart in a very confusing IP telephony market and we are thrilled to be able to help with their continued growth.”
Shanahan has spent more than 25 years in finance and early stage venture investing. He co-founded Egan-Managed Capital in 1997. As managing partner at Egan-Managed Capital, Shanahan oversees a $232 million pool of capital and has been involved in more than 35 early stage investments. He serves on the Boards of Directors of Genalytics, IntelliVid, Nexaweb, OnePIN, Softrax Corporation and Top Layer Networks. He formerly served on the boards of AllVertical, Conjoin, Lineo, Monetrics, Network Engines, Network Intelligence, Sandy Bay Networks, Terascape Software and Vicor Corporation. He holds an AB in Economics from Holy Cross College, and an MBA from Harvard Business School.
Egan-Managed Capital was formed with the objective of helping future entrepreneurs build significant enterprises. The firm seeks opportunities to invest in companies where it can provide more than just capital. Egan-Managed Capital looks for situations where it can provide tactical and strategic assistance in areas where its team members have relevant knowledge.
Whaleback Systems is a Managed Service Provider (MSP) and the pioneering developer of the first business phone solution built from the ground up for broadband. Unlike traditional systems, the Whaleback CrystalBlue Voice Service is 100 percent premises-based and software-driven. It includes the only IP PBX with Key System Unit features and Road Warrior Functionality. Whaleback's all-inclusive, unlimited domestic calling package makes the most advanced technology immediately affordable for companies that need between 5 and 1,500 phone stations. The Whaleback service is available through partnerships with channel partners and VARs.
