NEWS5 October 2010

MR community firm Passenger nets $7.5m funding, names new CEO

Financials North America

US— Tech industry veteran Bahram Nour-Omid has led a $7.5m investment round in online research community firm Passenger, and taken over as the company’s CEO.

Existing investors Shelter Capital Partners (of which Nour-Omid is a partner) also contributed, along with StarVest Partners and Steamboat Ventures.

Former CEO Steve Howe has moved into the role of chairman.

Nour-Omid (pictured) said: “The additional funding will enable us to extend our product offerings and to further scale Passenger to meet increasing demand for deepening the role of private online community in market research efforts, and applying our technologies to other areas of business. I look forward to working with the company as it moves into this next phase of growth, building on the strong revenue foundation provided by existing customers.”

On his new role as chairman of the company, Steve Howe said: “My focus will be on company strategy and customer relationships. I’m confident that this new leadership, coupled with the incredible talent we have at the company, will help us continue to strongly grow our business.”