TOA Technologies gets $66 mln investment from TCV

JERUSALEM, July 16 Tue Jul 16, 2013 8:00am EDT

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JERUSALEM, July 16 (Reuters) - TOA Technologies, whose products make sure field employees get to the correct appointments on time, said on Tuesday it raised $66 million from Technology Crossover Ventures (TCV).

Proceeds of the funding round will go towards the company's continued expansion, the Israeli-led company said. TOA's field service management software is cloud based.

TOA had raised $35 million in previous funding from Draper Triangle Ventures, Early Stage Partners, Intel's Intel Capital and Sutter Hill Ventures.

TCV is a provider of capital to growth-stage tech firms. It has invested in companies such as Expedia, Facebook, Go Daddy, Groupon and Netflix.

(Reporting by Steven Scheer)

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