TZP Investment Enables Thing5 to Optimize Its Strategy to Pursue Business in the Hospitality Vertical
New York, NY and Springfield, MA – October 15, 2013 Thing5, the leader in SIP trunking, hosted PBX and call center services for the hospitality industry, announced today that it has taken on an investment from TZP Capital Partners, a private equity fund focused on investments in U.S.-based middle market business and consumer services companies. Thing5’s momentum continues with multiple major installations underway within top tier hotel brands throughout the US and select international locations. These projects include implementation of Thing5’s services across corporate office locations and property locations. The projects upgrade the telecommunications platforms for corporate headquarters, call center locations and thousands of discrete property locations. Thing5’s solution set provides hotel owners and operators with unprecedented cost control as well as guest and property-specific data across their entire portfolio.
“Thing5 has demonstrated its ability to be a leader in the hospitality technology marketplace. We are convinced that the Company’s ability to significantly reduce capital and operating costs and improve the customer experience at hotels will continue to resonate within the hospitality space,” said TZP’s Managing Partner, Samuel L. Katz. “We are eager to assist David Thor and Thing5’s management in continuing to provide their customers with innovative products that enhance their profitability and productivity.”
“Thing5’s success has been exciting and our prospect for accelerated growth within the hospitality vertical has never been better,” said David Thor, president and CEO, Thing5. “We plan to continue to aggressively pursue our strategy to provide first-class service and innovative, value-added technology offerings to our customers. Our customers, employees and vendor partners will see no changes to our communications and operations other than the benefits of the greater resources an investor like TZP can provide, which has over two decades of experience in our vertical.”
Thing5’s enterprise solution utilizes burstable IP trunking; this enables on-demand sharing of under-utilized trunk capacity. Thing5 clients take advantage of its fixed rate calling, reducing their monthly telecommunications expense immediately – in most case by 40-60%. Thing5’s hosted PBX eliminates the significant capital expense associated with buying new or replacement PBX equipment. With Thing5’s solution, applications such as voicemail, automatic call distribution, audio conferencing and instant messaging are hosted in geographically redundant data centers rather than by the clients, and delivered as managed Internet protocol (IP) services over the Web, helping to control setup and operational costs. Thing5 provides its hosted PBX platform via a software-as-a-service (SaaS) model.
About Thing5 LLC
Thing5 LLC is a provider of next-generation voice solutions for the hospitality industry. Its offerings allow hotels to have access to powerful, cost-effective solutions that enable unparalleled control over the voice and online channels. Solutions include call center services, hosted PBX, voicemail, auto-attendant, SIP trunking, mobile device integration solutions, social media services and support for legacy PBX systems.
Thing5’s offerings fully integrate the people and technology components of voice services, and enable access to advanced analytics for all customer voice interactions including central reservations, on-property reservations, front desk and other business lines such as restaurants and spas.
Thing5 services are delivered on a highly scalable and geographically redundant platform as Communication-as-a-Service (CaaS), offering better security and control, as well as highly sophisticated reporting and intelligent routing tools. Thing5 solutions are deployed at thousands of hotels and growing. For more information, visit http://www.thing5.com.
About TZP Group
Founded in 2007, TZP Group LLC is a private equity firm with assets under management of over $500 million and which is focused on investments in North American-based business.
