SAN FRANCISCO, Oct. 31, 2006 (PRIMEZONE) -- Avolent today announced the election of Anthony Bettencourt III, US Venture Partners' entrepreneur-in-residence and former CEO of Verity, Inc., to its corporate board of directors. At Verity, Anthony was responsible for growing the business from $15 million in annual revenues in 1995, to more than $140 million in 2005. In 2005, he was awarded the prestigious Ernst & Young Entrepreneur of the Year award for software and technology in the Silicon Valley.
Anthony's addition to the Avolent board underscores the company's commitment to attract and leverage industry expertise to meet Avolent's challenge of managing continued growth. "I am excited and energized about this opportunity to join the Avolent team," said Bettencourt. "Avolent's offering provides strategic value to its customers, and to its customer's customers. Combining compelling customer benefits with Avolent's strategic partnerships and the experience and culture of its employees, offers the potential to build a significant business."
Mike Seashols, Chairman of the Board and CEO of Avolent is well acquainted with Anthony's past successes. "The beauty of bringing Anthony on board is that he and many members of the Avolent team have worked together before to build businesses, said Seashols. "This makes a big difference in his value to quickly contribute to defining processes and strategies in helping manage our growth."
About Avolent
Avolent is the leading application software provider for Interactive Self-Service Electronic Billing and Payment for organizations that are implementing an eBusiness operating strategy. By leveraging Avolent software, organizations can improve customer service and satisfaction, reduce operating costs, increase revenues, accelerate cash flow, and enhance compliance. Three of the top five eBusiness companies in the world utilize Avolent software. Today, nearly 1,000 electronic bills are delivered every minute using the Avolent solution. Avolent customers include Penske, Office Depot, Do It Best, SingTel, Highmark, Xerox, Key Bank and two of the three largest PC suppliers in the world. For more information call (800) 553-5505 or visit www.avolent.com.