Tuesday, June 24, 2008

Sigma Partners announces new venture partner, Flanagan

By Mass High Tech Staff

Boston-based Sigma Partners has added former Storage Networks Inc. and VistaPrint USA Inc. executive Paul Flanagan as a venture partner.

Flanagan, who led both Lexington-based VistaPrint and Waltham-based Storage Networks from their earliest stages through multi-million initial public offerings, was previously an executive in residence at Sigma Partners.

At VistaPrint, Flanagan was executive vice president and CFO, leading the company through a $138 million IPO in 2005. Prior to VistaPrint, Flanagan held a variety of roles, including CEO, COO and CFO at Storage Networks, which went public in 2000.

As part of Sigma’s Boston office, he has been working with several of the firm’s portfolio companies, including Florida-based speech analytics company CallMiner Inc., New York-based mobile application developer Rave Wireless Inc. and Philadelphia-based home recycling rewards program developer RecycleBank Inc.

Flanagan will be based in Sigma Partners’ Boston office. The local team, which is led by managing directors Robert Davoli and John Mandile, is currently investing Sigma Fund 8, a $500 million fund raised in 2007.