Edison Partners Leads $8M Series A Growth Investment in Signet Accel

Fuels continued product innovation and go-to-market execution for healthcare IT interoperability platform

PRINCETON, N.J.—September 12, 2017— Edison Partners today announced leading an $8 million Series A growth financing in Columbus-based Signet Accel, a healthcare interoperability company. Signet Accel will use the funds to develop new products and partnerships, and scale sales and marketing.

Signet Accel provides data interoperability to health systems, consortia, research institutions and biopharma companies in the U.S.. Its flagship solution, Avec®, is a database-agnostic federated data integration platform purpose-built for use in complex research and clinical care environments, giving physicians and researchers the ability to view and analyze data from disparate sources on a global scale. Signet Accel’s federated model is fully scalable, uncompromisingly secure, and cost-effective.

“In our 31 years of successful investment in healthcare IT, we’ve rarely come across a company with such clear product differentiation in a market where demand is rapidly increasing,” said Gregg Michaelson, Partner at Edison Partners who led the investment. “Signet Accel has a clear opportunity to become the market leader in interoperability, and we’re excited to bring our expertise to bear as we work together to achieve this goal,” he adds.

The company’s growth has been fueled by a truly differentiated SaaS platform, and a customer roster that values quality product and service, including: The Ohio State University Comprehensive Cancer Center—The James Cancer Hospital and Solove Research Institute; the Hairy Cell Leukemia Foundation; the Oncology Research Information Exchange Network (ORIEN); REACHNet; and the Louisiana Statewide Initiative.

“We’re thrilled to work with Edison Partners, whose leaders intimately understand the complexities of healthcare and how to leverage technology and partnerships to drive and accelerate revenue growth,” said John Raden, CEO of Signet Accel. “We’re hard at work delivering superior access to integrated data across the healthcare ecosystem and Edison Partners will add tremendous value throughout our growth path.”

While many growth equity firms concentrate only in major markets, more than 80 percent of Edison investments occur in technology hotbeds outside of New York and Massachusetts throughout the eastern half of the U.S. In 2017, Edison Partners has made growth investments in Pennsylvania, Texas, Georgia, Maryland, New Jersey, and now Ohio. Signet Accel is based in Columbus, one of the top five Midwestern cities for startups founded since 2015, according to CrunchBase.

In all, Edison Partners has financed and guided more than 200 private companies since 1986. Noteworthy Healthcare IT exits include Premier Health Exchange (PHX), Dendrite, Cadient, Health Market Science, and Verilogue. Current Healthcare IT portfolio companies include Lincor, TrialScope, and Virtual Health. This growth equity investment in Signet Accel marks the 18th investment from Edison Partners’ latest fund, Edison Partners VIII, and the firm’s third investment in Ohio.

About Edison Partners

For more than 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of growth capital and the Edison Edge platform, consisting of operating leverage, the Edison Director Network, and executive education, Edison employs a holistic approach to accelerating growth and creating value for businesses ($5 to $20 million in revenue) in financial, healthcare, enterprise and marketing technology sectors. Edison’s active portfolio has created aggregate market value exceeding $10 billion. Its long-tenured team based in Princeton, N.J., manages more than $1 billion in assets throughout the eastern United States. For more information, visit edisonpartners.com.

About Signet Accel

Signet Accel is a leading HIT software and services company specializing in successful data integration, harmonization and sharing in and among consortia, institutions and health professionals around the world. Its flagship product, Avec®, is a federated data integration platform deliberately designed to integrate data in complex environments and deliver true interoperability to healthcare. Signet Accel’s software products and services power the work of its clients by helping them define, deliver and discover—faster—while ensuring all of their health data is ready for the task, more quickly than ever before. Learn how to make your data meaningful and achieve true interoperability at SignetAccel.com.

Edison Partners Wraps Up Stellar 2016, Begins 2017 with Partnership Promotions

Edison Partners today announced the promotions of Tom Vander Schaaff to General Partner and David Nevas to Partner. The moves, coming on the heels of a highly active 2016, including 12 investments and 8 exits, will support Edison’s expanding investment portfolio and the continued growth of its value-added platform, the Edison Edge.

“Edison Partners celebrated our thirtieth anniversary in 2016 with a truly stellar year of new investments and exits, and we are excited to kick off 2017 with these two well-deserved promotions,” said Chris Sugden, Managing Partner. The promotions of Vander Schaaff and Nevas reflect their contributions to these strong results and expanded roles going forward.

Click here to read the full press release.

Zagster Closes $10 Million Series B Round of Funding Led by Edison Partners

Zagster expands board of directors with veteran tech execs & investors Jonathan Seelig and Chris Randles, and Edison Partners General Partner Tom Vander Schaff; Funds will be used to fuel continued growth and technology development

CAMBRIDGE, MA–(Marketwired – Jan 5, 2017) – Zagster, Inc., the leading provider of private and public-private bike sharing systems, today announced it has raised $10 million in a Series B round of funding led by Edison Partners, a leading growth equity capital firm. In addition, Zagster expanded its board of directors by appointing: Tom Vander Schaaff, general partner at Edison Partners; Jonathan Seelig, co-founder of Akamai Technologies, former chairman of the board of Zipcar and former managing director of Globespan Capital Partners; and Chris Randles, former CEO of SpaceClaim Corp as well as MathSoft and a current venture partner at Borealis Ventures.

“With 300 percent growth in riders and programs over the past year, we’ve proven that our ‘Bike Share as a Service’ model is scalable, financially sustainable and ideally suited to meet the needs of customers across multiple markets in North America,” said Timothy Ericson, co-founder and CEO of Zagster. “This growth capital along with the expansion of our board sets the table for Zagster to enhance our product roadmap, expand our staff, and grow the organization to reach our goal of becoming the national standard in bikeshare.”

Click here to read the full press release.