Pallas Partners Provides Strategic Support
Pallas Partners today announced the completion of a $1 million capital raise for StarSat. LLC. StarSat, the latest addition to the growing client base of Pallas Partners, will use the funds to invest in its proprietary technology platform, expand its customer acquisition program, enhance its customer service programs and for working capital. Pallas will remain engaged as StarSat’s primary strategic advisor.
StarSat, whose primary business is Managed Video Solutions and Services, currently focuses on selling within the fast food restaurant industry. StarSat offers the preeminent monitoring system by tying video into the transaction register of its clients. This system enables StarSat to research transactions within stores by searching for undesirable activities. The overall result is a system that monitors the individual business coupled with StarSat support staff that interacts directly with clients to mitigate theft and improve operations. StarSat customers typically experience increased sales and profits; improved operations; as well as reduced liability, workers compensation and unemployment claim exposure. Typical client payback is less than one year after installation.
“The ability to complete a $1 million capital raise, with the help of Pallas Partners, will make a tremendous impact in the overall success and growth of our company,” said StarSat Founder and CEO Ken Anderson. “Pallas executives demonstrated an ability to walk us through the process with a high degree of professional expertise in their timing, abilities and overall results in acquiring this capital raise. Through Pallas, we acquired the capital and were introduced to Bonaire Software, a leading technology partner from out of the market. We would not have made the connection with Bonaire had it not been for Pallas Partners.”
Bonaire Software, a leading technology provider for many Fortune 500 companies, will build the new release of StarSat’s proprietary technology platform. “StarSat has a unique platform, and with our expertise in rules based engines, we are able to adapt and modify our components to fit the existing infrastructure,” said Kleber Gallardo, chief technology officer at Bonaire. “Based on this powerful combination, StarSat will be cutting edge in delivering services with the release of its next generation platform.”
“It is truly rewarding when we can help a company like StarSat achieve its goals and objectives,” according to Matthew Saltzman, CEO and managing partner of Pallas Partners. “We look forward to a long relationship with StarSat as they become the leading firm in delivering managed video solutions and services.”