Chewy founder Ryan Cohen on its fast-approaching IPO: ‘It’s like seeing my baby graduate’

Read the full article here.

Ask any venture capitalist about the most important ingredient to success in startups, and they’ll tell you it’s founders who can persuade not only investors to part with their capital but, more importantly, who can convince people to leave what are often more stable jobs in order to help build their companies.

Ryan Cohen certainly fits the description. It goes a long way in explaining why Chewy, the online retailer of pet supplies that he co-founded in 2011, sold to PetSmart for a reported $3.35 billion in 2017 — and why it’s also expected to stage a successful IPO this Friday, when PetSmart spins it off (though PetSmart will continue to hold a majority stake in the company). Just today, the expected IPO price range, originally planned at between $17 and $19 per share, was raised to $19 to $21 per share, with the IPO advisory firm IPO Boutique saying the guidance it has received is that the deal is “multiple times oversubscribed.”

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Recycle Track Systems starts first-ever municipal contract in Indiana

Read the full article here.

By Cole Rosengren

Dive Brief:

  • Recycle Track Systems (RTS), a New York-based service provider known for its technology platform, has won its first-ever municipal waste collection contract. Valued at $3.75 million, the deal with La Porte, Indiana runs for four years with the option of a three-year extension.

  • This contract was previously held by Waste Management. Now, RTS will facilitate service to 7,500 residential and government locations through local company LakeShore Recycling & Disposal. Every truck will be outfitted with the RTS technology platform, which allows residents to manage service and helps the city optimize routing.

  • "We're thrilled to start this partnership with the City of La Porte which is joining the smart cities movement to become more efficient in managing waste," said Adam Pasquale, co-founder and COO, in a statement. "Waste collection is an essential city service and we're excited to introduce our technology solutions to help improve services for residents and support the city's sustainability goals for the future."

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Bond-Pro Raises $10M to Accelerate Leadership in Specialty Insurance Software

Volition Capital Leads Investment to Fund Bond-Pro’s Continued Innovation in Surety & Specialty Insurance Software

Boston, MA and Tampa, FL USA, January 15th, 2019 – Bond-Pro, the leading provider of Surety and Specialty Insurance software products and services, announced today that it has secured $10 million in growth equity funding to continue accelerating Bond-Pro’s vertical market integration strategy between carriers and agencies and to scale Bond-Pro’s delivery capabilities to match the continuing market demand from top US and Canadian insurance carriers. Volition Capital led the round of funding and Roger Hurwitz, Managing Partner at Volition Capital, will join the Company’s board of directors.

“The capital provides us with the resources to further strengthen Bond-Pro’s Next Gen Surety Carrier and Agency solutions, accelerate global expansion beyond North America and launch a B2B Surety Hub that seamlessly connects carriers and agencies in real-time,” said Frederick Duguay, CEO at Bond-Pro. “We’re excited to continue building upon the success of our modern Next Gen Platform solution, which already allows our clients to automate processes, materially reduce operating costs and mitigate their underwriting risk, while growing premiums by making it far easier for agents to write with them.”

 “We carefully selected Volition Capital to be our partners.” said Duguay, “Volition has a great deal of experience investing in best of breed vertical software businesses. Their broad sector knowledge and relationships will be a tremendous asset as we continue to revolutionize how surety and specialty insurance is managed.”

“What impressed us most is how rapidly Bond-Pro has grown to become the leading vendor for surety and related specialty insurance software solutions, and has done so in a bootstrapped, profitable manner”, said Roger Hurwitz, Managing Partner at Volition Capital. “The Bond-Pro team has the vision and foundation in place to transform the automation of specialty insurance. We look forward to partnering with the team to help them increase their reach and expand their offerings.”

About Volition Capital

Volition Capital is a growth equity firm that principally invests in high potential, founder-owned companies across different technology sectors.  The firm specializes in partnering with founders to help them achieve their fullest aspirations for their business.  Much of Volition’s success has come from investing in capital efficient technology companies in sectors such as: enterprise SaaS, consumer e-commerce/brands, tech-enabled services, and transactional applications.  For more information, visit http://www.volitioncapital.com.

About Bond-Pro

Bond-Pro, Inc. is the developer and publisher of Bond-Pro® Enterprise Next Gen, the leading automation and management software utilized by hundreds of agencies and dozens of surety carriers to drive greater premium, improve underwriting efficiency, reduce costs and mitigate risk.  Its enterprise products and services enable specialty insurance professionals to fully computerize and effectively manage the entire life cycle including Accounts, Jobs, Bonds, Claims, Reinsurance, Workflow, and Data Analytics.  For more information, please call 813-413-7576 or visit http://www.bond-pro.com.

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PlayerLync Receives $12.5M Round B Funding to Accelerate Growth

Volition Capital returns to Colorado and strikes gold in PlayerLync

Denver, CO – November 1, 2018 – PlayerLync, the leading mobile content platform for modern learning and performance management, secured $12.5 million in growth financing for the purpose of marketing, additional staffing, and entering new markets. Volition Capital led the financing with participation by Anschutz Venture Group (AVG), a longtime investor in PlayerLync. Volition is investing in the 2018 Colorado Companies to Watch winner, PlayerLync, and looking to duplicate their success as an early investor in Denver-based Ping Identity, another stand out leader in the Colorado technology landscape.

“PlayerLync’s rapid growth comes from their solution’s wide market appeal and an ability to effectively navigate into adjacent industry verticals. While the business originated in Sports, PlayerLync now serves top Restaurant, Retail and Hospitality brands with over 1 million daily end users. The PlayerLync team demonstrates sound go-to-market tactics and the operational discipline required to service world-class organizations such as Starbucks, Jack-in-the- Box, Talbots, Crocs, Southern Co Gas, and Chipotle,” states Roger Hurwitz, Managing Partner at Volition. “We’re confident from those successes and excited by the growing interest in PlayerLync’s offerings from the Energy, Logistics and Transportation verticals. We’re simply empowering a competent team to more aggressively pursue this multi-billion dollar opportunity.”

PlayerLync is experiencing fast growth under a strong leadership team. Founders Bob Paulsen, Greg Menard, and Robert Smith bring professional execution along with telecom and software experiences to the table, which directly translate into enterprise-ready scale and quality.

“From our backgrounds, we understand that “carrier-grade” is table stakes for enterprise customers today. So, we built PlayerLync on a technology foundation that excels in performance, quality, and security. Then we took it a step further by designing functional teams modeled after world-class SaaS organizations,” said Bob Paulsen, CEO of PlayerLync. “We’re filling a large gap for enterprises, and we’ve got a winning combination that’s allowed us to earn business from marquee brands, pursue partnerships with the largest companies in the world and quickly secure the leadership position in this category. We’re thrilled by this vote of confidence and to be working beside high caliber investors like Anschutz and Volition.”

Roger Hurwitz joins PlayerLync’s Board of Directors.

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Cortera Raises $10 Million to Accelerate Expansion of Commercial Credit Analytics

Hearst’s Fitch Group Joins Investor Group As Part Of Next Growth Stage


BOCA RATON, Fla., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Cortera®, a leading provider of business information, analytics and workflow solutions, announced today that it has raised $10 million in a Series B funding. Hearst’s Fitch Group Financial Venture Fund led the round, joined by existing Cortera investors that include Volition Capital, Battery Ventures, Allen & Company and Tomorrow Ventures.

Cortera understands the vitality of commercial credit to economic growth. Through a contributory network of smarter business intelligence, Cortera provides unique insights into the purchase and payment behavior of private and public companies. Leveraging behavioral modeling, predictive risk scores and proactive monitoring, companies are now empowered with analytical insights in minutes, no matter size or skill set.

“We are passionate about fueling profitable business growth in the US,” Cortera CEO Jim Swift said. “For too long, the flow of capital has been hamstrung by the need for more complete and timely insights into private companies. It is exciting to be at a point of network coverage where businesses now have a powerful alternative to traditional sources.”

Larry Cheng, managing partner at Volition Capital, continued: “The holy grail of commercial credit has been to bring quality credit data and transparency to the hardest part of the market—private businesses. We believe this partnership helps Cortera to realize this longstanding vision and are excited to be a part of its next chapter.”

The Cortera Credit Exchange, fueled by over $1.3 trillion in annual B2B transactions across more than 20 million U.S. business locations, delivers the best information on private companies with deep-dive views into risk implications spanning 45 industry segments. Innovative features such as interactive infographics, self-service batch appends, robust APIs and real-time scorecard wizards present data-driven insights in easy, intuitive formats.

“Cortera is a strong fit for Hearst’s Fitch Group Financial Venture Fund,” said Shea Wallon, the fund’s managing director. “Cortera’s unique business information and analytics provide an alternative view into the credit risk of private businesses where traditional financial statements are not reliable or easily available. Its business supports Fitch Group’s goal of partnering with companies that generate proprietary content to enable differentiated insights into credit risk. We are excited to play a role in helping Cortera continue to develop the next generation of commercial credit risk analytics and leverage their insights into Fitch’s leading products and solutions.”

Wallon will be joining Cortera’s board of directors as part of the investment.

About Cortera
Cortera predicts outcomes. With over 25 years in financial services, our team understands the vitality of commercial credit to economic growth. By building a network of smarter business intelligence, we are uniquely able to help customers predict opportunity and risk from point of client acquisition through payment. Companies are now empowered with analytical insights in minutes, no matter size or skill set. Headquartered in Boca Raton, Florida, Cortera is the fastest growing commercial data analytics platform. For more information visit www.cortera.com.

About Hearst
Hearst is one of the nation's largest diversified media, information and services companies with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; transportation assets including CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets; 31 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, California, which reach a combined 19 percent of U.S. viewers; newspapers such as the Houston ChronicleSan Francisco Chronicle and Albany Times Union, more than 300 magazines around the world including Cosmopolitan, ELLE, Men’s Health and Car and Driver; digital services businesses such as iCrossing and KUBRA; and investments in emerging digital entertainment companies such as Complex Networks. Follow us on Twitter @HearstLive and @Hearst.

About Fitch Group
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

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Moody’s Analytics Partners with Cortera on Small Business Solution

SAN FRANCISCO--(BUSINESS WIRE)--Sep 13, 2018--Moody’s Analytics, a global provider of financial intelligence, is pleased to announce a new partnership with Cortera, a leading provider of commercial information and analytics. Cortera’s trade credit data – covering more than $1.3 trillion in annual B2B credit transactions – will be available through the Moody’s Analytics small business lending solution.

“We’re excited to partner with Cortera,” said John Baer, Managing Director-Head of Small Business Lending at Moody’s Analytics. “Lenders need to know more about the creditworthiness of private companies, quickly. Bringing Cortera’s trade credit data into our small business lending solution will deepen our clients’ analysis and help them make better – and faster – credit decisions.”

Cortera’s trade credit information will be integrated into the Moody’s Analytics RiskCalc™ Small Business tool, part of the small business lending solution. The tool gives lenders a fast and highly predictive way to score a small business, which translates into more profitable decisions and increased loan volume.

The analytics supplied by Cortera add a powerful dimension by pre-populating data that enhances the accuracy of the small business score, helping lenders gauge the creditworthiness of businesses that have traditionally been hard to assess.

“Lenders’ ability to assess the credit risk of small private companies can be challenging with traditional sources,” said Jim Swift, CEO of Cortera. “Incorporating our trade credit data will enhance the Moody’s Analytics solution by offering its clients a wealth of insight into these businesses.”

The Moody’s Analytics small business lending solution includes the MARQ™ Portal, which streamlines the credit management process by allowing lenders to automate manual processes at every step – from customer onboarding to portfolio monitoring – and to understand business borrowers’ credit position instantly. The MARQ Portal is integrated with our CreditLens™ and Lending Cloud origination solutions, cloud-based platforms that help financial institutions make better and faster lending decisions.

To learn more from our small business lending experts, and to learn about our other award-winning solutions, please join us at our upcoming events: the Commercial & Ag Lending Conference, September 24-26 in Omaha, Nebraska; and the Moody’s Analytics Summit, November 4-6 in Phoenix, Arizona.

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TraceLink Announces $93 Million Investment Round to Accelerate Expansion of Information-Sharing Network Platform Across Life Sciences

NORTH READING, Mass., Aug. 21, 2018 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced that it has closed a $93 million investment round led by Georgian Partners, with new investors Vulcan Capital and Willett Advisors LLC, and participation by all existing investors: FirstMark Capital, Volition Capital, F-Prime Capital and Goldman Sachs.  TraceLink has also announced that Tyson Baber from Georgian Partners has joined its Board of Directors. Since its founding in 2009, TraceLink has attracted a total of $167 million in investments.

This investment will fuel the digitalization of the global pharmaceutical supply chain through the integration of real-time information-sharing, in order to create a highly predictable supply chain for the industry.  Specifically, the capital will enable TraceLink to expand into adjacent application areas, such as supplier collaboration, patient communities, personalized medicine, predictive care and gene therapies. TraceLink will also use the funds to further reinforce its R&D and Services organizations to support its rapidly growing customer base of 930+ pharmaceutical manufacturers, contract manufacturers (CMO), wholesaler distributors, third party logistic providers (3PL), hospitals and pharmacies.

"As we continue to execute on our vision to build the digital supply chain, we are making strategic investments in machine learning, artificial intelligence and blockchain, ultimately delivering an open development platform for information sharing and predictive analytics," said Shabbir Dahod, president and CEO, TraceLink. "Georgian Partners' deep expertise will significantly aid our efforts in bringing global information-sharing applications to market, driving the entire industry forward to solve critical business challenges through supply chain digitalization."

Tyson Baber, Partner, Georgian Partners, commented, "The pharmaceutical industry is at a digital tipping point and TraceLink is in the ideal position to drive major advancements in this transformation with its information-sharing network platform. We are very excited to partner with TraceLink on its next phase of growth and look forward to helping guide the company on its journey to shape the future of the digital drug supply network, leveraging our experience and clients' collective expertise in artificial intelligence and machine learning."

TraceLink's network connects over 270,000 pharmaceutical companies, CMOs, wholesale distributors, 3PLs, parallel importers, repackagers, hospitals and pharmacies worldwide. This unique network platform will enable TraceLink to help the life sciences industry address fragmented and manual information-sharing processes, which in aggregate, cause over $100 billion in annual losses from drug diversion, revenue leakage, and operational inefficiencies due to a lack of effective information exchange capabilities.

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TraceLink Bags $93M, Plans A.I. & Blockchain Tools for Drug Tracking

Read the full article here.

By Jeff Engel

Xconomy Boston — Step one for TraceLink, a maker of software that helps track the supply chain of pharmaceuticals, was recruiting hundreds of thousands of companies and organizations to its digital platform.

Now, much like the playbooks of social media companies and other tech firms, step two will be to develop “new applications on top of that infrastructure”—thereby taking advantage of “the information and the network that we’ve built to drive even greater value for our customers” says TraceLink CEO Shabbir Dahod.

A new cash infusion might help the company in that endeavor. On Tuesday, the North Reading, MA-based firm announced it closed a $93 million funding round led by Georgian Partners, a later-stage investor based in Canada. Georgian was joined by new TraceLink investors Vulcan Capital and Willett Advisors, as well as earlier backers FirstMark Capital, Volition Capital, F-Prime Capital Partners, and Goldman Sachs, according to a press release.

The $93 million investment includes $60 million that was revealed in a June documentfiled with the SEC. TraceLink says it has now raised a total of $167 million from investors to date.

The 500-person company sells cloud-based software that enables companies in the pharmaceutical industry to perform various tasks around authenticating and tracking the drugs they work with. That includes meeting regulatory compliance standards, storing what can be a massive amount of data created by tracking individual packages of drugs, and interacting with other companies that use TraceLink (such as manufacturers coordinating with distributors).

As Xconomy has reported, the nine-year-old company aims to not only let customers track large amounts of data, but its software is also meant to let them exchange data on the platform, almost like a social network. TraceLink’s software capabilities include instantly notifying every organization in the network when there’s a drug recall. Organizations can then use the company’s inventory tracking functions to figure out where the product is located, Dahod says.

TraceLink’s software is currently tracking nearly 1 billion pharma products, Dahod says. Its network connects more than 270,000 pharmaceutical companies, contract manufacturers, wholesale distributors, hospitals, pharmacies, and other organizations worldwide. The company counts more than 950 of them as customers, Dahod says. He declined to share the company’s revenues, but he says they’re growing quickly.

The company’s future product ideas include developing machine learning applications for customers to crunch the vast amounts of supply chain data they’re accumulating, in order to, say, manage drug inventory better and predict shortages, Dahod says.

“All of this converges into a massive data store that now we’re building out,” he says. “We want to leverage it with new technologies, such as machine learning, to have better integrity of product … and more predictable forecasts.”

Another area of interest for TraceLink is blockchains, the online, distributed ledger systems that power cryptocurrencies such as Bitcoin. TraceLink is developing blockchain-based software to help the pharma industry meet certain track and trace requirements in the U.S. Drug Supply Chain Security Act, Dahod says. He says the company will release more details about the project by the end of the year.

There’s a lot of hype surrounding blockchains, but not many products having an impact. Still, TraceLink isn’t alone in attempting to apply the emerging technology to supply chains. IBM and Maersk, the European shipping and logistics company, have formed a joint venture working on blockchain software for supply chains. Meanwhile, Walmart and several other brands are starting to use IBM software to track the supply of food.

Dahod says TraceLink customers have “curiosity” and “early interest” in blockchain systems for the pharma supply chain. “We believe we have a very practical approach to a solution that is more in line with the value proposition that blockchains provide,” he adds.

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TraceLink, which helps pharma companies trace drugs through the supply chain, just raised $93 million

Read the full article here.

By Connie Loizos

TraceLink, a nine-year-old, software-as-a-service platform for tracking pharmaceuticals and trying to weed out counterfeit prescription drugs in the process, has raised $93 million in Series D funding. Most of the money — $60 million — was used to buy primary shares, with another $33 million used to buy up the shares of previous shareholders.

Georgian Partners led the round, with participation from Vulcan Capital and Willett Advisors, along with all of the company’s earlier investors. These include Goldman Sachs, whose growth equity arm had led the company’s $51.5 million Series C round last year, as well as FirstMark Capital, Volition Capital and F-Prime Capital.

As TC had reported at the time of that last round, TraceLink  helps pharma companies comply with country-specific track-and-trace requirements through their supply chain, which has grown increasingly important following the passage of the Drug Supply Chain Security Act in 2013. The consumer-protection measure aims to prevent individuals’ exposure to drugs that could be counterfeit, stolen, contaminated or otherwise harmful.

At the time of its enactment, it also gave the industry one decade before unit-level traceability becomes enforced, meaning the clock is ticking.

Like Uber, WeWork and a small-but-growing number of private companies, TraceLink also appears to be preparing for life as a publicly traded outfit by releasing some of its financial metrics, including, in TraceLink’s case, quarterly revenue and customer growth numbers.

Just last week, the company published its “financial growth highlights,” which include a 62 percent year-over-year increase in its second quarter revenue; a 42 percent year-over-year increase in all bookings over the same period; and two-year revenue compound annual growth rate of 71 percent.

In June, we reported on TraceLink’s initial $60 million of funding after spying an SEC form relating to its fundraising. The company, based in North Reading, Ma., has now raised $167 million altogether.

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'Uber for trash' uses rideshare technology to collect waste

Read the full article here.

By Gillian Brassil

Four years ago, Greg Lettieri and Adam Pasquale found their startup idea in the garbage.

The CEO and COO, respectively, of Recycle Track Systems (RTS) offers up environmentally focused waste removal and recycling by connecting its clients with independent haulers. Its major selling point, however, takes a page out of Uber's driving manual, using technology that tracks trash from pickup to drop-off.

New York-based RTS partners with local sanitation companies to transport garbage by installing rideshare tech in their trucks. Client companies get multiple notifications on where their waste is going via RTS's proprietary software and experts in waste management. RTS also offers on-demand service for larger items, like furniture or electronics. In June 2017, the company closed a series A financing round with Volition Capital worth $11.7 million.

The startup aims to take food waste straight to the farm where it is converted to soil. Waste with high potential to be laced with plastic gets sent to a facility to be cleaned. In fact, the CEO explained that environmental concerns are a focus of his company.

"Food waste is 35 percent of the waste stream, making it a real problem with landfills," Lettieri told CNBC recently. "We need more people on this, the amount of material being thrown out needs to change."

RTS Tweet

RTS operates in New York, Washington D.C., Philadelphia, Baltimore and Chicago, offering its services to restaurants, schools, hotels, stadiums and supermarkets.

RTS software collects data on what type of waste the company is producing and how to reduce their footprint, and a company expert can give a lesson about how the client can be more sustainable. One of those clients is WeWork, the booming work sharing company that has locations mushrooming all over New York City that started working with RTS back in February 2016.

Source: Recycle Track Systems 

"As we expand our footprint, we have to consistently consider our impact on the local community and the environment," said WeWork's director of Tri-State operations Jeff Safenowitz.

RTS's current list of clients also includes Whole Foods, the Barclays Center, Citi Field, SoulCycle, WeWork, the Washington Nationals and the D.C. United.

Citi Field, home of the New York Mets, has been working with RTS since October 2017. In one of their largest collaborations with the field, RTS helped clean up after the 2018 National Hockey League Winter Classic.

After the event, RTS donated 18,000 square footage of plywood used to build the rink, and 27 rolls of unused snow to Materials for the Arts, a Long Island City, NY-based program that supports thousands of non-profit organizations and public schools throughout the Big Apple.

"Baseball is getting serious about going zero waste and being more sustainable, it's a major responsibility for us and for sports teams and leagues in general" said Micheal Dohnert, Operations Director at Citi Field. "RTS has been pretty incremental in that: what needs to be replaced, what should we be looking for."

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Recycle Track Systems Honored as ‘Best For Environment’, Creating Most Positive Environmental Impact

New York, New York – (June 12, 2018) – Today, Recycle Track Systems was recognized for being among companies creating the most positive environmental impact based on an independent, comprehensive assessment administered by the nonprofit B Lab. Honorees are featured on B the Change, the digital Medium publication produced by B Lab, at bthechange.com/bestfortheworld.

Recycle Track Systems (RTS) is honored in the ‘Best For Environment’ list, which includes businesses that earned an Environment score in the top 10 percent of more than 2,400 Certified B Corporations on the B Impact Assessment. The full assessment measures a company’s impact on its workers, community, customers and the environment. To certify as B Corporations, companies like RTS must complete the full assessment and have their answers verified by B Lab.

The Environment portion of the B Impact Assessment evaluates a company’s environmental performance through its facilities, materials, emissions, and resource and energy use. Companies answer questions about their transportation/distribution channels and the environmental impact of their supply chain. The assessment also measures whether a company’s products or services are designed to solve an environmental issue, including products that aid in the provision of renewable energy, conserve resources, reduce waste, promote land/wildlife conservation, prevent toxic/hazardous substance or pollution, or educate, measure or consult to solve environmental problems. Honorees scoring in the top 10 percent set a gold standard for the high impact that business as a force for good can make on nature around the world.

“It is an honor B Corp has recognized RTS as ‘Best for Environment’ which is a reflection of our team’s relentless dedication and determined commitment to develop innovative waste management solutions,” said Adam Pasquale, Cofounder and Chief Operating Officer. “This shared mission drives us every day to make a positive influence in all we do and hope this recognition will encourage others to do even more to protect the environment.”

The 228 Best For Environment companies come from 72 different industries and 25 countries. B Lab simultaneously released separate lists recognizing B Corporations as Best For The World Overall, Best For Community, Best For Customers, Best For Governance and Best For Workers, which can be found at https://bit.ly/2yLmmwm/. In the fall, B Lab will release the Best For The World: Changemakers and the Best For The World Funds lists.

Additional 2018 Best For Environment honorees include: Carnegie FabricsPeople Against Dirty/MethodRubicon Global; and Seventh Generation.

“With the rise of anger at a system that feels rigged, people are hungry for companies like Recycle Track Systems, who are changing the system by building businesses that seek to create the greatest positive impact,” says Jay Coen Gilbert, co-founder of B Lab. “Best For The World is the only list of businesses that uses comprehensive, comparable, third-party-validated data about a company’s social and environmental performance. As consumers, talent and investors increasingly demand transparent, values-aligned businesses to buy from, work at and invest in, companies will need to not just the best in the world but the best for the world, and not just to be nice but to be the most successful.”

Nearly 1,000 Certified B Corporations were named 2018 Best for the World Honorees, including: PatagoniaKing Arthur Flour CompanyGreen Mountain Power; and the United Kingdom’s Charity Bank. Fifty-two countries are represented, including Denmark, India, South Africa and Taiwan. The selection criteria for Best for the World honorees are available at https://bit.ly/2IgAzF5.

Today there are more than 2,400 Certified B Corporations across more than 150 industries and 50 countries, unified by one common goal: to redefine success in business. Any company can measure and manage social and environmental performance at http://bimpactassessment.net.

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GlobalTranz Selects New Equity Partner

PHOENIX (June 5, 2018) —(BUSINESS WIRE) GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today announced that it has selected The Jordan Company, L.P. (TJC) as its new equity partner. TJC has signed a definitive agreement to acquire 100% of GlobalTranz from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, Susquehanna Growth Equity, Volition Capital, Savano Capital Partners, and other investors. The transaction is expected to close within 45 days.

TJC has a long history of partnering with management teams to help build businesses through a combination of strategic investments to drive organic growth and acquisitions. “We are extremely impressed by what the current management team and employees have accomplished in building GlobalTranz into a world-class business,” said Brian Higgins, Senior Partner, The Jordan Company. Higgins added, “GlobalTranz is a very strong fit with our existing portfolio companies and we expect to leverage our experience in the logistics space to help management continue to grow the business.”

“I am excited to have TJC as our new owners,” said Bob Farrell, chairman and CEO of GlobalTranz. “I would like to thank Providence, Susquehanna, Volition and Savano for their support, guidance and governance. The collective and collaborative hard work by everyone on the GlobalTranz team has allowed our existing investors to realize a strong return while concurrently positioning the company well for the next steps in its evolution.”

Ranked the 10th largest freight brokerage in the US by Transport Topics, GlobalTranz is driving strong growth with 25,000+ customers through technology innovation, a network of 34,000+ carriers, transformative M&A, creative products and services and superior customer service delivered by the best people in the industry.

“Our new partnership with TJC will allow us to keep doing what we are doing – driving execution, building differentiated solutions and technology, being a 3PL of choice for all our carriers, providing superior customer service and being a strategic partner to our customers. TJC will allow GlobalTranz to continue its market leadership and scale to the next level. There is no other team in our industry like ours and together we will continue to drive unique success. I look forward to the days ahead,” added Farrell.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real-time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. In 2018, Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S.

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Fastest Growing Companies: Assent’s ascent

Read the full article here.

By David Sali

Each year, OBJ recognizes the region’s rapidly growing firms with its Fastest Growing Companies awards. The aim is to honour the city’s top performers for substantial, sustainable and profitable growth. Recipients are ranked by their three-year revenue growth. They must have had revenues of at least $100,000 in the first of those three years under consideration. Revenues must have risen to at least $500,000 in their most recent fiscal year. The companies will be profiled online in the coming days and recognized at a cocktail reception on May 24 at You.i TV headquarters in Kanata. Click here for more information on the event.

An ever-expanding web of government red tape isn’t usually thought of as a strong catalyst for business growth.

But then again, Assent Compliance is no ordinary business.

The east-end Ottawa firm that makes software to help ensure companies and their suppliers around the world are complying with an ever-growing list of government regulations is in expansion mode itself as it makes its first appearance on OBJ’s list of fastest-growing companies.

A small outfit with just 25 employees four years ago, Assent Compliance now boasts a headcount that stands at a robust 320 and rising – about 240 of them at its head office on Coventry Road.

But as far as CEO Andrew Waitman is concerned, the 13-year-old company is just beginning to hit its stride.

“We’re at the end of the first inning,” he says, using a baseball analogy to emphasize his point. “Things only just now start to get really interesting. We’re in a business that has a global opportunity and literally has thousands to tens of thousands of companies that need what we do. I think that we have to continue to execute extremely well to go get that real opportunity that will be ours in the (2019-21) time frame.”

Fastest Growing Companies: Assent Compliance

Year founded: 2005
Local headcount: About 240, with about 80 more outside Canada
Product/service: Enterprise software that helps companies comply with government regulations
Three-year revenue growth: 280%
2018 ranking: #9

Although Waitman won’t divulge how many clients the firm has or who they are, he does say Assent already counts a number of Fortune 1000 companies among its customers. Collecting data on regulatory compliance is a daunting task, he notes, and once potential clients see what Assent can offer, they’re usually eager to jump on board – Waitman says the firm wins about 80 per cent of the contracts it bids on.

“A lot of what we do has been done manually in companies for years,” he explains. “We are in the business of automating the arduous.”

The key for Assent is finding its way in the door of more multinational firms for a chance to make its pitch. Investors are clearly betting it will – the company has landed $60 million in venture capital in the past few years, funding it is plowing into R&D and sales and marketing to improve its products and expand its reach.

Assent now has sales teams in the United States, United Kingdom, Malaysia and Kenya as well as a couple of eastern European countries.

“We are still in what I call the pursuit business,” Waitman says. “You can’t just overcome how people are doing things overnight. We’re growing decently, but we’re still below a large number of companies’ radar.”

Most of the firm’s growth has been organic as Assent adds more features to its products and customers subscribe to more of its services. Waitman won’t rule out pursuing acquisitions in the future, but for now, he says, the company already has enough on its plate to keep it in growth mode for some time to come.

“There’s a lot of growth just from expansion of existing customers as they consume more and more of the platform,” he says.

Bolstered by a $40-million funding round just last year, the firm isn’t worried about seeking more capital at the moment, its CEO adds. Another round could make sense, Waitman says, but for now it’s full speed ahead with building its products and acquiring more customers.

“That could happen in six months or it could happen in 12 months,” he says of launching a bid for more VC cash. “It just depends on a lot of factors. Right now, it’s not something that has the leadership team’s attention. We’re totally focused on execution.”

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Virgin Pulse and RedBrick Health Joining Forces to Create World’s Largest Digital Employee Wellbeing and Engagement Company

Merger Will Create First and Only One-Stop-Shop for Employee Health, Wellbeing and Benefits Engagement; Combined Company Will Have More Than 3,300 Customers Across 190 Countries

PROVIDENCE, R.I., May 21, 2018 (GLOBE NEWSWIRE) -- Providence-based Virgin Pulse and Minneapolis-based RedBrick Health announced today that the industry pioneers will merge, creating the world’s largest, most comprehensive digital health and engagement company. This powerful combination will deliver the industry’s only fully integrated digital platform, with benefits navigation and live coaching to support global clients and members across the entire health, wellbeing and benefits lifecycle – from screening and assessment to activation, behavior change and the adoption of sustainable, healthy habits.

“We are thrilled to join with RedBrick to set a new vision and standard for employee health, wellbeing and engagement,” said David Osborne, Virgin Pulse CEO, who will serve as CEO of the combined company. “Bringing RedBrick’s live and digital coaching and benefits navigation together with Virgin Pulse’s mobile-first, daily engagement platform allows us to deliver the industry’s only global, one-stop-shop for employees and employers. As first-movers in this space, and with substantial investment from our new partner, Marlin Equity Partners, we are well-positioned to execute an aggressive growth strategy and change even more lives around the world for good.”

Virgin Pulse and RedBrick are clear industry leaders in employee health, wellbeing and engagement, with each company delivering highly complementary capabilities to the market. To ensure the best possible experience for all clients, the combined company will continue to support and innovate on both the Virgin Pulse and RedBrick platforms, while making the best-in-class capabilities of each solution available across both client bases.

By the end of this year, Virgin Pulse clients will be able to access RedBrick’s health assessments, expert live and digital coaching, and benefits navigation through Virgin Pulse’s API-based framework, allowing Virgin Pulse to interact more deeply with members to optimize their health and wellbeing. In addition, RedBrick clients will have access to Virgin Pulse’s unparalleled challenge capabilities.

“Virgin Pulse and RedBrick are a logical fit, and it should be no surprise that we are finally coming together,” said Dan Ryan, CEO of RedBrick. “The merger is a win for the entire industry – clients, consumers, partners, consultants –  and raises the bar for what employers and employees should expect from their engagement partner. Combining our product portfolios and resources allows us to maximize our investments in R&D and operations, and ensures that our clients and consumers have access to the best, most innovative wellbeing and engagement solutions and services available.”

“Our investment, which brings together two leaders in the health and wellbeing market, underscores our strong belief in the potential to transform this highly fragmented industry,” said Michael Anderson, a managing director at Marlin Equity Partners which also recently acquired RedBrick Health. “This is a multibillion-dollar market that is hungry for innovation, desperate for disruption and ripe for consolidation, and we are committed to doubling down on these two leaders to move this market forward and unlock the value of employee health and wellbeing.”

Virgin Pulse is widely recognized for having the industry’s highest member engagement rates, with daily usage rivaling the most popular consumer applications such as Facebook and Twitter. The company’s flagship SaaS platform, Virgin Pulse Engage™, delivers personalized, mobile-first experiences that support employees in improving their health and wellbeing every day. RedBrick Health was an early pioneer in delivering outcomes-focused health and benefits engagement solutions, and is highly regarded for its customizable integration platform, digital and live coaching, health assessments, biometric screening services and award-winning experience. With highly configurable workflows, integration capabilities, strong expertise in custom program design and a successful record of serving complex, distributed organizations, RedBrick has firmly established itself as the partner of choice for large enterprises.

Together, Virgin Pulse and RedBrick have the largest customer base in the industry, with over 3,300 clients including public sector organizations, health plans, universities and more than 20 percent of the Fortune Global 500 companies. The combination of the two companies also creates an extensive and growing network of strategic ecosystem partners spanning mental wellbeing, financial wellbeing, sleep, nutrition, telemedicine, cost transparency, treatment decision support and more.

RedBrick and Virgin Pulse will unite under the Virgin Pulse name but continue to operate as separate brands. The combined organization will be based out of Virgin Pulse’s corporate headquarters in Providence, RI, and will maintain a major office in Minneapolis, MN and a coaching center in Phoenix, AZ. The company also has global centers of excellence in multiple international locations, including Australia, Canada, the United Kingdom, Switzerland, Bosnia, Brazil and Singapore.

Marlin is acquiring Virgin Pulse from its prior investors, including Insight Venture Partners. The merger is expected to close this month. Financial details of the transaction have not been disclosed. Evercore acted as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to Virgin Pulse. Raymond James & Associates, Inc. acted as financial advisor, and Goodwin Procter LLP served as legal advisor to RedBrick. William Blair & Company, LLC acted as financial advisor and Kirkland & Ellis LLP served as legal advisor to Marlin.

 

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Pramata Tackles Revenue Leakage Epidemic with New Targeted Solutions

BRISBANE, Calif. – May 10, 2018 – Pramata, the leading commercial relationship operations company, today announced its Spring ‘18 Release, which features four new targeted solutions that enable large B2B enterprises to eliminate widespread revenue leakage across the customer lifecycle.

“We are very excited to share these new targeted solutions with our customers and prospects,” said Justin Schweisberger, Pramata’s Chief Product Officer. “Revenue leakage stemming from deals that aren’t billed correctly, are mispriced or are overly-discounted is sapping customer lifetime value and we intend to help our customers stop it.”  

New Pramata Solutions

The potential for revenue leakage exists all along the customer lifecycle, specifically at four key points of inflection. Pramata has developed four specific solutions to target these areas that take full advantage of the company’s next generation platform:

Billing Accuracy: Eliminate Revenue Leakage with Every Invoice

Without access to the current pricing and commercial terms related to a specific order or service, missed revenue and customer under-charging can reduce revenue by 2% (hundreds of millions in revenue) annually.

Pramata’s Billing Accuracy solution connects commercial terms from MSAs, amendments, order forms and more to billing accounts. Pramata customers know with 100% certainty they are using the latest terms to generate every invoice. By marrying commercial terms with information from order management and billing systems, price uplift dates will be automatically calculated. And a robust API framework makes commercial terms available for use in downstream systems to simplify billing processes.  

Entitlement & Pricing Reconciliation: Ensure Customers are Meeting Commitments
By not regularly auditing pricing, billing and entitlements, companies expose themselves to tens of millions of dollars in missed revenue and service penalties every single year. 

Pramata’s Entitlement & Pricing Reconciliation solution provides the most up-to-date summary of all pricing commitments, entitlements and service obligations for more effective reconciliations and audits. Teams can quickly assess where non-standard terms exist and compare against actual billings and performance to ensure they realize the full value of their relationships. 

Deal & Order Acceleration: Accelerate Deals with Current Customers
When it comes to selling to existing customers, finding the right MSA, determining current pricing, and applying the right discounts can add weeks to a sales cycle. This challenging process also wastes active sales time, while leaving companies exposed to over- or under-discounting. For companies with a significant percentage of revenue from existing customers, this can add up to millions of dollars every year. 

Pramata’s Deal & Order Acceleration solution ensures that all commercial documentation—MSAs, amendments, order forms, and more—are captured into an always up-to-date, accurate record of pricing commitments, entitlements, and service obligations.

Account Research & Renegotiation: Enable a More Strategic Approach to Upsell and Renewal Opportunities
Every quarter, customer renewal and expansion negotiations represent an opportunity to revisit commercial terms and improve the economics of customer relationships. Unfortunately, most companies overlook this key revenue event each time it presents itself. Sales managers struggle to prioritize growth and renegotiation opportunities across portfolios, while account managers don’t have advance knowledge of accurate cross-sell and negotiation terms within their own accounts.

Pramata’s Account Research & Renegotiation solution transforms key commercial data such as available price increases, renewal dates, active products and customer entitlements. This information is compared against a customer-specific risk model to score each term and relationship from favorable to unfavorable and to let B2B enterprises prioritize actions both across a portfolio and within an account. Account teams have a summary of current commercial terms, renegotiation recommendations, and where to sell more.    

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Pramata Tackles Revenue Leakage Epidemic with New Targeted Solutions

The Spring ’18 Release includes four new solutions for large B2B enterprises

BRISBANE, Calif., May 10, 2018 (GLOBE NEWSWIRE) -- Pramata, the leading commercial relationship operations company, today announced its Spring ‘18 Release, which features four new targeted solutions that enable large B2B enterprises to eliminate widespread revenue leakage across the customer lifecycle.

“We are very excited to share these new targeted solutions with our customers and prospects,” said Justin Schweisberger, Pramata’s Chief Product Officer. “Revenue leakage stemming from deals that aren’t billed correctly, are mispriced or are overly-discounted is sapping customer lifetime value and we intend to help our customers stop it.”  

New Pramata Solutions
The potential for revenue leakage exists all along the customer lifecycle, specifically at four key points of inflection. Pramata has developed four specific solutions to target these areas that take full advantage of the company’s next generation platform:

  • Billing AccuracyEliminate Revenue Leakage with Every Invoice
    Without access to the current pricing and commercial terms related to a specific order or service, missed revenue and customer under-charging can reduce revenue by 2% (hundreds of millions in revenue) annually.

    Pramata’s Billing Accuracy solution connects commercial terms from MSAs, amendments, order forms and more to billing accounts. Pramata customers know with 100% certainty they are using the latest terms to generate every invoice. By marrying commercial terms with information from order management and billing systems, price uplift dates will be automatically calculated. And a robust API framework makes commercial terms available for use in downstream systems to simplify billing processes.
  • Entitlement & Pricing ReconciliationEnsure Customers are Meeting Commitments
    By not regularly auditing pricing, billing and entitlements, companies expose themselves to tens of millions of dollars in missed revenue and service penalties every single year.

    Pramata’s Entitlement & Pricing Reconciliation solution provides the most up-to-date summary of all pricing commitments, entitlements and service obligations for more effective reconciliations and audits. Teams can quickly assess where non-standard terms exist and compare against actual billings and performance to ensure they realize the full value of their relationships.
  • Deal & Order AccelerationAccelerate Deals with Current Customers
    When it comes to selling to existing customers, finding the right MSA, determining current pricing, and applying the right discounts can add weeks to a sales cycle. This challenging process also wastes active sales time, while leaving companies exposed to over- or under-discounting. For companies with a significant percentage of revenue from existing customers, this can add up to millions of dollars every year.

    Pramata’s Deal & Order Acceleration solution ensures that all commercial documentation—MSAs, amendments, order forms, and more—are captured into an always up-to-date, accurate record of pricing commitments, entitlements, and service obligations.
  • Account Research & RenegotiationEnable a More Strategic Approach to Upsell and Renewal Opportunities
    Every quarter, customer renewal and expansion negotiations represent an opportunity to revisit commercial terms and improve the economics of customer relationships. Unfortunately, most companies overlook this key revenue event each time it presents itself. Sales managers struggle to prioritize growth and renegotiation opportunities across portfolios, while account managers don’t have advance knowledge of accurate cross-sell and negotiation terms within their own accounts.

    Pramata’s Account Research & Renegotiation solution transforms key commercial data such as available price increases, renewal dates, active products and customer entitlements. This information is compared against a customer-specific risk model to score each term and relationship from favorable to unfavorable and to let B2B enterprises prioritize actions both across a portfolio and within an account. Account teams have a summary of current commercial terms, renegotiation recommendations, and where to sell more.    

About Pramata
Pramata helps large B2B enterprises eliminate revenue leakage. Pramata has created millions of dollars in value for some of the largest companies in the world including Allergan, CenturyLink, Comcast Business, FICO, NCR, Micro Focus, Novelis and Vertafore. Headquartered in Brisbane, CA. Pramata also has offices in Kansas City, MO, and Bangalore, India. For more information, visit www.pramata.com.

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GlobalTranz Reports Record First Quarter Revenues

Revenues increase 43% with a 118% increase in profitability

PHOENIX--(BUSINESS WIRE)--GlobalTranz Enterprises, Inc., a leading technology-driven third-party logistics (3PL) solutions provider, today reported a first-quarter revenue increase of 43 percent and earnings growth of 118 percent year over year. GlobalTranz continues to outpace many of its competitors in the industry through customer expansion, financial growth and technology leadership.

The company continued its technology leadership with the release of its next generation TMS technology. This includes additional features and benefits for shippers, carriers and the company’s independent freight agents. Among these are new capabilities around data analysis, predictive analytics, AImachine learning and actionable reporting. The company’s new platform is completely multimodal, multivendor, and multicurrency, and fully supports all mobile environments.

“As logistics increasingly becomes digitized, GlobalTranz is pioneering the use of new technologies to create efficiencies in supply chain operations,” said Greg Carter, CTO. “Our TMS platform is driving breakthrough innovation in digital freight matching, capacity sourcing, real-time visibility and predictive analytics. We’re enabling businesses to simplify their logistics management, uncover valuable insights, and make data-driven decisions that drive cost savings and operational transformation while creating competitive advantages.”

Commenting on the company’s record first-quarter results, Bob Farrell, chairman and CEO, said, “Our strong Q1 performance was the result of our continued focus on expanding our relationships with existing customers and winning new customers with advanced technology and products. We are excited to see our customer relationships become more strategic and focused on making logistics an integrated and differentiated part of their businesses.”

Company highlights for the first quarter of 2018 include:

  • Total revenue gains of 43 percent year over year
  • Total profitability increase of 118 percent over last year
  • Managed transportation freight under management growth of 33 percent
  • Released next generation multimodal, multivendor, multicurrency and fully mobile TMS technology featuring new data analysis, predictive analytics, machine learning and actionable reporting capabilities
  • Hosted a record number of attendees at the 2018 Freight Agent Conference
  • CFO Renee Krug named 2018 Distinguished Woman in Logistics by Women in Trucking Association

Additionally, GlobalTranz was named among the Top 10 Freight Brokerages in the U.S. by Transport Topics in April.

“Our rapidly growing managed transportation offering is allowing us to move up the value curve with our customers,” said Renee Krug, CFO. “Our commitment to building solutions that position our customers for market-leading growth is driving our financial performance.”

The company remains confident that it will continue its strong growth throughout 2018. “Both our freight agent and direct sales channels continue to demonstrate proven industry leadership. Our people and partners are the best in the industry, which is driving our success,” said Farrell. “Execution of strategic mergers and acquisitions will add to our current run rate of over $1 billion in revenue.”

For more information, visit www.globaltranz.com and follow us on LinkedIn and Twitter @globaltranz.

About GlobalTranz

GlobalTranz is a technology-driven freight brokerage company specializing in LTL, full truckload, third-party logistics and expedited shipping services. GlobalTranz is leading the market in innovative logistics technology that optimizes the efficiency of freight movement and matches shipper demand and carrier capacity in near real time. Leveraging its extensive freight agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 25,000 shippers. Transport Topics ranked GlobalTranz as the 10th largest freight brokerage firm in the U.S. for 2018.

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