Riverside Partners, based in Boston, Massachusetts, it has completed a growth equity investment in Vocollect, a provider of voice enabled workforce solutions for mobile workers.
Riverside Partners, based in Boston, Massachusetts, it has completed a growth equity investment in Vocollect, a provider of voice enabled workforce solutions for mobile workers.
The investment is designed to accelerate Vocollect’s growth through a variety of ongoing initiatives including geographic expansion and product development efforts, as well as to expand the penetration of Vocollect Voice into markets beyond supply chain and healthcare.
Vocollect’s supply-chain business was founded more than 20 years ago. The company provides voice applications for use across core supply-chain functions, such as distribution centres and warehouses. Vocollect says it helps customers reduce costs, increase worker productivity and accuracy, and improve safety and worker satisfaction.
Vocollect Healthcare Systems’ AccuNurse voice-assisted care solution is used by nurse aides for the management and documentation of patient care in skilled nursing facilities.
"Vocollect’s voice-enabled workforce productivity systems are widely recognized for streamlining supply-chain workflows, and enhancing worker performance and accuracy. Beyond their success in the supply-chain business, we were impressed by the success of Vocollect’s management in leveraging the company’s core technology to enter the healthcare IT market. Vocollect’s healthcare products enable SNFs to deliver more effective patient care, increase worker productivity, and reduce the administrative costs of compliance. Riverside is excited to partner with Vocollect’s co-founder and chief executive Roger Byford, and we look forward to working with Roger and his team to further the company’s growth," says Steven F. Kaplan, general partner of Riverside Partners.
"Vocollect was looking for a partner that brought more than just capital to the company. The existing shareholders and management wanted a value-added partner with deep domain experience in the technology and healthcare markets. We believe the team at Riverside Partners is well-suited to help Vocollect build on its strong foundation and accelerate our growth," says Byford.
