2017 Philadelphia Venture Report

Data provided by Pitchbook
Sponsored by Ben Franklin Technology Partners, Morgan Lewis, EY, Fairmount Partners, Safeguard, BioAdvance, Life Sciences PA, CEO Council for Growth, and Merrill Corporation

In 2016, startups headquartered in the Philadelphia area raised more than $1 billion in VC, double the amount seen a decade earlier. Though 2017 isn’t on a similar pace, it is poised to become the fourth consecutive year with over $700 million in deal value.

This report explores the drivers of that surge, along with other facets of Philadelphia’s burgeoning tech scene.

Read full report.

PACT and Ben Franklin Launch Mentor Connect

Collaboration brings unprecedented, qualified mentorship to CEOs and leaders within PACT and Ben Franklin companies

Philadelphia, Aug 29, 2017 – The Philadelphia Alliance for Capital and Technologies (PACT) and Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) publically announce Mentor Connect, a program providing founders and leaders of emerging companies with coaching, connections, and tools to successfully grow their businesses.

Mentor Connect brings the experience of a curated team of leaders and experts to the entrepreneurs most ready to grow, assisting in the development of their business skills. As guided by the principles and standards of MIT Venture Mentoring Service, mentors deliver impartial and unbiased advice by a code of ethics to which all must adhere. Entrepreneurs from the PACT and Ben Franklin networks receive practical hands-on advice from teams of three to five mentors, tailored to each venture’s needs. The mentors volunteer their wealth of entrepreneurial insights from a broad range of industry and market-tested experience.

Thanks to positive response received from both entrepreneurs and mentors alike since the July 2016 soft launch of the program, PACT and Ben Franklin have already doubled Mentor Connect’s capacity to connect entrepreneurs and mentors, with close to 40 mentors, 27 mentees, and about 60 mentoring sessions already facilitated by the program. “I think the program is incredible,” says Mentor Connect participant, Kim Coffey of Talex Medical, “It is an amazing opportunity to learn from seasoned professionals at zero cost. I am lucky to have three mentors from different backgrounds and varied expertise that contribute greatly to guiding me in my maiden voyage.”

“When an entrepreneur with a good idea is matched with a team of mentors with proven skills and experience, their venture is more likely to succeed,” explained Dean Miller, PACT President and CEO. “We are enormously proud of year one’s success and what we were able to accomplish in such a short time. I look forward to seeing what the future holds for Mentor Connect.”

“Ben Franklin’s focus is on the entrepreneur,” said RoseAnn B. Rosenthal CEO of Ben Franklin Technology Partners. “We want to help the CEO to achieve his or her vision while building a growing enterprise that creates value for our region. Mentor Connect offers focused support to the CEOs of our portfolio companies. It also re-engages, as mentors, some of our most successful entrepreneurs, men and women who are now on their second or third businesses and who are ready to give back by sharing their real experiences with new, first time entrepreneurs,” she added.

For more information, please visit mentorconnectphl.com and contact Jennifer Cohen.


About Ben Franklin Technology Partners of Southeastern Pennsylvania
Ben Franklin is the most active early stage capital provider for the region’s technology sectors. Ben Franklin combines best practices of venture capital with a public-spirited purpose: leading the region’s technology community to new heights, creating jobs and changing lives for the better. Ben Franklin is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority. www.sep.benfranklin.org

About PACT

Philadelphia Alliance for Capital and Technologies (PACT)’s vision is to be the go-to resource for fast growing companies, and a driver of entrepreneurship and innovation in the Philadelphia region. PACT provides its members with valuable content and connections to capital, coaching, and customers that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region. Visit www.philadelphiapact.com for more information.


Media Contacts

Amanda E. Nardi,

Public Relations and Marketing


(215) 790-3608


Amanda V. Wagner

Public Relations and Community Development Associate

Ben Franklin Technology Partners

(215) 972-6700




IMPACT 2016 Capital Conference Invites 45 Companies to Compete for Venture Funding in ‘Lion’s Den’

PACT announces featured company presenters and names 2016 Lion’s Den investors

Philadelphia, Pa., October 28, 2016 – Philadelphia Alliance for Capital and Technologies (PACT) announced today its 45 Featured Company Presenters and the distinguished panel of potential Lion’s Den investors. Hosted by Grant Thornton LLP, the IMPACT 2016 Capital Conference unites the private equity, venture capital and entrepreneurial communities in the Mid-Atlantic region. For over 20 years, IMPACT has stimulated billions of dollars in venture funding and entrepreneurial success. IMPACT 2016 will focus on “Growth through Disruption” as it pertains to the marketplace of ideas. The conference will take place on November 29 and 30 at the Sheraton Philadelphia Downtown Hotel in Philadelphia.

Read full press release.

NewSpring Capital Promotes Anne Vazquez to Partner

Radnor, PA – September 20, 2016 – NewSpring Capital (“NewSpring”), a family of private equity funds providing growth and expansion capital, is pleased to announce that NewSpring Mezzanine Capital, the Firm’s dedicated mezzanine fund, has promoted Anne Vazquez to Partner.

NewSpring welcomed Anne to the Mezzanine team in 2008. She has more than 13 years of experience in financial analysis and financing of lower middle-market companies. Anne’s contributions, both broadly and to NewSpring Mezzanine, specifically, have helped drive the Firm’s success over the past eight years. In addition to her day-to-day responsibilities of sourcing and investing, Anne currently sits on the Board of Directors of portfolio companies, Alpha Imaging, Inc., S. Walter Packaging, Inc., SpeedConnect LLC, and Zentech Manufacturing, Inc. and will be assuming additional Board seats as the Mezzanine strategy builds out its latest portfolio.

“Since Anne joined the Firm, it was evident that her contributions to the investment strategy and development of the mezzanine funds would be significant,” said Andrew Panzo, NewSpring General Partner. “We look forward to Anne’s impact going forward and are confident her work will continue to benefit the Fund and its investors.”

Anne graduated from the University of Rhode Island with a B.S. in Business Administration and cum laude from Villanova University with a Masters of Accounting and Consultancy. Prior to joining NewSpring Capital, she was a Senior Analyst at American Capital, Ltd., a publicly traded asset manager in the U.S. Anne currently serves on the Board of Directors of ACG Philadelphia and the Board of Trustees of Notre Dame Academy.

Kim Landry of Hollister Creative to Speak on Digital Marketing at Wharton School During Philadelphia Minority Enterprise Development (MED) Week

For Immediate Release:

September 19, 2016

Contact: Judy Norkin, Hollister Creative 484-829-0021 or [email protected]

PHILADELPHIA, September 19, 2016— Kim Landry, president of Hollister Creative and managing partner of the Marcom Alliance, will show small business leaders how to stomp the competition in her presentation: Bigfoot Will Be Found: Why and How to have a Monstrous Digital Footprint.

Landry’s talk on October 4 at 6:30 pm at The Wharton School of Business is one of 40 events scheduled across the city for Philadelphia Minority Enterprise Development (MED) Week. Admission to her session is $20. To register, visit www.digitalbigfoot.eventbrite.com.

“I am delighted to take part in this annual effort to help minority businesses grow and thrive,” Landry said. “Creating a strong digital presence is a key marketing tactic for every business and I look forward to sharing my expertise on this subject with MED Week participants.”

Hollister Creative is a national award-winning marketing communications agency focused on the needs of service businesses and nonprofits. The agency’s clients are clustered in the fields of business and professional services and software, education, health and human services, charities and causes, manufacturing, real estate, home and facility services, culture, entertainment, media and sports.

To learn more about MED Week, visit: https://business.phila.gov/medweek/

About Kim Landry

Kim Landry is a marketing strategy consultant, President of Hollister Creative and a Managing Partner in the MarCom Alliance. She is known as a problem solver for ambitious leaders who want to grow their business or nonprofit in size, influence or impact. She views marketing as a competitive sport in which the goal is to win market share. Kim is vice chair of the board at The Main Line Chamber of Commerce, a Philadelphia Business Journal Women of Distinction honoree, and a graduate of the Goldman Sachs 10,000 Small Businesses Program. She is an active volunteer with the United Way.

For information about Hollister Creative, visit: http://www.hollistercreative.com. For information about the MarCom Alliance, visit: http://www.marcomalliance.com.

About MED Week

MED Week 2016, October 3-7, will feature 40+ events, including educational workshops, interactive panel discussions, one-on-one coaching, and opportunities to meet with procurement officers from city government and are universities. MED Week is a joint initiative of the City of Philadelphia’s Department of Commerce, the African-American Chamber of Commerce of PA, NJ & DE, the Asian American Chamber of Commerce of Greater Philadelphia, the Greater Philadelphia Hispanic Chamber of Commerce and the Minority Business Development Agency.

This year’s event theme is Philadelphia: The Center of Opportunity, Building Capacity for Prosperity.

IBM’s inaugural CMO to headline IMPACT 2016 in Philadelphia

Written by Michelle Caffrey, Philadelphia Business Journal

IBM’s inaugural Chief Marketing Officer and the former CEO of luxury shopping website Gilt will headline IMPACT 2016, the Philadelphia Alliance for Capital and Technologies’ annual capital conference, as the massive event’s keynote speaker.

PACT, an affiliate of the Greater Philadelphia Chamber of Commerce, announced Wednesday Michelle Peluso will close the conference’s first day on Nov. 29.

The former CEO of both Gilt and Travelocity will speak to the benefit of disruptions in industries and draw on her extensive executive experience for the conference, which is expected to draw more than 1,000 to the Sheraton Downtown Philadelphia Hotel and Crystal Tea Room.

“What I’m looking forward to hearing most is really how her career has evolved to where it is today and what is that entrepreneurial spirit she started with that launched her to various successes,” said Sean Denham, the office managing partner of Grant Thornton and chairman of IMPACT 2016.

Click here to read the full article.

Executive Rockstar, Michelle Peluso, to Keynote IMPACT 2016 Conference

Michelle Peluso will share insights on leading disruptive companies

PHILADELPHIA – September 14, 2016 – Philadelphia Alliance for Capital and Technologies (PACT) announced today that Michelle Peluso, Venture Partner at Technology Crossover Ventures (TCV), former CEO of Gilt, and newly announced Chief Marketing Officer of IBM, will close the first day of the IMPACT 2016 Capital Conference with a dynamic keynote speech on November 29.

“Michelle epitomizes this year’s IMPACT Capital Conference theme of growth through disruption,” said Dean Miller, President and CEO, PACT. “Her significant experience in global strategy, marketing and operations is a tremendous foundation for examining how growth through disruption affects the capital marketplace.”

Peluso is a Venture Partner at TCV, having successfully sold Gilt to Hudson’s Bay Company in February 2016.  She was CEO of Gilt from early 2013 until the sale and on the Board since 2009.  She was Global Consumer Chief Marketing and Internet Officer for Citigroup from 2009 until 2013.  Before Citigroup, Peluso was the CEO of Travelocity for six years. She joined Travelocity following the acquisition of Site59, a travel site she created and launched in 1999 as CEO.  Peluso also served as a White House Fellow and Senior Advisor to Labor Secretary Alexis Herman and as a case leader for The Boston Consulting Group in NY and London. She serves on the Board of Directors for NIKE, Inc., Technoserve and Tech:NYC.

Click here to read the full press release.

Edison Partners Leads Series A Investment in Big Cloud Analytics

Fuels Growth for Leading Predictive Analytics Technology for Insurance & Healthcare Industries

Edison Partners is pleased to announce leading a $4.5M Series A round of financing in Atlanta-based Big Cloud Analytics Inc. (BCA), a leader in predictive analytics solutions for insurance and healthcare industries. Funds will be used to expand sales and marketing efforts, as well as product development.

BCA is making healthcare simple and easy to understand by using IoT data from smart watches, wearables and other connected devices in 29 countries to inform decision-making. The company is growing 400% year over year with the help of distribution partners like Intel, CDW and Grupo Datco, and has been recognized by CIO Review as one of the Top 100 most promising companies in Big Data globally. Customers include Merck, MLC Life Insurance, as well as other health and life direct insurers and reinsurers.

Click here to read the full press release.

Medical Marijuana: A Potentially Growing Problem for Pennsylvania Employers

By Karen L. Corliss and Pamela J. Zimlin, Royer Cooper Cohen Braunfeld LLC

On April 17, 2016, Pennsylvania governor Tom Wolf signed Senate Bill 3, Pennsylvania’s Medical Marijuana Act (the “MMA”).  In doing so, Pennsylvania became the 24th state to legalize the use of marijuana for medicinal purposes.  The MMA allows patients with certain qualifying serious medical conditions to use marijuana for medical purposes. At this time, it is expected to take up to eighteen to twenty-four months for medical marijuana to become available in certain forms (including pills, oils, topical gels, creams and ointments but not smoking) to eligible patients in Pennsylvania.

So what does the MMA mean for the workplace and, more specifically, for employers? Pennsylvania employers should be prepared to navigate some murky waters when it comes to handling employees who have been prescribed marijuana for medical purposes. At the moment, there are more questions than answers. For instance, how should employers reconcile the passage of the MMA with the fact that marijuana remains illegal under federal law? May an employer terminate an employee for violating the company’s antidrug-use policies if the employee is using marijuana for medical purposes?  How will federal and state laws affect employers’ ability to continue their policies of drug testing employees? Does the Americans with Disabilities Act (the “ADA”) require employers to offer reasonable accommodations to employees who are prescribed medical marijuana?

Click here to read the full article.

Data Systemns Analysts Awarded DISA National Gateway Center Task Order Recompete

Trevose, PA – Data Systems Analysts, Inc. (DSA), a leader in delivering secure information management solutions to the U.S. Department of Defense, is pleased to announce that the Defense Information Systems Agency (DISA) has awarded it the National Gateway Center (NGC) Task Order (HC1028-08-D-2006-0020) under the DISA ENCORE II IDIQ contract.

Through this task order award, DSA will continue its more than 50-years of support for NGC.  DSA will provide life cycle software and hardware maintenance support, systems engineering, logistics, network engineering, and the operational and security technical support needed to maintain the operational NGC backbone command and control (C2) messaging systems. DSA will also collaborate with NGC-designated product developers to ensure software is maintained in keeping with Government directed standards.

Click here to read the full press release.