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Mindshare Technologies Moves to Expand Its Capabilities and Services

Utah's Mindshare gets $20 million investment

October 4, 2011 — Salt Lake Tribune Staff
Salt Lake Tribune
This article was originally published on October 4, 2011 by the Salt Lake Tribune. The original article can be read here.

Sorenson Capital has invested $20 million in Mindshare Technologies, a Utah company that produces speech and text analysis software, which provides clients feedback from customers and employees.

The PrivateBank and Trust Co. also provided a line of credit to the privately held Mindshare, which says it has had 100 consecutive months of revenue increases.

As part of the investment, Fraser Bullock, managing director of Sorenson Capital, and Ron Mika, a Sorenson co-founder and also a managing director, will join the Mindshare board, according to a news release.

"After talking to a number of interested private equity firms, we chose Sorenson Capital because we are confident that they will be the ideal equity partner for Mindshare," said Richard D. Hanks, chairman and president of Mindshare Technologies.

Mindshare said it completes more than 175,000 customer surveys each day in 106 countries, 28 languages and for 25 different industries. From $3,600 in May 2003, the company said its monthly revenue in August 2011 grew to more than $1.6 million. It counts as its customers Arby's, Hertz, Tony Roma's, Comcast and Marriott, the news release said.



About Mindshare Technologies
Mindshare drives operational improvement. Using Mindshare, companies improve operational excellence, foster consumer satisfaction, build customer loyalty, and support employee retention. Our industry experts guide clients in building comprehensive enterprise feedback management (EFM) solutions. Mindshare's proprietary survey technology captures the voice of the customer in real-time and immediately transforms it into actionable intelligence through powerful and incisive reporting. Mindshare serves more than 25 different industries including travel, hospitality, restaurant, financial, salon, automotive, and retail. For information, visit www.mshare.net.