Customer relationship management company, Point Information Systems Inc of Wellesley, Massachusetts, has closed a $10m second round of venture capital funding, bringing the total investment in the company up to $17m. Point was founded in Munich, Germany in 1989 and established a client base of Fortune 50 companies with its TeamPoint product, including Liberty Mutual, Singapore Telecom, Commonwealth Bank of Australia, and the giant Frankfurt- based insurance company Allianz Group AG. Over the last 18 months, the company has been quietly setting itself up in North America, establishing US operations outside of Boston and expanding its management team with executives hired from Lotus Development Corp and Avid Technologies Inc, including Paul Basson, former VP of Worldwide Sales and Marketing with Avid. Point sees itself as a competitor against the new breed of high profile customer relationship forms such as Siebel Systems Inc and Vantive Corp. The new funding comes from Allianz Capital Partners Gmbh, the private equity arm of the Allianz Group.
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