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News from the Portfolio:
InStorecard,
developer of a hosted customer retention platform for retailers, continues to sign new customers. In early April, the company hired Inderpreet Wadhwa as its Vice President Product/Engineering, who most recently was with Oracle. In February, InStoreCard completed a round of $4 million in funding, led by Outlook Ventures, Canaan Partners and Mobius Ventures.
Bridgestream,
the developer of rights and security access management, recently welcomed Mark Tice as the new CEO. Mark brings more than 20 years of enterprise software sales and marketing experience to the team. Mark was Executive Vice President and General Manager at Mantas, a provider of software for compliance and behavior detection in the financial services industry, as well as Group Vice President for Worldwide Channel and Sales Alliances at Business Objects. Also joining Bridgestream this past quarter is Vice President of Marketing, Ed Zou. Ed was previously General Manager of Business Integration at TIBCO and prior to that was Director of Products at ActivePortal and AristaSoft.
Reconnex,
developer of appliances for electronic risk management, continues to gain significant traction within Fortune 500 companies. The company has released a new version of its security platform and has channel initiatives under way with global leaders in managed services. Reconnex has made major inroads into the financial services, manufacturing, technology and government markets. In February, the company completed a financing round of $5.5 million, including a new investment by Levensohn Capital and continued commitments from Outlook Ventures and Norwest Venture Partners.
Echopass,
a provider of hosted contact center solutions, was selected as a Red Herring 100. The company continues to expand its partnership with hosted CRM firms, including salesforce.com, Right Now and Net Suite, to offer customers an integrates solution with contact center capabilities. Echopass has also developed integrated solutions with outsourcers, such as EMS, which specializes in inbound and outbound teleservices and technical support for the medical, insurance, and telecommunications industries, and MediCall, a medical services company dedicated to serving the healthcare industry by providing industry-specific programs for each stage of a drug or medical product's life. The company has added Bruce Pollock, former CFO of Avanex (AVNX), Walker Interactive (WALK) and VMX (now Avaya), to its Board of Directors.
nSite Software,
provider of hosted process automation solutions for the mid-market enterprise, continues to focus its ASP business on areas of sales operations, including CRM, sales force management, and customer support and service applications within mid-sized enterprises. nSite recently launched a strategic partnership with WebEx Corporation. Integration of the two company's products will give WebEx customers access to nSite process solutions during conference calls, such as Action Item lists and forms related to the topic of that conference call. Similarly, nSite customers can use WebEx for their conferencing needs from within the nSite application.
Active Network's software allows local sports groups, such as Little League, soccer, and marathons to easily sign up and track participants. The company also holds a leadership position in sales to U.S. parks and recreation departments and sports marketing services. This past quarter, the Leukemia and Lymphoma Society selected Active as its partner for a $200 million pledge program called "Team & Training". Recently, Active added Vice President for Endurance Sports, Sejal Pieprzak to its already-strong team. The company also acquired The Public Enterprise Group this past quarter, which was an acquisition of a strong sales team that has great contacts into the parks and recreation space.
Epiance, a provider of software solutions for business process improvement, has captured the interest of Fortune 500 firms who value the improved process visibility Epiance can offer at a real-time, granular, root-case level as well as the potential for improved process control via a closed loop of monitoring, intervening and ensuring compliance. Customers include Aetna, Beaumont Hospitals, Merrill Lynch, SBC and Toyota. The company recently established a joint venture with Mitsui in Japan and hired Toru Matsuura (most recently President of Red Hat Japan) as its Managing Director. Epiance has also recruited a senior engineering leader from Oracle India to manage Epiance's India Java development team.
Toolwire,
a provider of products to assist in the sales and post-sales training/support, continues its growth with expanding partner relationships in the U.S. and Europe. ToolWire has partnered with Thomson NETg, a global leader delivering integrated learning solutions that include a comprehensive offering of high-quality instructional content, multiple delivery options, cutting-edge enabling technologies and a full range of expert consulting services to the healthcare, telecommunications, manufacturing, pharmaceuticals and financial services sectors. Scheidegger, a leader in providing affordable, high quality IT training in the Europe, utilizes ToolWire to enable the I.T. professional to gain a recognized qualification. SkillSoft, a leading provider of enterprise e-learning within Global 2000 organizations incorporates ToolWire to deliver multi-modal learning solutions support that enhance the speed and effectiveness of both formal and informal learning processes.
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