Edison Ventures Invests in Knowledge Delivery Systems Fuels Growth for Leading Provider of Professional Development in the K-12 Market

LAWRENCEVILLE, NJ, March 7, 2014 – Edison Ventures announces a $6 million investment in New York City-based Knowledge Delivery Systems (KDS). Edison led the financing alongside existing investors. The proceeds will be used to accelerate sales & marketing, expand the management team, increase product development and build out the company’s digital content offering.

KDS is a leading provider of professional development solutions for teachers in the K-12 market. The company’s on-line platform, coupled with best-in-class content, coaching and services, dramatically improves teacher know-how, effectiveness in the classroom and student results. Clients include some of the largest school districts in the United States such as Chicago IL, Philadelphia PA, Indianapolis IN, Austin TX and State of New Mexico.

Sever Totia, Edison Principal led the investment and noted, “We are excited to partner with a management team that has tremendous expertise in the K-12 education industry, to build the market leader in professional development for teachers. KDS’ proven solutions address a rapidly growing need in the K-12 market. The company has already established a clear leadership position in the space.” David Nevas, Principal who led Edison diligence added, “KDS’s platform is achieving impressive market acceptance and growth. Customers praised the quality, breadth, ease of use, and results.” Sever Totia will join KDS’ Board of Directors, along with Brian Madocks, Edison Director Network member.

“The financing comes at an inflection point in KDS’ trajectory and we are excited to enter this partnership. Edison’s knowledge from investing in the education market, coupled with operating experience, particularly in sales, marketing and channel development, are critical to accelerate our growth,” stated Alvin Crawford, CEO of KDS.  “With the challenges and initiatives faced by the K-12 market, effective professional development for teachers is a critical success factor and KDS’ platform addresses an essential client needs that remains underserved.”

Edison Ventures is actively investing from its seventh fund.  KDS marks Edison’s 21st investment in New York and is part of Edison’s Enterprise 2.0 portfolio. The Enterprise 2.0 industry segment includes investments in cloud, SaaS applications, infrastructure software, mobile and education technologies. Edison has invested in 13 Education Technology companies. Successful exits include Assessment Systems, MathSoft, Nobel Learning, Presidium, Skills Bank and TetraData. Current portfolio companies include Clearpoint, eChalk, Ontuitive and Regent. Other Enterprise 2.0 portfolio companies include: Uptivity, Tangoe, NSI, Motionsoft, Archive, PlumChoice, Fishbowl and SalsaLabs. Successful exits include: M5, Axent, Visual Networks, Vocus, Best Software, VirtualEdge, and POMS.

 

About Edison Ventures

Established in 1986 Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and strategic value-add to later stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.

Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH. Industry specialties include Financial Technology, Healthcare IT, Interactive Marketing and eCommerce and Enterprise 2.0. Edison’s successes include Best Software, Cambridgesoft, Dendrite, Gain Capital, Liberty Tax, M5, Magnetic, Marcam, Mathsoft, MediaBrix, Neat, NetProspex, Octagon, PlumChoice, Tangoe, Virtual Edge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $700 million and actively making new investments. For more information on Edison Ventures, please visit Edison Ventures and follow us on Twitter @edisonventure.

 

About Knowledge Delivery System (KDS)

Knowledge Delivery Systems (KDS) is a leading provider of online strategic professional development, state certification, master’s degree programs, and career advancement for teachers and administrators at every stage of their career. Hundreds of thousands of educators have taken online courses powered by KDS, classes that are research-based, practical, topical and aligned with requirements in all fifty states. KDS provides online access, 24/7 at your convenience, to courses taught by the nation’s leading experts. Our courses are built by leaders in education whose insight and methodologies have had significant impact on teacher effectiveness and student performance.   For more information visit www.kdsi.org.

21th Annual Enterprise Awards finalists named Top Technology, Life Sciences, MedTech, and CleanTech Companies and Entrepreneurs Vie for Enterprise Awards Honors

The Enterprise Awards honors entrepreneurial achievement in the Greater Philadelphia region at its gala on Thursday, May 8. An esteemed panel of judges has selected finalists in 11 competitive categories and one honoree for the 2014 Enterprise Awards from hundreds of nominations. Winners will be announced at the gala at the Valley Forge Casino Resort. Tables are being reserved now.

 

Legend Award for Lifetime Achievement

Sponsor: The Board of Directors of Ben Franklin Technology Partners of Southeastern Pennsylvania

RoseAnn Rosenthal
President, CEO, Ben Franklin Technology Partners of Southeastern Pennsylvania
Philadelphia, PA

RoseAnn Rosenthal has dedicated more than forty years of her career to business investment, regional planning, and economic development. Praised by regional leaders as an invaluable resource for the tri-state area, she has earned a strong international reputation with her development of innovative partnerships and extraordinary initiatives.

As President and CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), Rosenthal has significantly enhanced the organization’s investment, technology commercialization, and business service programs, creating initiatives that have brought the organization national and international recognition. With a current portfolio of more than 130 technology companies, BFTP/SEP continues to build upon its proven track record of seeding hundreds of southeastern Pennsylvania’s technology leaders across all areas of technology. Since 1983, BFTP/SEP has worked with more than 1750 regional technology enterprises, many of which have become leaders in the region’s growing technology sector, and has provided more $165 million in seed capital to companies that went on to raise billions of follow on capital.

Today, BFTP/SEP manages the investment of both public and private funds in emerging and growing technology enterprises. In addition, Rosenthal worked with BFTP partners across the Commonwealth and the Greater Philadelphia Alliance for Capital and Technology to secure passage of Innovate in PA, a new state initiative that will provide $85 million for early-stage investment.

Rosenthal served on the Economic Advisory Council of the Philadelphia Federal Reserve Board and is on the Boards of the Fox Chase Bank, the World Trade Center of Greater Philadelphia, and the Philadelphia Alliance for Capital and Technology. She is on the Advisory Committee of Emerald Stage2 Venture Fund and has served on numerous regional advisory committees focused on technology-based economic growth and entrepreneurship, including the America-Israel Chamber of Commerce, the Mayor’s Sustainability Advisory Board in Philadelphia, the Greater Philadelphia Life Sciences Congress, the Life Sciences Leadership Advisory Council, the Science Center’s Community Development Advisory Committee, and the Philadelphia Chapter of the national Network for Teaching Entrepreneurship. She is active at the national level with the State Science and Technology Institute and the National Venture Capital Association and was a Board member of the National Council for Urban Economic Development (now the International Economic Development Council). Rosenthal is also active in support of women leadership and is a member of Women Corporate Directors, the Pennsylvania Women’s Forum, and the Forum of Executive Women.

 

Game-Changing Healthcare Company

Sponsor: Independence Blue Cross

Criteria: Company must be providing an innovative solution that has the potential to make a large and positive impact on cost, quality, and/or access in healthcare.

Key Considerations: A demonstrated business model for its solution, the ability to demonstrate return on investment or clinical impact of its solution serving the healthcare industry in Greater Philadelphia and the ability to generate rapid growth.

Endo Health Solutions
Malvern, PA

Endo International plc is a global specialty healthcare company focused on improving patients’ lives while creating shareholder value.  Endo develops, manufactures, markets, and distributes quality branded pharmaceutical, generic and device products through its operating companies. The organization’s global headquarters are based in Dublin, Ireland, and operates a US headquarters office in Malvern, PA.

Health Advocate
Plymouth Meeting, PA

Health Advocate is the nation’s largest healthcare advocacy and assistance company, serving more than 8,500 clients and more than 30 million people. The company offers integrated advocacy and complementary solutions, all supported by proprietary technology. Health Advocate help employers, organizations, and individuals and their families save time and money by tackling real work/life relating to a variety of healthcare and insurance issues.

RightCare Solutions
Horsham, PA

RightCare Solutions is a medical technology company that provides the most academic, innovative, and predictive software for risk stratifying any patient at admission. The company’s proprietary technology was developed through a decade of research conducted at the University of Pennsylvania School of Nursing is the only medical software focused on healthcare transitions using a unique algorithm that enables continuous point-of-care decision support, optimizes workflow, and dramatically improves post-acute care transitions.

 

Emerging Life Sciences Company Finalists

Sponsor: Fesnak LLP

Criteria: Company must have more than 3 years of operating results. Must have sales, grants, or licensing fees.

Key Considerations: Describe product, including proprietary applications or other advantage. What animal or OUS clinical work has been done to prove the technology? Describe the impact on the clinical problem this technology is trying to solve (e.g. saving a hospital money on a procedure, making a clinician more productive, etc.)

Address strength of management team including ability to raise capital, and profitability or demonstrated ability to achieve profitability (e.g., strategy to achieve break even, ability to realize high gross margins) or decisions that led to corporate collaborations or license deals.

Onconova Therapeutics
Newtown, PA

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel small molecule drug candidates to treat cancer. Using a proprietary chemistry platform, Onconova has created an extensive library of targeted anti-cancer agents designed to work against specific cellular pathways that are important in cancer cells, while causing minimal damage to normal cells. Its lead candidate is in Phase 3 clinical trials.

Trevena
King of Prussia, PA

Trevena is a clinical stage pharmaceutical company focused on discovering and developing the next generation of G protein coupled receptor (GPCR) targeted medicines. GPCRs are the targets for more than 30% of all currently marketed therapeutics, yet there is significant potential to enhance the therapeutic properties of such molecules. Trevena’s expertise lies in developing “biased ligands” that activate only the beneficial signaling pathways downstream of a GPCR to unlock new biology and avoid drug adverse effects.

UE LifeSciences
Philadelphia, PA

UE LifeSciences (UELS) develops non-radiological and affordable breast cancer detection tools. In developed countries, UELS products are used to complement mammography-led screening in women with dense breasts and women at high risk for breast cancer. In emerging economies, UELS is helping to develop a new model with tools that are operable by health-workers and primary care physicians to enable screening. Currently UELS has two products in its portfolio, NoTouch BreastScan and iBreastExam.

 

Life Sciences Startup Company Finalists

Sponsor: University City Science Center and University of Pennsylvania

Criteria: Company must have operating results of three years or less.

Key Considerations: Discuss product innovation including market need/assessment and potential for significant growth; discuss management team and its ability and record of achieving success; provide demonstration of success (e.g., significant milestones, raising capital, revenue, etc.). Describe the R&D investment strategy. What did the company do to overcome challenges in financing, development or commercialization?

Aclaris Therapeutics
Malvern, PA

Aclaris Therapeutics is a development-stage specialty pharmaceutical company focused on identifying, developing, and commercializing novel topical dermatological technologies. The lead Aclaris candidate is in Phase 2 clinical trials and is being developed as a topical treatment for Seborrheic Keratoses and other verrucous skin disorders. Aclaris is also evaluating equally promising assets that are in various stages of preclinical and clinical development.

Micro Interventional Devices
Langhorne, PA

Micro Interventional Devices is an emerging medical device company that designs, manufactures, and commercializes disruptive technologies enabling percutaneous and minimally invasive structural heart repair. The company’s proprietary technology is based on a breakthrough in soft- tissue anchoring and tissue approximation that enables off-pump procedures. To the 60 million people suffering from aortic valve disease each year, this device is less invasive, more cost efficient, and provides for a more rapid recovery.

Spark Therapeutics
Philadelphia, PA

Spark Therapeutics is a late-stage gene therapy company developing potentially curative, one-time treatments to transform the lives of patients and re-imagine the treatment of debilitating diseases. Spark’s Phase 3 program to treat RPE65-related inherited retinal dystrophy has the potential to be the first gene therapy approved in the US. The company’s pipeline includes treatments to address other inherited retinal dystrophies, hematologic disorders, and diseases of the central nervous system.

 

MedTech Leadership

Sponsor: Comcast Business Services

Criteria: Describe individual’s management accomplishments and philosophy, including the communication of a vision and goals as achieved by the company; leadership and impact in industry and/or market; ability to attract and retain talented resources; company milestones including financial accomplishments, and a strategy for continued company success; and community/industry involvement. Extra consideration is given to leaders who have contributed more broadly to the strengthening and promotion of the medical device industry in the region.

Bioconnect Systems
Ambler, PA

Bioconnect Systems is a clinical stage company pioneering new methods for performing small vessel surgical connections (anastomoses). Bioconnect’s lead products are the Optiflow and Optigraft implants that create controlled surgical connections in vessels or synthetic vascular grafts. Results from three clinical studies performed outside the U.S. are highly encouraging. Under CEO Adam Dakins leadership, the company will initiate the US clinical trial required for FDA clearance during 1Q14.

Fibrocell Science
Exton, PA

Fibrocell Science is the scientific leader in autologous fibroblasts, the most common cells in connective tissue. Utilizing its autologous fibroblast cell technology, Fibrocell creates personalized biologics from a patient’s own cells to treat rare skin and connective tissue diseases. Under CEO David Pernock’s leadership, the company is focused on breakthrough regenerative medical applications of azficel-T for restrictive burn and vocal cord scarring, genetically modifying fibroblasts to treat orphan skin diseases, and localized treatment of psoriasis.

Pentec Health
Boothwyn, PA

Pentec Health is the nation’s leading, privately held specialty pharmacy focused on providing innovative and proprietary nutritional therapies for patients suffering from chronic renal failure and highly complex therapies for chronic pain management and spasticity. Under CEO Joseph Cosgrove’s leadership, Pentec’s Proplete has addressed the nutritional needs of 800,000 renal-impaired patients, accounting for 85% of the market share in the end-stage renal disease segment nationwide.

 

Technology Company of the Year Finalists

Sponsor: Safeguard Scientifics

Criteria: Company with more than $50 million in revenues in the most recently completed fiscal year.

Key Considerations: Leadership and product and/or service innovation in an industry or market; significant company milestones including financial accomplishments; and community and industry involvement.

iPipeline
Exton, PA

iPipeline leads its industry in providing the next-generation suite of software to the insurance carriers, distributors, and producers through its on-demand service. iPipeline’s solutions automate CRM, forms distribution and processing, quotes and illustrations, e-Applications, agency management, data services, policy delivery, and services—enabling the insurance industry to market, sell, and process faster. iPipeline provides the process automation and integration needed to make a sale by aggregating 125 carriers, 1,200 distributors, and their financial professionals.

Qlik
Radnor, PA

Qlik is a leader in Business Discovery—user-driven business intelligence technology—revealing meaning in data so people can act on it. The company’s QlikView platform uses natural analytics to support the way human curiosity naturally searches and processes information, revealing insights and enabling decisions. From small businesses to the largest global enterprises, QlikView gives users the immediate insights they need and IT professionals the enterprise manageability and governance they require.

SevOne
Wilmington, DE

SevOne provides the world’s fastest, most scalable performance monitoring platform to the world’s most connected companies. Delivered as an all-in-one appliance that detects and alerts on performance events before they impact the business, SevOne developed a next-generation technology that incorporates distributed computing to address any scalability concerns. SevOne monitors millions of objects across multiple technologies in a single view, enabling users to quickly pinpoint emerging problems anywhere within their IT infrastructure.

 

Technology CEO of the Year Finalists

Sponsor: Cozen O’Connor

Criteria: Individual’s background and his or her company’s success to date.

Key Considerations: CEO’s management accomplishments and philosophy, including the communication of a vision and goals as achieved by the company; leadership and impact in the industry and/or market; ability to attract and retain talented resources; company milestones including financial accomplishments and a strategy for continued company success; and community and industry involvement.

Tim Kowalski, Halfpenny Technologies
Blue Bell, PA

Halfpenny was the first company to develop a robust clinical data exchange platform, solving the interoperability challenge not only for labs and providers but also health plans, health information exchanges, clinics, and government entities. In just two years as President and CEO, Tim Kowalski improved the company’s cash position, accelerated its growth, and improved its profitability, positioning the company as today’s market leader.

Eileen Martinson, Sparta Systems
Hamilton, NJ

Sparta Systems is an industry pioneer and leading global provider of enterprise quality management solutions, enabling businesses to safely and efficiently deliver their products to market, preventing costly recalls. Under the leadership of CEO Eileen Martinson, an enterprise software industry veteran, Sparta has launched industry-leading enterprise quality and compliance management solutions in analytics and mobility as well as a revolutionary cloud based supplier quality management system.

William Marvin, InstaMed
Philadelphia, PA

Under the leadership of CEO William Marvin, InstaMed is the leading payments network for the healthcare industry today. With its bank partners, InstaMed moves billions of dollars and information on its single integrated network, connecting thousands of hospitals, practices, and payers and millions of patients for business. InstaMed’s innovative private cloud technology transforms the healthcare payment process by delivering new levels of payment assurance, simplicity, convenience, and cost savings to the healthcare industry.

 

IT Innovator Award of Excellence Finalists

Sponsor: LiquidHub

Criteria: Identify a technology leader responsible for the business or enterprise stakeholders who have benefitted from applied new or existing technology in a unique or innovative way to solve a business problem or advance business goals.

Key Considerations: Company must demonstrate success in applying and/or integrating new or next-generation technology (e.g. mobile, business intelligence, process automation) in a unique or innovative application. This can include an invention or early adoption of next-generation technology either for internal utilization or commercial application. The nomination should outline key components and most important contributions the information technology has made to the organization, its industry, or the community it serves.

McKesson Health Solutions
King of Prussia, PA

McKesson Health Solutions delivers industry-leading clinical evidence and expert technology to help payers and providers collaborate for better healthcare outcomes at lower costs. The McKesson portfolio includes decision-making solutions, network management and claims management tools, and financial solutions to optimize billing. Today, the company is one of the leading technology companies in the payer market, with solutions if more than four out of five payers in the country.

Mobiquity
Wayne, PA

Mobiquity is a mobile engagement provider creating innovative solutions that drive business value. Because mobile is in the company’s DNA, clients benefit from Mobiquity’s blend of three key disciplines of mobile computing: strategy, user-centered design, and core technology. In just three years, Mobiquity has worked with industry leaders CVS, Fidelity Investments, MetLife, the New York Post, Putnam Investments, The Boston Globe, The Weather Channel, and Weight Watchers.

RevZilla
Philadelphia, PA

RevZilla.com is a global eCommerce retailer providing motorcycle enthusiasts with premium apparel, accessories, and parts for any riding adventure. With an award-winning customer experience powered by a proprietary technology platform, original content, and a community of moto-enthusiasts, RevZilla.com is the premiere online destination for riders worldwide. The company’s seamless technical platform, largely devoid of outside vendors, emphasizes customer-centric, scaled business processes including customer experience, order processing, video commerce, and warehouse fulfillment.

 

Emerging Technology Company Finalists

Sponsor: ICG

Criteria: Company must have at least four years of operating results. Revenues must be less than $50 million, except in the most recent fiscal year.

Key Considerations: Product or service innovation, including proprietary technology or other advantage; company milestones including strategic decisions made by management that led to growth in revenues and/or earnings; strength of management team including ability to raise capital; and profitability or demonstrated ability to achieve profitability such as strategy to achieve break even and the ability to realize high gross margins.

CenTrak
Newtown, PA

CenTrak develops real-time location systems (RTLSs) and environmental monitoring solutions that are deployed at hundreds of healthcare facilitates around the world. Using a proprietary hybrid technology of active-RFID and second-generation infrared, these solutions are used for asset tracking/management, patient/staff locating, temperature monitoring, hand hygiene compliance monitoring. Having this improved visibility enables the automation of key business processes including nurse call, bed management, nurse rounding, and perioperative workflow.

Greenphire
King of Prussia, PA

Greenphire is the leading provider of payment technologies for clinical trials. Greenphire’s portfolio of advanced web-based payment solutions help customers improve operational efficiency, reduce costs, mitigate regulatory risks, increase subject retention and compliance, and produce quantifiable results that have transformed the clinical payments process for all parties involved. With Greenphire’s system, research participants can receive reimbursements electronically through a branded debit card system and sponsors can automate payments to investigators.

Health Market Science
King of Prussia, PA

Health Market Science (HMS) helps healthcare organizations solve business challenges centered on healthcare provider information using a proprietary big data technology platform. HMS assists clients in complying with evolving federal and state laws, reducing operational costs, and maximizing market opportunities. HMS offers robust solutions based on the most comprehensive provider database, including healthcare providers, healthcare organizations, and their affiliations, coupled with the largest medical claims database in the US.

 

Technology Startup Company Finalists

Sponsor: Ben Franklin Technology Partners of Southeastern Pennsylvania and Pepper Hamilton

Criteria: Company must have operating results of three years or less.

Key Considerations: Product or service innovation including market need or assessment and potential for significant growth; the management team and its ability and record of achieving success; and a demonstration of success such as significant milestones, raising capital, and revenue.

Clutch
Ambler, PA

Clutch offers a next-generation platform of consumer engagement, providing loyalty, rewards, gifting, and mobile commerce for consumer-focused retailers and brands. Clutch offers a comprehensive set of modular solutions to drive loyalty, increase consumer spend, and reward brand advocacy by unifying the currently fragmented consumer experiences, wherever customers are – in-store, online, and through mobile and social channels. By delivering consistent and relevant experiences across all engagement and buying channels, the company creates brand advocates.

Hoopla
West Chester, PA

Hoopla’s cloud-based software helps sales organizations inspire and motivate team performance. Hoopla’s award-winning platform makes it easy for managers to quickly create sales contests and broadcast performance updates on live leaderboards that can be displayed on any TV, mobile, or computer screen. Using Hoopla, industry leaders like Angie’s List, GM Financial, The Sacramento Kings, Tumblr, and Zillow are building high-performance cultures that deliver dramatic gains in sales productivity and customer satisfaction.

PeopleLinx
Philadelphia, PA

PeopleLinx turns employees into social marketers by transforming LinkedIn from a branding risk to a marketing opportunity. These cloud-based solutions help employees optimize their profiles, build relevant networks, and engage their connections with targeted content. Customers include Fortune 500 leaders in banking, insurance, legal, high-tech, and professional services. The PeopleLinx platform employs gaming dynamics and leader boards to drive employee participation and engagement to better utilize social media on an enterprise scale.

 

CleanTech Company of the Year Finalists

Sponsor: Morgan Lewis & Bockius

Criteria: Companies must have a Clean Tech focus, for example: solar, wind, geothermal, biofuels, nuclear, energy storage, pollution abatement, recycling, clean coal, water technologies, etc.

Key Considerations: Describe company’s concept, innovative features of new products or services, describe positive impact on environment /sustainability.

Sanosil International
New Castle, DE

Sanosil International is a manufacturer of innovative, environmentally preferred micro-biocides for broad spectrum disinfection and microbiological control. Sanosil’s portfolio is based on a patented and unique combination of hydrogen peroxide and ionic silver that remove the barriers of high cost and complexity to deliver simple, effective, and safe disinfecting solutions. Applications include drinking water, wastewater, and water treatment and for environmental surface disinfection treatment in the healthcare, life sciences, and mold remediation markets.

Solar Grid Storage
Philadelphia, PA

Solar Grid Storage is the leading pioneer in solar storage deployment. This groundbreaking business model enables batteries to be added to commercial solar photovoltaic (PV) installations while lowering costs. The company’s systems replace standard inverters with dual-use inverters. This lowers costs and delivers new benefits, including emergency power, enhancing PV system value with no additional cost to host customer and ultimately resulting in a more resilient grid.

Versify Solutions
Glen Mills, PA

Versify Solutions develops leading software and services for power industry professionals who demand a constant flow of data to efficiently navigate an increasingly dynamic sector. Versify products offer energy traders and generators better information, empowering them to perform at the highest levels. Utilized by some of the world’s largest energy companies and trading desks, Versify’s unique portfolio of analytical applications and services provide key insights into Smart Grid, generation performance, NERC compliance, and trading market opportunities.

 

Investment Deal of the Year

Sponsor: Grant Thornton and Broadpath

Criteria: Events that qualify for this category include the following: Exit transactions, Capital Raising transactions, Merger & Acquisition transactions, (Buy-side or Sell-side), New Business Development agreements, and New Strategic Alliance agreements.

Key Considerations: Entries must include: Brief history/background to deal, financial breakdown/deal mechanics, Reason for submitting. Discuss value to sponsor’s shareholders and/or commercial strategy, innovation and contribution to market development.

Return on Intelligence
Philadelphia, PA

Return on Intelligence delivers innovative consulting, systems integration, and commercial software engineering solutions. In June, Return on Intelligence merged with Exigen Services, a 1300-person IT services firm in San Francisco with offices in Russia, Lithuania, Latvia, and China. Exigen’s investors approved the transaction because after a decade of tepid growth, the team from Return on Intelligence brought a strategy and history of execution that would give them the best chance to capitalize on their investment.

Safeguard Scientifics
Wayne, PA

Safeguard has a distinguished record of building market leaders by providing capital and operational support to entrepreneurs across an evolving and innovative spectrum of industries. Safeguard partner company, ThingWorx, offering the first platform designed to efficiently build and run the applications of today’s connected world, was acquired by PTC Inc. in December for $112 million. This exit represents a potential 4.7x cash-on-cash return to Safeguard.

Zonoff
Malvern, PA

Zonoff provides comprehensive wireless technology and commerce solutions to channel partners who deliver connected-home products and services to the consumer mass market. Zonoff’s modular, cross-technology approach delivers best-of-breed home automation, remote control, energy management, and safety monitoring. In April 2013, Zonoff raised $3.8 million, which will be used to scale the Zonoff technical team and infrastructure to support ongoing customer growth with retailers, including Staples, as well as with service providers and device makers.

Phorum 2014, to be held April 10 during Philly Tech Week, has powerful list of headliners

Philadelphia’s Phorum 2014, hosted by PACT (The Greater Philadelphia Alliance for Capital and Technologies), and sponsored by investment bank Fairmount Partners and technology integrator LiquidHub, will take place on Thursday, April 10 at World Cafe Live, for the first time as part of Philly Tech Week.

The conference, which is probably Philadelphia’s premier tech event targeted towards top level enterprise management, has varied and in some ways broadened its theme in each of its three years. This year’s theme, “Increasing Customer Engagement in a Digital World”, encompasses not only social, customer relationship management (CRM) and mobile, but all means used by enterprises to connect and interact with customers in the digital world.

While customer engagement continues to be a top priority for CMOs with over 70 percent of
respondents listing it as their top business challenge that they need to address, a recent survey conducted by PACT Phorum in late 2013 revealed that the issue is increasingly gaining traction with CTOs and CEOs. According to the survey, 38 percent of CTOs and 33 percent of CEOs also concur that customer engagement represents the top technology challenge they need to focus on in 2014.

The list of keynote speakers is impressive. Salesforce.com VP and Head of Platform Research Peter Coffee, a leading Salesforce evangelist, will be making his third since this is his third consecutive appearance at Phorum as its MC.

David Pogue, technology columnist formerly with the New York Times and now
with Yahoo and NOVA ScienceNow; Aneesh Chopra, who served as the first U.S. Chief Technology Officer and just yesterday was named an advisor to Box to help develop its healthcare IT strategy; Dan Hilferty, President and CEO, Independence Blue Cross who has been a leader in expanding the healthcare IT landscape in the region; and Maggie Fox, Senior Vice President of Digital Marketing at SAP and a leader in social media, are the other key speakers.

Functionally, an emphasis of the conference will be not to simply focus on the rising influence of the Chief Marketing Officer (CMO) as a key decision-maker in many tech buying decisions, “but on the importance of the CMO [and other functional chiefs] working with the CIO”, said Suzanne Lentz, Vice President of Marketing, LiquidHub, Inc. and a member of the Phorum 2014 Advisory Board in a phone interview. Though the rapid adoption of a stand-alone functional app can be attractive, any large-scale projects requiring integration of corporate systems and data will need more coordination.

A recent Forrester survey tends to confirm this need. More than half of CMOs see their relationship with the CIO as essential, up from 30% in 2011.

An interesting feature will be a “Fireside Chat” between Salesforce’s Coffee and SAP’s Fox discussing the challenges and opportunities their clients have faced in moving beyond simple outreach to creating real engagement with customers.

Other discussion panels will cover subjects such as “Mobility as an enabler” and “Turning
Big Data into action.”

One of the most popular features of Phorum has been the Demo Pit, which features early stage digital technology ventures generally based in the Philadelphia area. Past selections for “Best in Show” included PeopleLinx and one acquired by Artisan Mobile.  Participants will be named in early April.

The day kicks off at 7am with a continental breakfast.

The conference will close with Cocktails (free beer) & a Network Reception with live music. Price points are $199 for PACT Members and $249 for non-members.

UST Global Steps Up STEM Training for Women

According to a US Commerce Department study, STEM job creation over the next 10 years will outpace non-STEM jobs significantly, growing 17 percent, as compared to 9.8 percent for non-stem positions. President Obama has come out in support of STEM, saying that tomorrow’s leadership depends on how we educate our students today. The same study concluded that people in STEM fields can expect to earn 26 percent more money on average and be less likely to experience job loss. The STEM degree holders also tend to enjoy higher earnings overall, regardless of whether they work in STEM or non-STEM occupations.

President Obama’s call for a cohesive national strategy to support education in STEM, has received an overwhelming response from companies across the country.

UST Global has welcomed this call by creating a one-of-a-kind program called Step IT Up America, a nationwide initiative to train and hire 5,000 minority women. UST Global’s initial commitment is to train 1,000 minority women across 10 of the nation’s largest cities in STEM fields by the end of the year. The larger goal is to train and employ 5,000 minority women by 2020.

Step IT Up America is funded by UST Global with the objective of advancing minority women in technology jobs by providing a vital formula to recruit, train and employ them. Women interested in the program can be non-degreed individuals who are looking to make a change in their lives. With the infrastructure created by UST Global, these women can develop technological skills that will launch them into successful IT careers.

The program has successfully launched in three cities to an enthusiastic audience. In Atlanta, Philadelphia on January 21st 2014, and most recently on March 11th 2014 in Detroit, representatives from Fortune 500 corporations, educational institutions, and governmental agencies participated and served as speakers at the events. UST Global has already begun training two batches of students in Atlanta, and will soon begin training students in Philadelphia and then Detroit, followed by the remainder of the ten cities in which Step IT Up America will be launched in 2014.

Another aspect to the shortage of overall STEM jobs is that women and minorities are under-represented in the IT field. While minorities represent 36% of the workforce, their participation in the IT sector is less than 3%. Only 1 in 14 technical employees in the tech hub of Silicon Valley, for example, is African American or Latino. Fewer than 4% of Black and Latino students even study computer science, and of the graduate enrollment in Computer Science, African-American women only represent 4.8%. That is a profound gap. To make sure that women and minorities are not excluded from these well-paying IT jobs, we have to break this cycle.

UST Global’s strategic plan is to find minority women around the country who want to make a change in their lives. While the immediate goal of this program is to profoundly affect the lives of these women by offering them an opportunity to find successful careers, their lives in turn will affect others: the communities they come from today, and the generations to come in the future.

Potential students must have a GED or High School Diploma with a graduating GPA of 3.0 or higher, can be currently enrolled in a community college, or have completed 6-10 college units. These women need to have knowledge of basic computer functions and be available for the 12-week on-the-job training. The women will be able to choose from four tracks to find their right fit where there are entry level jobs available. These tracks are Quality Assurance (QA)/Testers, Business Analysts (BA)/Visualization, Programmers, and Help Desk. No job experience is required.

About UST Global
UST Global is a leading provider of end-to-end IT Services and Solutions for Global 1000 companies. Established in 1998 and headquartered in Aliso Viejo, California, UST Global has operations in USA, India, Mexico, Spain, UK, Malaysia, Philippines, and Singapore. UST Global is a technology leader with profound domain expertise across the following industries: Healthcare & Insurance, Retail, Financial Services, Transportation & Logistics, Manufacturing & Automotive, Telecommunication and Media & Entertainment. By focusing on the business model of ‘fewer CLIENTS, more ATTENTION’, UST Global strives for excellence in providing their clients with the best service and commitment to long-term client success. With 14,000 employees, UST Global’s growth and clientele have been impressive. Please visit www.ust-global.com for more information.

New Member Joins PACT Board of Directors

PACT has added a new member to its Board of Directors: Zachary Klehr, EVP

Franklin Square Capital Partners.  Klehr replaces Franklin Square Capital Partners Managing General Partner Michael Forman, who served on PACT’s Board and Executive Committee since the April 2010 merger between Eastern Technology Council and MAC Alliance.

Zachary Klehr is the Executive Vice President of Product at Franklin Square Capital Partners focusing on product development, portfolio management, fund operations, product strategy, communication and positioning for the company and its investment products.

Prior to joining Franklin Square, Mr. Klehr was a Vice President at Versa Capital Management, a private equity firm with approximately $1 billion in assets under management. At Versa, he sourced, underwrote, negotiated, structured and managed investments in middle-market distressed companies, special situations and distressed debt. Prior to Versa, Zach spent five years at Goldman, Sachs & Co. starting as an analyst in the Investment Banking Division, then in the Executive Office working on firm-wide strategy covering hedge funds and other complex multifaceted clients of the firm. Later, he joined the Financial Sponsors Group as an Associate where he worked on leveraged buyouts, acquisitions and equity and debt financings for Goldman Sachs’ private equity clients.

Mr. Klehr received his MBA degree with honors from the Wharton School of the University of Pennsylvania and his BA degree (cum laude), also from the University of Pennsylvania. He is active in his community and serves on the Board of Trustees of The Philadelphia School where he is a member of the Executive, Governance, Advancement, Finance and Investment committees.

PACT is led by a team of volunteers from across all industry sectors. The Board of Directors works to guide the vision and direction of the organization with representation from every constituency that contributes to the region’s economic growth.

KnowledgeBank surveys technology company salaries, incentives and total cash compensation for key positions

Report also covers data on HR practices and flexible benefits

The findings show employer expenses continue to rise for compensation and benefits, but at a modest rate.

Mid-Atlantic Salary Survey Projects 2014 technology company salary adjustments will average slightly less than 3.0%

By Steven A. Rosenthal, Vice President, Compensation, KnowledgeBank

The summary report for the 2013-2014 KnowledgeBank Total Compensation Survey of Mid-Atlantic Technology Companies is now available.

The size of average actual salary adjustments decreased to 2.2% from last year’s 3.2% actual average, and continues well below the 4.2% average increase in 2008.  For 2014, survey participants projected an average salary adjustment rate of 2.9%.  This was the fifth year in a row that the actual average increase was less than the projected increase.

The survey is co-sponsored as a member service by regional technology councils and other membership-based organizations that serve the technology sector in Virginia, Maryland, the District of Columbia, West Virginia, Pennsylvania and New Jersey. KnowledgeBank, Inc., of Ashburn, Va., is a leading provider of human capital management, organizational effectiveness, human resource management and consulting services to the commercial, nonprofit and government sectors.

The survey collected data from 60 firms with total employment of 28,444 and incumbent pay data for 1,461 employees. The survey respondent median revenue was $6.0 million and the median staff size was 41 employees, and nearly 75% of the companies had annual revenue of less than $20 million, reflecting a comprehensive set of total compensation and human resource data for primarily privately-held small- to medium-sized firms.

“Overall survey participation this year remained at the same level as last, and we continue to receive feedback from  participants that the compensation and benefits data collected is unique, particularly for small to mid-size firms” said Steve Rosenthal, Vice President & Compensation Practice Leader for KnowledgeBank. “We  continue to enhance the survey each year, without fundamentally changing the core focus of providing critical pay data for technology jobs.”

Benchmark Job Information

The 2013-2014 summary report provides data on base salary, cash incentive, and total cash compensation for 44 key positions; with data provided for companies with revenue of less than $10 million, companies with revenue between $10 and $49 million, companies with revenue greater than $50 million, and in total.

The five most popular jobs benchmarked this year (and the average salary reported) were:

  1. Senior Software Developer/Engineer –  $98,00
  2. Software Developer/Engineer – $72,600
  3. Program/Project Manager – $104,800
  4. Senior Engineer – $111,400
  5. Technical Support Specialist. – $52,600

Executive Incentives

Executives are provided the opportunity for annual bonuses in 70% of the responding companies, 35% of the firms provide executives stock options, and 22% of the firms provide them with annual incentives. The number of companies providing short term incentives remained about the same as last year, while stock options grants increased and restricted stock granted decreased from last year. These and other short and long term incentive awards that are offered to employees appear in the survey by employee level.

Benefits and Flexible HR Policies

Nearly all  survey participants (98%) provide health care coverage for employees and/or families, and cost sharing between the employer and employee continues to shift to the employee. In 2013, employees contributed 20% of the total cost (vs. 18% in 2012) for single coverage (vs. 18% in 2012) and 38% of the total cost  for family coverage (vs. 36% in 2012).

Other common benefits provided to 80% or more of full-time employees include vision care, 401(k) retirement savings, dental care, and prescription drug coverage. Additional employee benefit plan practices are contained in the survey report.

The survey findings also revealed that responding companies embrace flexible human resource practices in a challenging marketplace to recruit and retain staff: 87% provide flexible work schedules, 85% encourage casual dress, 62% provide special recognition awards, and 60% provide telecommuting. The complete list of HR Practices is in the report.

In addition, this year’s survey reported on the continuing shift from a traditional leave package (separate vacation and sick time) to paid time off (PTO). Over 60% of the companies in the survey now offer PTO.  In addition the survey reports on health care plans, waiting periods, company paid holidays and wellness plans.

Included in the report is an article written by Shiv Krishnan, President of INDUS Corporation, a nationwide Federal IT Solutions firm, who discusses the outlook for the Mid-Atlantic technology sector in 2014.

A copy of the summary report is available for purchase at www.knowledgebank.us.com.

About KnowledgeBank

KnowledgeBank, based in Ashburn Virginia, is a leading provider of human capital management, organizational effectiveness and learning solutions to organizations in the commercial, nonprofit and government sectors. Our clients include small and emerging growth technology companies, middle-market and Fortune 500 firms, Federal agencies, state and local governments and nonprofit organizations. We specialize in services that cover the entire spectrum of human capital management and organizational effectiveness to include compensation and rewards systems, benefit program design and analysis, recruitment and selection, performance management, strategic planning, organizational and personnel assessment, change management and transformation, human resource (HR) management, training and employee development, executive and career coaching and mentoring, leadership development, workforce planning and survey design and administration.

KnowledgeBank was selected by Inc. magazine to its list of fastest growing companies in America in 2007 and 2008, and has been recognized by Washington SmartCEO Magazine as one of the fastest growing companies in the Greater Washington region from 2007 – 2009. In 2008, the United States Department of Agriculture’s Farm Service Agency honored KnowledgeBank with its Small Business Contractor of the Year Award.

Fiberlink Acquired by IBM Edison Exits Enterprise Mobility Management Solution Provider

LAWRENCEVILLE, NJ, January 17, 2014 – Edison Ventures announced that IBM (NYSE:IBM) acquired Fiberlink, based in Blue Bell, PA.

Fiberlink’s MaaS360 cloud-based platform enables organizations to share, secure and manage information for smartphone, tablet, laptops and other mobile device users.  According to IBM, “Fiberlink’s MaaS360 offering expands IBM MobileFirst solutions with new cloud-based capabilities to deliver a comprehensive mobile management and security solution for global organizations of all sizes. This acquisition supports IBM’s expanding vision for enterprise mobility management, which encompasses secure transactions between businesses, partners and customers.”

Jim Sheward, Fiberlink co-founder and former CEO, commented, “In addition to a wicked wit, Ross Martinson provided a valuable blend of principled pragmatism, patience and wisdom.  I appreciated the entire Edison team and their significant contribution to the company and to me personally.”

Edison Partner Ross Martinson said, “The Fiberlink management team has been a delight in executing as superior managers and thinking like directors.  Management anticipated a fast-moving mobile industry to generate excellent strategic and operating performance.”

“We are grateful to Jim and the entire Fiberlink management team who combined domain expertise and consistent execution to build a market leader”, commented Chris Sugden Edison Managing Partner.

Edison invested and guided more than 175 private companies, including 45 Enterprise companies.  Noteworthy exits include Assessment Systems, Axent, InSoft, Marcam and VirtualEdge.  Current Enterprise portfolio companies include Billtrust, Kemp Technologies, MotionSoft, NSi, Operative and VFA.  Among 45 Pennsylvania private companies, investment successes include E-Transport, Liberty Technology, Neutronics, Nobel Education, SubMicron, Thermacore and TrueCommerce.

About Edison Ventures

Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies.  Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses.  Initial investments range from $5 to 10 million.  Edison typically serves as sole or lead investor.  In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.

Edison’s investment professionals are based in Lawrenceville, NJ, New York, NY, McLean, VA, Needham, MA, and Cleveland, OH.  Industry specialties include Healthcare IT, Financial Technology, Interactive Marketing & eCommerce and Enterprise 2.0.  Edison’s successes include Best Software, Dendrite, Gain Capital, Liberty Tax, Mathsoft, Neat, Tangoe, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion.  Edison Ventures currently manages over $700 million and is actively making new investments.  For more information on Edison Ventures, please visitwww.edisonventures.com and follow us on Twitter @edisonventure.

About IBM MobileFirst

As the first new technology platform for business to emerge since the World Wide Web, mobile computing represents one of the greatest opportunities for organizations to expand their business. Based on nearly 1,000 customer engagements, more than 10 mobile-related acquisitions in the last four years, a team of thousands of mobile experts and 270 patents in wireless innovations, IBM MobileFirst provides the key elements of an application and data platform with the management, security and analytics capabilities needed for the enterprise. To learn more about IBM MobileFirst solutions visit the press kit or http://www.ibm.com/mobilefirst. Follow@ibmmobile on Twitter, and see IBM MobileFirst on YouTubeTumblr and Facebook.

To learn more about IBM security solutions, visit: http://www.ibm.com/security

To learn more about IBM Cloud and Smarter Infrastructure solutions, visit: http://ibm.co/cloudsi

About Fiberlink

MaaS360 by Fiberlink is the trusted enterprise mobility management solution to customers worldwide — from Fortune 500 companies to small businesses. We make working in a mobile world simple and safe by delivering comprehensive mobile security and management for applications, documents, email and devices. Instantly accessible from the web, MaaS360 is easy to use and maintain and provides the flexibility organizations need to fully embrace mobility in every aspect of their business. Backed by the most responsive support in the industry, we put our customers first by providing them with the best user experience for IT and employees. Fiberlink is headquartered in Blue Bell, Pennsylvania. To learn more, go to http://www.maas360.com.

 

Completed Transaction Announcement: NGL Energy Partners; Pacific Coast Oil Trust; Genesis Energy, L.P.; Rose Rock Midstream, L.P.

Joseph D. Culley Jr. | Managing Director
Head of Infrastructure Group
[email protected] | (215) 665-6256

September 20, 2013 – NGL Energy Partners, (NYSE: NGL) announced the completion of an underwritten public offering of 4,100,000 common units at a public offering price of $32.38 per unit, before underwriting discounts. NGL also granted the underwriters a 30-day option to purchase up to 615,000 additional common units. Janney served as a co-manager on this transaction.

September 19, 2013 – Pacific Coast Oil Trust, (NYSE: ROYT) announced the completion of an underwritten public offering of 13,500,000 common units at a public offering price of $17.10 per unit, before underwriting discounts. Pacific Coast also granted the underwriters a 30-day option to purchase up to 2,025,000 additional common units. Janney served as a co-manager on this transaction.

September 11, 2013 – Genesis Energy, L.P. (NYSE: GEL) announced the completion of an underwritten public offering of 5,750,000 common units at a public offering price of $47.51 per unit, before underwriting discounts. The 5,750,000 units include 750,000 units purchased pursuant to the underwriters’ full exercise of their over-allotment option. Janney served as a co-manager on this transaction.

August 13, 2013 – Rose Rock Midstream, L.P. (NYSE: RRMS) announced the completion of an underwritten public offering of 4,750,000 common units at a public offering price of $33.44 per unit, before underwriting discounts. The 4,750,000 units include 712,500 units purchased pursuant to the underwriters’ full exercise of their over-allotment option. Janney served as a co-manager on this transaction.

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NGL Energy Partners LP is a Delaware limited partnership. NGL owns and operates a vertically integrated energy business with four primary businesses: water services, crude oil logistics, NGL logistics and retail propane, with locations in the United States and Canada.

Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own net profits interests and an overriding royalty interest in certain oil and gas properties held by PCEC and located in California in the Santa Maria Basin and the Los Angeles Basin.

Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include pipeline transportation, refinery services and supply and logistics. The Pipeline Transportation Division is engaged in the pipeline transportation of crude oil and carbon dioxide. The Refinery Services Division primarily processes sour gas streams to remove sulfur at refining operations. The Supply and Logistics Division is engaged in the transportation, storage and supply and marketing of energy products, including crude oil, refined products, and certain industrial gases. Genesis’ operations are primarily located in Texas, Louisiana, Arkansas, Mississippi, Alabama, Florida and the Gulf of Mexico.

 

Rose Rock Midstream, L.P. is a growth-oriented Delaware limited partnership formed by SemGroup(R) Corporation (NYSE:SEMG) to own, operate, develop and acquire a diversified portfolio of midstream energy assets. Rose Rock Midstream provides crude oil gathering, transportation, storage and marketing services. Headquartered in Tulsa, OK, Rose Rock Midstream has operations in six states with the majority of its assets strategically located in or connected to the Cushing, Oklahoma crude oil marketing hub.

Completed Transaction Announcement: INTL FCStone Inc.

Brandon K. Eck | Managing Director
Technology & Media Group
[email protected] | (215) 665-6050

Andrew M. Kurz | Vice President
Technology & Media Group
[email protected] | (215) 665-6461

July 15, 2013 – INTL FCStone Inc. (Nasdaq:INTL) announced that it completed a public offering of $45.5 million in aggregate principal amount of 8.500% senior notes due 2020 (the “Notes”). The Notes sold included a partial exercise of the underwriters’ over-allotment option, which totals $5.5 million in aggregate principal amount. The company intends to use the net proceeds of the offering for general corporate purposes.

Janney served as a joint book-running manager on this transaction.

INTL FCStone Inc. (INTL) provides execution and advisory services in commodities, currencies and securities. INTL’s businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 20,000 customers in more than 100 countries through a network of offices in twelve countries around the world.

Zonoff powers Staples’ big move into connected home space…

Friends –

Not sure if you saw today’s news yet, but we are proud to announce that Staples, the world’s largest office products company and second largest internet retailer (behind Amazon) has chosen the Zonoff platform to power their new “Staples Connect” offering for the mass consumer market.

The Staples Connect Hub, built by Linksys and based on Zonoff’s hardware reference design, will be available online and in a limited number of Staples stores for $99 this November.

Customers simply download our app, then hand-pick products from some of the biggest names in home hardware like Lutron, Philips, GE, Honeywell, Yale and First Alert.

By the way – the new interactive Staples Connect retail kiosk will be on public display for the first time at the GigaOM Mobilize event to be held in San Francisco, CA on October 16th, where our CEO Mike Harris will also be presenting.

Lots of other great things happening here at Zonoff — check out our website for more details — and be sure to let us know how we can help you!

All the best,
Bob Cooper
CMO
Zonoff, Inc,

P.S. We will be at CES once again this January — in a bigger and better suite — so we hope to see you there. Let us know if you’d like to schedule a face to face meeting!