Fiveworx announced today that Knoxville-based Northshore Management Company has acquired majority ownership in Fiveworx. As part of the transaction, Fiveworx management and founders will maintain an equity position in the company.
The transaction will allow the company to accelerate development of its persona-based email marketing and marketing automation software platform, enhance client service, and expand its national reach. Fiveworx has seen impressive expansion to date among electric and gas utilities and energy service providers, and this investment allows the company to build on that momentum to meet increasing demand.
In addition, Fiveworx will gain access to the extensive business acumen and experience of Northshore’s top executives, who will help Fiveworx in its journey of dramatically expanding its service offerings and client base.
[mks_pullquote align=”left” width=”300″ size=”20″ bg_color=”#8224e3″ txt_color=”#ffffff”]“From the beginning, our vision has been to help utilities improve their relationships with their customers, drive greater participation in programs and services, and get a bigger bang for their marketing buck by communicating with customers on a more personal level,” says Suzanne Shelton, Co-Founder of Fiveworx. [/mks_pullquote]“The results from our award-winning work show we’re doing just that. With Northshore’s investment, we believe that these additional resources will take our product, client service, and business development to the next level.”
As part of the deal, Northshore is now the majority owner of Fiveworx, though the founders and key personnel will retain ownership stakes and leadership roles in the company.
“The team at Fiveworx is enabling utilities and energy service providers to more deeply connect with and engage their customers to take advantage of a variety of products and services,” says Mike West, CEO of Northshore Management. “Their unique and innovative approach of using persona-based content and custom-built marketing automation is changing the way utilities communicate with their customers. We are thrilled to be a part of that mission and see applications for the core persona-based marketing automation tool Fiveworx has built in other vertical markets as well.”
Fiveworx has received numerous industry recognitions this year for its work in using persona-based content, customer journeys, and custom-built email marketing and marketing automation software to engage and motivate utility customers to action. Utility client program, Alliant Energy Advisor, recently received the Midwest Energy Efficiency Alliance’s 2016 Inspiring Efficiency Award in Education and Utility Communicators International’s 2016 Better Communications Competition Gold Award in the Digital Properties Category.