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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Insite Software Adds Veteran Tech Executive Ken Walters to Board of Directors

MINNEAPOLIS, May 1, 2018 /PRNewswire/ -- Insite Software, a leading provider of B2B eCommerce solutions, is pleased to announce the appointment of Ken Walters to the company's Board of Directors.

"Ken's expertise in leading high-growth technology companies will be invaluable to the Insite Board, and our entire team," said Steve Shaffer, Chief Executive Officer of Insite Software.  "He brings deep knowledge and experience in developing innovative software solutions and understands the key challenges facing manufacturers and distributors. We're looking forward to his contribution as we work to further strengthen Insite's market position as the leader in B2B eCommerce."

Walters previously served as President and Chief Operating Officer at Infor, one of the largest privately held software companies in the world. During his tenure, he was responsible for all day-to-day operations including sales, marketing and customer success as the company grew from $40 million to $2.2 billion.  Additionally, he led the integration of 25 acquisitions with a strong focus on industry-specific solutions for mid-market manufacturers and distributors.   

"InsiteCommerce® is clearly the strongest B2B eCommerce solution on the market today for mid-sized manufacturers, wholesalers and distributors," said Walters. "I'm excited to contribute to the company's overall strategy, and to lend my expertise to the successful implementation of that vision."

During his career, Walters has also served as Chief Operating Officer of Internet Security Systems as well as a Managing Partner at Coopers & Lybrand. He also serves as a director and advisor for a number of successful privately held SaaS companies, including Blue Ridge Software, Izenda, QASymphony, Kobiton, Synthio and Prevalent.

About Insite Software – Insite Software™ is the leading provider of powerful digital commerce solutions architected for manufacturers and distributors. The InsiteCommerce® Suite of products goes beyond commerce to connect people, products and channels for a rich, omnichannel experience. We believe eCommerce is more than a website. It's about transforming your business and delivering a best-in-class experience for your customers, partners and sales team across the organization. With more fully-supported, native, B2B capabilities out-of-the-box than any other platform in the marketplace, paired with built-in extendability, Insite delivers digital commerce without compromise. Insite is one of only two companies in the world to be recognized as a leader within both of Forrester's 2017 Enterprise and Midmarket B2B eCommerce reports.

For more information, visit Insite Software at insitesoft.com.
Talk to us on Twitter, circle us on Google+ and get to know our company on LinkedIn and Facebook. For B2B commerce best practices and tips, read our blog.

Built for B2B, Insite provides an unmatched depth and breadth of native capabilities out of the box to handle the complexity B2B companies face, allowing them to transform their businesses and power their digital commerce strategies with a minimum of expensive customizations.

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Venture Capitalists Talk About the Big Investments They Didn’t Make

How does it feel to pass up the next Facebook? Or Lyft? Investors share their stories.


Read the full article here.

By Rob Curran

Being a venture capitalist means placing bets. Sometimes you hit it big with a startup. Sometimes you lose everything.

But sometimes you never place a bet at all—and end up missing out on an idea that turns out to be a multibillion-dollar winner.

One long-established venture-capital firm, Bessemer Venture Partners, lists its multibillion-dollar misses under the heading of “the Anti-Portfolio” on its Web site, memorializing, among other things, a partner’s description of a pre-IPO Apple as “outrageously expensive.”

We asked some seasoned investors to share their stories about the big chance that got away. Why did they pass on these startups? What didn’t they see that somebody else did? And what lessons did they take away from the experience that helped them make better decisions down the line?

Larry Cheng was a junior associate at venture-capital firm Battery Ventures when he heard about “The Face Book.” 

There might just be one thing worse than missing out on a bonanza by making the wrong call on an investment: missing out after making the right call.

In 2004, Larry Cheng was an associate at venture-capital firm Battery Ventures in the suburbs of Boston. He pitched investments to a committee of superiors but never had the final say.

In March of that year, he attended a Harvard University alumni event. During his visit, he asked some students what was new on campus.

“Everybody was saying, check out ‘Thefacebook,’ it’s blowing up on campus,” says Mr. Cheng, who estimated what was then an online Harvard student directory was about four weeks old.

Years later, in a blog post, Mr. Cheng described his “aha moment.”

“They had uploaded the Harvard course catalog into the network so that with a single drop-down menu, you could sort the entire network by those taking the same class as you,” Mr. Cheng, now a managing partner at Volition Capital , wrote on his blog.

That feature allowed students to find out more about classmates, a utility whose appeal would be clear to anyone who has ever had a classroom crush.

According to Mr. Cheng’s account and his records, he contacted Mark Zuckerberg electronically and arranged to meet him at the Charles Hotel in Cambridge. Mr. Zuckerberg brought a friend, Facebook co-founder Eduardo Saverin.

The duo’s ambition was clear, according to Mr. Cheng, but what really impressed him was their focus.

“They were focused on solving a problem for one college campus, and they did it in a very good way,” Mr. Cheng says. “They limited their focus and scope, then rolled out to a few more college campuses and solved the same problem.…That would not have existed if they had just opened to the masses.”

The next meeting was over breakfast back at the Charles Hotel. Mr. Cheng could tell the two students were “unaccustomed” to the morning schedule. “They came in looking a little bleary-eyed,” he says. The students’ apparent aversion to the early hour didn’t color Mr. Cheng’s impression of them, however, as he remembered being the same way himself.

The final meeting was in Battery Ventures’ former Wellesley offices in May 2004, Mr. Cheng says. In the intervening weeks, according to Mr. Cheng, Facebook had launched at about 20 other top-tier schools.

Mr. Cheng realized Messrs. Zuckerberg and Saverin probably couldn’t afford a taxi back to campus. So he gave the pair—who now have a combined net worth of about $80 billion—a lift back to Cambridge and $40 for the ride to Wellesley. It was, unfortunately for Mr. Cheng, the only stake that changed hands.

Mr. Cheng says he sent a memo to his superiors in Battery Ventures, extolling the potential of an investment in what became Facebook. He says he heard many objections to the idea. The principal impediment was an existing bet that Battery Ventures had made on Friendster—venture-capital firms seldom back two direct competitors. Other objections included the “limited scope” of the network at that stage and the employment status of the company founders.

Ultimately, Mr. Cheng says, he failed to persuade his superiors.

“Hindsight is 20/20,” says Battery Ventures General Partner Scott Tobin, in an email. At the time, he says, Friendster was popular in the Philippines, a huge market of social-media users. “Unfortunately, that didn’t make up for air-balling one of the most successful venture investments of all time.”

Facebook didn’t respond to requests for comment on the contact between the two firms.

One of the lessons Mr. Cheng learned from his brush with Facebook was the importance of persevering with strong hunches.

“In retrospect, I should have pushed the opportunity more aggressively, even though consensus was hard to come by—not just because Facebook was a historic success but because I’ve since learned that the best investments are never obvious at the time and it is so important to follow your convictions,” he says.

Mr. Curran is a writer in Denton, Texas. Email reports@wsj.com.

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Securonix Wins Big At Cybersecurity Excellence Awards 2018

ADDISON, Texas, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Securonix, the market leader in big data security analytics and user & entity behavior analytics today announced that it won multiple awards in multiple categories at this year’s Cybersecurity Excellent Awards. Securonix won a trio of product and company awards being awarded Gold for “Most Innovative Cybersecurity Company”, and for “Best UEBA Product” categories, and Bronze for “Best SIEM Solution”.

The 2018 Cybersecurity Excellence Awards honor individuals and companies that demonstrate excellence, innovation and leadership in information security. Nominations are evaluated by a 400,000 member Information Security Community and are judged based on the strength of their nomination and the popular vote.

Securonix is reinventing the well established security information and event management (SIEM) market with its innovative data sciences and machine learning approach on an open Hadoop platform. Securonix Next-Gen SIEM, Securonix UEBA, and Securonix Cloud leverage the disruptive approach to dramatically improve sophisticated threat detection and reduce the time to identify, investigate and respond to cybersecurity incidents. Securonix is the only vendor to deliver its security analytics and UEBA solutions as enterprise software and a hosted cloud solution.

Securonix Next-Gen SIEM is a complete security data collection, threat detection, forensic analysis/threat hunting and incident response platform that puts the SOC security analyst in control of their security management program. Securonix enables customers to detect insider and outsider attacks before it’s too late, transform access management programs into measurable, high-value business initiatives, slash compliance costs related to monitoring and access reviews with identity-based pricing, and start protecting critical information assets and resources using predictive analytics management techniques.

Securonix UEBA focuses on insider threat, cyber threat, fraud and cloud security by monitoring and identifying high risk users to find suspicious user behavior across devices, networks and locations. Securonix UEBA is purpose-built to rapidly detect anomalous access, privilege misuse, data exfiltration, fraud, and account takeover by analyzing and cross-correlating interactions between users, systems, and data.

About Securonix.
Securonix, the leader in Security Analytics, uses the power of Hadoop and machine learning technology to radically transform enterprise security with actionable intelligence. Our purpose-built UEBA and Next-Gen SIEM platforms consume, enrich and analyze massive volumes of data in real-time to detect and prioritize the highest risk threats to organizations. Using out of the box content, Securonix detects insider threat, cyber threat, cloud and fraud attacks automatically and accurately. Visit us at https://www.securonix.com.

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TraceLink Achieves 97% Revenue Growth in Q4 and 85% Overall Revenue Growth for 2017

NORTH READING, Mass., Feb. 12, 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 financial and company results for the fourth quarter and full year of 2017.

Quarterly and annual growth highlights for 2017 include:

  • An 85 percent year-over-year increase in overall revenue for 2017;
  • A 97 percent year-over-year increase in Q4 revenue, including record Q4 revenue growth in the following regions:
    • 292 percent revenue growth in EMEA;
    • 426 percent revenue growth in India; and,
    • 546 percent revenue growth in APAC.
  • A 68 percent year-over-year increase in all bookings for 2017;
  • A two-year revenue compound annual growth rate (CAGR) of 70 percent; and,
  • A 68 percent year-over-year increase in global employee growth for a total of 400 employees located in the Company's five global office locations.

"This past year was a collection of major accomplishments for the company as we successfully expanded our global market leadership position in the US, EMEA and APAC and increased worldwide customer adoption of the Life Sciences Cloud," said Shabbir Dahod, president and CEO, TraceLink. "2018 is a pivotal year for both the US and Europe as companies finalize their serialization preparations to meet their respective November 2018 and February 2019deadlines. With our proven Life Sciences Cloud and information-sharing network, companies can rest assured that TraceLink is their long-term partner in helping them derive transformative value from a truly digital supply chain – from compliance and operational efficiency to patient engagement."

Additional Q4 2017 growth highlights and milestones include:

  • Demonstrating the largest customer base in the industry across 33 countries - with a total of more than 775 TraceLink customers and over 265,000 partners on the Life Sciences Cloud,  spanning all segments within the global pharmaceutical supply chain, including:
    • 51 percent representing pharmaceutical and contract manufacturers;
    • 6 percent representing wholesale distributors and parallel importers; and
    • 43 percent representing pharmacies, hospitals and health systems.
  • Unveiling FutureLink, a new and innovative annual gathering of industry executives - dedicated to achieving regulatory compliance and shaping the future of digital drug supply with information sharing networks. FutureLink Munich will take place in June 2018 and FutureLink Chicago will take place in November 2018.
  • Achieving the greatest volume of pharmaceutical companies live in production – with more than 180 companies shipping serialized product with TraceLink solutions and commissioning more than 550 million serial numbers.
  • Unveiling results from the industry's largest survey on serialization readiness in the U.S. and EU – with data from 660 respondents in the 2nd Annual Global Drug Supply, Safety and Traceability Report demonstrating the current state of serialization readiness.
  • Expanding the industry's only community for serialization stakeholders across the supply chain – adding 300 new members to the TraceLink Cloud Community during the fourth quarter, totaling over 3,400 Cloud Community members representing more than 700 companies in the life sciences supply chain.
  • Processing global compliance reports for millions of product units – processing over 52,000 compliance documents for more than 150 million units of product in the EU, China, Brazil, India and South Korea.

About TraceLink

TraceLink is the World's Largest Track and Trace Network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses trust the TraceLink Life Sciences Cloudto deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including three consecutive years on Deloitte's Technology Fast 500 (ranked number 177 in 2017), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedInTwitter and Facebook.

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Connatix Expands Video Syndication Offerings with New Chief Revenue Officer

Jennifer Chen To Accelerate Programmatic Channel Partnerships And Monetization

EW YORK, Feb. 8, 2018 /PRNewswire/ -- Connatix, the most advanced video syndication and monetization platform for publishers, today announced the appointment of Jennifer Chen as the company's first Chief Revenue Officer (CRO).

Connatix, which has quickly emerged as the leader in video syndication, is increasing the breadth of its impact for publishers by building out more programmatic execution channels, including programmatic direct sponsorship packages and private marketplace deals for their premium content. Chen, as the CRO, will lead these efforts, along with oversee partnerships with the major DSPs and trading desks.

Chen joins Connatix from Sizmek, formerly MediaMind, where she was the VP/GM of Programmatic, Americas. During her time with Sizmek, she built out the global programmatic business from less than $10 million to over $50 million, within 3 years.

In addition to her accomplishments within the digital advertising space, Jennifer is also the co-Founder and President of Givology, a nonprofit platform which connects donors to students in need, in over 25 developing countries. She brings both her wealth of industry experience and sense of communal responsibility to Connatix.

"As a publisher first company, we have built, in the past four years, the largest independent syndication network in the US, powering more than 3000 publisher sites," said David Kashak, Founder and CEO of Connatix. "We have seen a tremendous success in private marketplace executions for our premium publishers, and we are prioritizing our efforts in building a wider programmatic footprint. Jennifer brings a proven track record in scaling such business."

"Connatix combines a lot of what is rare in the world of digital advertising companies. They have a strong business model which is anchored by value creation for all parties in its marketplace, clients who have promoted and referred them, high growth multiples, differentiated technology, and a team that loves to win together," said Chen. "I am excited to be the latest member of that team."

For more information on Connatix, please visit www.connatix.com.

About Connatix

Connatix (www.connatix.com) is the technology layer underlying the largest independent video syndication network in the U.S (Ranked #3 in Comscore). Publishers such as Mashable, Entrepreneur, and Time Inc. are using Connatix technology to syndicate their video content to curated affiliates sites and monetize. Connatix has created a strong foothold in the native advertising world since its founding in 2014, working with more than 3,000 publishers and partners.

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