Aragon Research Names Insite Software a 2016 Hot Vendor in Sales Enablement

Leading B2B commerce provider included in prestigious list for sales enablement

Minneapolis, Minn. - May 10, 2016 — Insite Software, a leading provider of business-to-business (B2B) commerce and data-driven solutions for manufacturers, wholesalers and distributors, announced it has been named to Aragon Research’s list of six Hot Vendors in Sales Enablement, 2016. The new report states, “2016 Hot Vendors in Sales Enablement reflect the growing trend of the growth of different segments in the Sales Enablement market.”1

Founded and led by former Gartner Managing Vice President Jim Lundy in 2011, Aragon Research leverages more than 50 years of combined end user, vendor and analyst know-how to help enterprises make better technology and strategy decisions.

“As you can tell from the small number of software providers we’ve profiled, Aragon is extremely selective when choosing companies for the Hot Vendor List,” said Lundy, chief executive officer (CEO) and lead analyst for Aragon Research. “Many of our Hot Vendors have gone on to do very well over the last three years, including several that launched successful IPOs.”

Aragon Research defines a Hot Vendor as a “new or emerging software vendor who offers a cutting-edge product, service or technology; has made an impact in their respective marketplace; and is known for ‘delighting their customers.’”2 The research firm selected this year’s group of sales enablement vendors primarily because each solution was viewed as helping sales organizations sell more effectively and more productively. In addition, analysts reviewed nominations based on each solution’s sales content management and mobile delivery capabilities, and ability to drive customer engagement. 

“Combining our commerce capabilities with a digital content delivery platform empowers sales teams in a way no other B2B ecommerce solution can,” said Tony Abena, CEO of Insite Software. “Insite bridges online and offline buying, and connects buyers and sellers for a seamless B2B buying experience. As a result, sales reps become significantly more strategic and effective in key B2B selling situations.”

Via its powerful analytics capabilities, Insite’s Storyworks1 digital content delivery platform empowers B2B sales professionals to determine the most effective content for any customer buying scenario. By combining this digital content delivery with Insite’s commerce capabilities, sales people are empowered to add more value to their client interactions, help clients deal with multiple sales scenarios and understand which content works best in specific sales engagements. Insite’s solutions also integrate with leading marketing automation, content management, CRM, ERP and learning management platforms to reduce technology overlap and increase user engagement.

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Assent Compliance secures $20M in drive to accelerate growth

 

Read the full article here.

Andrew Waitman didn’t really appreciate Assent Compliance at first. When he joined the Ottawa software firm as CEO two years ago, Assent employed just 25 people.

The company was run by boxing enthusiasts — a passion Waitman shared — and home to some razor-sharp programmers. It had been around since 2005. It was potentially interesting but, on the surface, underachieving.

But soon enough, Waitman saw something he liked about the firm, and he went to work.

Assent now employs 165. On Wednesday it will announce a $20 million equity investment from a group of venture capitalists, including Volition Capital of Boston and a fund run by Open Text of Waterloo.

The firm said it will use the new capital to expand operations and boost employment by roughly 100 over the next 18 months.

 

“You have to get into a company to understand what’s really there,” Waitman said. “They had bootstrapped this operation without the help of venture money and were selling their products to top corporations around the world,” he added. “They had accomplished something amazing.” 

Assent makes a living doing that most Ottawa of things – verifying that the suppliers for multinationals are complying with ever-proliferating government regulations. Those regulations cover everything from product safety and labour laws to the use of chemicals and other materials that go into products.

Corporations potentially can lose multi-million contracts if just one piece of their supply chain is found to be in violation of local regulations or laws. So this is important business.

To accommodate expected growth, Assent has opened a new headquarters across from the St. Laurent Shopping Centre in the city’s east end. Dominating the main floor is an Olympic-size boxing ring.

It’s not just a symbol. The firm’s founding directors – Matt Whitteker and Rob Imbeault – have organized the Fight for the Cure charity boxing match. In 2012, the charity attracted worldwide attention with a bout that featured Liberal Leader Justin Trudeau and Senator Patrick Brazeau.

That was the same year Waitman took up the sport. He was 44. On his first day of training, Waitman was put through the paces by the manager of the gym at the time, Matt Whitteker. Coincidentally, Whitteker was also helping to train Trudeau and briefly put the two pugilists together in the ring.

“I didn’t recognize him at first,” Waitman said referring to Trudeau. “Here was this guy covered in tattoos with headgear on. He’d been boxing for years and I’d been doing it for 30 minutes. I was physically drained.”

In 2014, during one of his regular sparring matches with Whitteker, Waitman revealed he was leaving his job as CEO of Pythian, a data outsourcing specialist. “Come have a look at Assent,” Whitteker offered between jabs.

Pythian was Waitman’s first crack at running a high-tech firm. He had spent much of his early career as a venture capitalist – with Celtic House Venture Partners – where he learned to evaluate revenue potential in startups. During the 2008 global financial crisis, Waitman wanted to focus limited resources on North America. But his Celtic House partners favoured a more global outlook.

Waitman left the partnership in part to advise Pythian co-founder and owner Paul Vallée — a role that morphed into a job as full-time CEO. Vallée served as executive chairman until August 2014, when he took over as chief executive once more.

Waitman recalls that when he arrived at Pythian in 2008, the company employed about 50. By 2014, Pythian’s workforce topped 300 — and today employs more than 400.

What’s the secret? It helps to build on solid foundations. Pythian anticipated the trend that saw many corporations outsource the storage and analysis of data. 

But Waitman insists there’s an equally important ingredient. “It’s a matter of building a leadership team,” he notes. With the right managers and executives in place, he said, tech firms can grow at impressive rates for extended periods.

Pythian’s revenues soared to $64.3 million last year from $12 million in 2010, according to estimates prepared by The Branham Group, an Ottawa consulting firm. This represents compound annual growth of 40 per cent, most of it done without the help of acquisitions.

It’s a delicate balancing act. Top executive talent requires significant upfront investment in salary and other incentives. During the past year, Waitman has bolstered Assent’s executive group significantly, including the hiring of Russell Frederick as chief financial officer (formerly with DragonWave) and Martin Sendyk as chief product officer (formerly Irdeto).

In part, this is why Assent is selling $20 million of its privately held shares — which still leaves the founding directors and other employees with majority control. But the cash will also be used to expand operations in Manhattan, Britain and to open another U.S. office. Assent claims to be selling its compliance software and services to more than 150 members of the corporate club known as the Standard & Poor’s 500 — comprising the largest public firms on Nasdaq and the New York Stock Exchange.

While this tells us little about whether these relationships are truly solid, it does hint at the possibilities here.

Waitman understands more than most how few tech firms can successfully manage the transition from upstart to giant. He’s got experience, energy and ambition. Assent just might last more than a few rounds.

 

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Assent Compliance Raises $20 Million Investment to Drive Global Growth

 

Read the full article here.

Ottawa’s Assent Compliance has raised $20 million.

The software as a service and data firm raised the money from Boston-based Volition Capital as well as from OpenText Enterprise Application Fund (OTEAF), Business Development Bank of Canada (BDC), National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), Royal Bank of Canada (RBC) and private investors.

The Canadian company provides an all-in-one compliance automation platform for organizations required to comply with a variety of product stewardship, materials management and ethical sourcing regulations.

Assent currently has 165 employees; with this new funding it plans to hire up to 100 new workers within the next 18 months.

“We evaluate a lot of technology companies in a wide variety of industries,” said Sean Cantwell of Volition Capital. “Once in awhile, we come across an opportunity like Assent Compliance where we see a great leadership team, a sizable unmet market need, a track record of success and a leading product solution.”

“We are delighted to be partnering with the Assent management team,” said Richard Black, General Partner at OpenText Enterprise Apps Fund. “Assent Compliance has demonstrated their capabilities with proven success working with top tier customers.”

“These are the best times to be rapidly growing a global SaaS company,” said Andrew Waitman, CEO of Assent Compliance. “With Volition’s and our investment groups’ infusion of growth capital, we gain the scale and critical mass to partner with the world’s best companies, protect their brand and ensure they have unfettered access to global markets.”

Assent was founded in 2005.

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Assent Compliance Attracts $20 Million Investment To Drive Global Growth

Ottawa, ON - Assent Compliance, an Ottawa-based software as a service (SaaS) and data firm, will continue its drive for innovation and excellence in the regulatory compliance space with the addition of $20 million in growth capital funding.

The investment is led by Boston-based Volition Capital with participation from OpenText Enterprise Application Fund (OTEAF), Business Development Bank of Canada (BDC), National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP), Royal Bank of Canada (RBC) and private investors.

Assent Compliance provides a comprehensive all-in-one compliance automation platform for organizations required to comply with a variety of product stewardship, materials management and ethical sourcing regulations. The funding will enable Assent Compliance to continue to invest in its platform and increase the number of team members across all divisions, particularly in R&D and Product Management. With a current headcount of 165, this growth will involve an additional 100 new hires over the coming 12-18 months.

“We evaluate a lot of technology companies in a wide variety of industries,” said Sean Cantwell of Volition Capital. “Once in awhile, we come across an opportunity like Assent Compliance where we see a great leadership team, a sizable unmet market need, a track record of success and a leading product solution. We are excited to be partnering with the Assent team to help build a meaningful and sizable business that continues to address the many compliance needs of its customers.”

“We are delighted to be partnering with the Assent management team”, said Richard Black, General Partner at OpenText Enterprise Apps Fund. “Assent Compliance has demonstrated their capabilities with proven success working with top tier customers. With the support of an outstanding syndicate of investors, Assent has a unique opportunity to become the global leader in the compliance automation market. “

Global supply chains are complex. Companies are often required, by law, to survey their supply chains to ensure materials are sourced ethically, workers are treated fairly, products are safe and their environmental impact is limited. Assent currently works with over 30 percent of S&P 500 product companies and a network of over 300,000 supplier companies globally to ensure compliance with these regulations.

Assent Compliance helps clients incorporate best practices into their compliance programs and provides them with the tools to survey their supply chains efficiently, without incurring extravagant costs. Assent Compliance also provides educational materials for companies and suppliers to stay ahead of the regulatory curve through an internally-developed, integrated learning management system.

“These are the best times to be rapidly growing a global SaaS company,” said Andrew Waitman, CEO of Assent Compliance. “With Volition’s and our investment groups’ infusion of growth capital, we gain the scale and critical mass to partner with the world’s best companies, protect their brand and ensure they have unfettered access to global markets.”

In the midst of an evolving global regulatory landscape, companies turn to Assent Compliance to fulfill an integral role in the compliance process.

About Assent Compliance:

Assent Compliance, founded in 2005, enables companies to manage and streamline their supply chain and product compliance efforts to ensure their products meet the standards of various market access regulations. Assent currently works with over 30 percent of S&P 500 product companies and thousands of small and medium-size businesses globally.

About Volition Capital:

Volition Capital is a growth equity firm based in Boston, Massachusetts. The Volition team principally invests in high growth, founder-owned companies across different technology sectors. Volition Capital currently manages a portfolio of 17 market leading companies.

About OTEAF:

The OpenText Enterprise Apps Fund (OTEAF) was formed in 2015 and invests primarily in emerging Canadian technology companies that are building disruptive, enterprise applications that leverage the power of the internet, big data, predictive analytics and mobility. OTEAF has offices in Toronto, Ontario and Montreal, Quebec. www.oteaf.vc

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Patrick D. Quirk Joins Pramata Board of Directors

Quirk brings 25+ years of C-Level leadership experience, including Emptoris (an IBM Company), Achievers, Oracle and PeopleSoft, to the Pramata board

BRISBANE, CA – May 3, 2016.  Pramata, the Customer Relationship Intelligence (CRI) company, today announced that Patrick D. Quirk has joined the company’s Board of Directors. Quirk brings more than 25 years of experience in CRM, ERP, finance, supply chain and other high-tech industries, including senior executive leadership at GoldenGate Software, Oracle and PeopleSoft.

As the CEO of Emptoris, Quirk helped the company win and grow more than 200% in 2.5 years.  He was responsible for an organization of 750+ global professionals and oversaw the acquisition by IBM.

“It is an incredible opportunity to join the Pramata board,” said Quirk, founder and general partner of ORCA Equities, LLC. “I’m excited to be part of this visionary team that empowers companies with the intelligence to proactively grow, manage and retain their most rewarding business relationships. The combination of Pramata’s cutting-edge CRI technology and end-to-end delivery approach truly sets Pramata apart in the value we bring to Global 2000 organizations.”

The Pramata Customer Relationship Intelligence (CRI) solution extracts and synthesizes essential information about customers from contracts, billing systems and deal documentation.  Sales, finance, legal and operations teams at B2B companies rely on it to take action on key questions about valuable customer relationships, such as:

·         what has my customer agreed to purchase and what have they paid for?

·         what pricing and discounts are in effect?

·         what are the key dates and triggers?

·         what are the documents that define this customer relationship?

·         what are the risks and opportunities with this account? 

This information is missing or fragmented across CRM, ERP, Configure Price Quote (CPQ), Customer Success Management and other automation solutions, and requires labor-intensive manual processes to access. Pramata’s capabilities extract and present this valuable information in relevant context for companies—accelerating profitability, efficiency and revenue growth objectives. Pramata serves some of the most recognizable companies in telecom, pharma, enterprise software and manufacturing across the Fortune 2000.

“We are thrilled to have Patrick Quirk join our Board of Directors. His customer focus and proven track record in helping fast-track customer success will greatly contribute to Pramata’s growth,” said Praful Saklani, Pramata co-founder and CEO. “His collaboration further validates that Customer Relationship Intelligence is key to empowering world-class companies with the actionable information they need to effectively manage and grow their most valuable relationships.”

About Pramata

Pramata is the Customer Relationship Intelligence company. Its solutions help large B2B companies grow, manage and retain their most complex and valuable customer relationships. Pramata is headquartered in the San Francisco Bay area. More information is available at www.pramata.com.

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Insite Software Kicks Off 2016 With Record Sales

Leading B2B ecommerce and sales enablement provider sets new quarterly sales record, accelerates customer momentum and receives industry recognition during first quarter of 2016

MINNEAPOLIS, MN -- (Marketwired) -- 04/13/16 -- Insite Software, a leading provider of business-to-business (B2B) commerce and data-driven solutions for manufacturers, wholesalers and distributors, today reported a powerful first quarter of 2016 including record sales, major industry momentum, and the release of the latest version of its B2B ecommerce and sales enablement platform.

"Insite's first quarter of 2016 represents the culmination of energy and commitment from team members across the entire company," said Tony Abena, chief executive officer (CEO) of Insite Software. "All our hard work is paying off, as more organizations and the industry at large recognize the unique business benefits our connected commerce platform can deliver." Abena added the company's forecasts show momentum will continue to build throughout the remainder of 2016 as well.

Specifically, Insite realized major advancements in key areas of the company's operations, including:

The biggest sales quarter in company history - In the first three months of 2016, Insite increased product revenue by 65 percent year-over-year, with the highest quarterly bookings in Insite history.

Increased customer and partner momentum - Record numbers of enterprise and mid-market customers selected Insite or went live with Insite-powered websites and portals during the first quarter of 2016. Additionally, during Q1 many customer sites were successfully implemented with the help of an exclusive team of experienced and certified delivery services partners, including Avanade, ICF International, RDA Corp. and Xcentium.

Continued industry recognition - In addition to Forrester's ranking of Insite Software as a Leader in its "The Forrester Wave™: B2B Commerce Suites, Q2 2015"(1) last year, Insite announced in March 2016 it is one of 18 vendors included in a new Forrester Research report entitled "Vendor Landscape: Sales Enablement Automation (SEA) Solutions."(2)

Increased intellectual capital - Insite's executive team gained considerable enterprise technology knowledge and expertise with the appointments of industry veterans Kari Seas to the role of vice president of marketing and Chad Caswell to the position of senior director of engineering; and the promotion of Vice President of Customer Success Jon Greene to senior vice president of commercial success.

Realization of Insite's connected commerce vision - In the first quarter of 2016, Insite marked a major step toward delivering on its connected commerce vision via an initial integration with the Storyworks1 sales enablement/digital content delivery platform it acquired in November 2015. With this integration, sales reps gain a holistic view of customer activity across online and offline sales channels via mobile access to up-to-date customer, order-history and order-status data stored in core, back-end business systems (such as CRM and ERP). Also released in Q1 were extensive architectural and functional enhancements to Insite's commerce platform, including a re-designed and re-architected administration console.

About Insite Software
Insite Software's connected commerce platform brings together commerce, physical sales channels and content/data to drive better B2B buyer and B2C user experiences, and higher sales. Leading global manufacturers, wholesalers and distributors rely on Insite to better engage digitally with buyers and sellers via B2B websites such as customer/buyer portals, sales portals, partner portals and dealer portals. The Insite technology fully integrates with leading ERP, CRM and web content management systems, and can be flexibly deployed either on premises or in public/private clouds. Learn more about Insite Software at www.insitesoft.com. 

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LoanLogics Successfully Completes New Round of $10 Million in Equity Funding

Funds will support its continued growth, expansion of origination technologies and increased research and development

LoanLogics, a recognized leader in loan quality management and performance analytics technologies for the mortgage industry, has announced that it raised $10 million dollars in funding, led by Blue Cloud Ventures with participation from existing investors, including Volition Capital. LoanLogics plans to use the funds to fuel its continued growth, support its expansion into origination technologies, and for research and development to further advance its technology leadership.

Blue Cloud Ventures is a New York-based growth and late-stage co-investment fund that invests in highly successful, innovative and fast-growing cloud enterprise software companies. "Lenders continue to face more demands on their time from regulators and the stakes of non-compliance are greater than ever," said Mir Arif, General Partner of Blue Cloud Ventures. "LoanLogics has developed a reputation for solutions that rely on sophisticated technology to satisfy regulatory issues, starting when the borrower applies for a mortgage until the mortgage is paid off," said Rami Rahal, General Partner of Blue Cloud Ventures.

As part of the $10 million dollar raise, Volition Capital, a Boston-based growth equity firm that invests in high growth, market leading technology companies, has increased its investment in LoanLogics. "Regulators continue to focus much of their attention on establishing regulations designed to ensure loan quality," said Roger Hurwitz, Managing Partner of Volition Capital. "Lenders require a way to stay compliant and that requires automation to process loans with the confidence that issues will be flagged and resolved well before the loan closes and across the entire loan life cycle." Volition Capital has been an investor of LoanLogics' since 2013.

"This latest investment in our company will help fund our continued expansion as a well-capitalized enterprise technology leader," said Brian K. Fitzpatrick, President and CEO of LoanLogics. "We have emerged as the preeminent loan quality management and performance analytics technologies provider. We want to continue to move the industry forward with leading-edge, efficient technology that truly moves the needle forward with respect to reducing lender production costs."

About LoanLogics

LoanLogics was founded eleven years ago to improve the transparency and accuracy of the mortgage process and improve the quality of loans. LoanLogics serves the needs of residential mortgage lenders, servicers, insurers, and investors that want to improve loan quality, performance and reliability throughout the loan lifecycle. It develops advanced solutions that help clients validate compliance, improve profitability, and manage risk during the manufacture, sale and servicing of loan assets. Achieving these goals was the motivation in the development of the industry's first Enterprise Loan Quality and Performance Analytics Platform. To learn more, visit www.loanlogics.com.

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8 Companies earn Industry Leaders of Arizona Awards

 

Hundreds of Arizona’s best and brightest business leaders gathered Thursday at Chateau Luxe as Az Business magazine presented the 2016 Industry Leaders of Arizona Awards

Presenting sponsors for the ILoA Awards were Arizona Central Credit Union, Clark Hill, CRESA, Lovitt & Touche’, RSM and Teladoc.

The Industry Leaders of Arizona Awards recognize the contributions and impact of Arizona‐based companies on both the economy of Arizona and in the communities they serve.

Winners were selected is five key industries: Healthcare, hospitality, logistics/distribution, retail and staffing companies. In addition, three special awards were presented.

 

Winners were:

STAFFING COMPANIES: Govig and AssociatesIn the 50-year history of Management Recruiters International, only two franchises of the more than 500 franchises in the network have exceeded $10 million in revenue.  Govig & Associates is one of those two franchises. Govig’s methods help companies develop their own internal talent as they plan for growth and succession as well as creating a brand on the college campus to allow for continuous flow of the best and brightest new talent.

LOGISTICS/DISTRIBUTION: OnTrac. Celebrating its 25th year in business in 2016, OnTrac has grown to become a top choice for e-commerce and companies looking to speed up delivery without the cost of express shipping. As the third-largest overnight company in the United States, OnTrac continues to innovate and provide shipping solutions. In 2014, OnTrac launched DirectPost and became the first regional carrier to offer a USPS package consolidation service. Through DirectPost, OnTrac is able to service 92 percent of its market areas with DDU injection from DirectPost.

RETAIL: DriveTime AutomotiveOver the past 14 years, DriveTime distanced itself from the status quo by changing its company culture to separate itself from its competition. DriveTime’s eighth-generation proprietary credit scoring model it to offer financing to individuals that are turned down elsewhere. DriveTime isn’t just a used car dealer. It is a bank and a 131 dealership-strong network. In the past three years, DriveTime has spun off three new companies that now operate under their own merit.

HOSPITALITY: PRO EM Party and Event Rentals. PRO EM is the combined talent and assets of the former Arizona Tents and Events, Gorilla Companies, Distinctive Tents in Denver and Party Concepts in Tucson. Its team has produced more than 25,000 events and maintains Arizona’s largest tent and structure inventory. PRO EM achieved a 99 percent diversion rate at the Waste Management Phoenix Open, the largest attended golf tournament in the world.

HEALTHCARE: Phoenix Children’s Hospital. With a medical staff of more than 1,000 specialists, PCH provides the most comprehensive and complex pediatric care in Arizona with access to more than 70 subspecialties. For the fifth consecutive year, PCH was Arizona’s only hospital named a U.S. News & World Report’s Best Children’s Hospital. PCH’s six Centers of Excellence have grown in size and expertise to place them on par with some of the most prestigious of their kind in the U.S.

INNOVATION: Global Tranz Enterprises. GlobalTranz is a technology based, software and logistics company, that has created a one-stop-shop providing innovative solutions to more than 18,000 shippers. GlobalTranz specializes in LTL, FTL, supply chain logistics and warehousing. Customers nationwide engage in state-of-the-art technology, CarrierRate.com, which optimizes the flow and storage of merchandise as the goods move within, and throughout, the customers’ supply chain. GlobalTranz hwas named one of Inc. Magazine’s 5000 fastest-growing companies list.

COMMUNITY IMPACT: Jewish Family and Children’s Services JFCS touches the lives of more than 37,000 individuals each year; 97 percent of whom live at or below the federal poverty level. Responding to an ever-changing healthcare environment, JFCS has lead the fight against child abuse, is a major provider of behavioral health services, and a leader in adopting new health information technology and promoting integrated health services.

FOUNDERS AWARD: Southwest Human Development. Southwest Human Development was founded in 1981 by Ginger Ward with a $150,000 budget serving just 175 children and families. Today, Southwest Human Development serves 135,000 children and their families with a $62 million budget and more than 850 staff. The agency operates more than 40 programs and services in five core areas: child development and mental health, Easter Seals disabilities services, early literacy and Head Start, child welfare, and professional development and training for early childhood professionals.

 

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    Gov. Nixon highlights growing tech sector in Kansas City’s Crossroads Arts District

    Governor announces additional support for LaunchCode Kansas City office and expansion of San Francisco-based tech firm Pramata

    KANSAS CITY, Mo. – Feb. 11, 2016. Gov. Jay Nixon today visited the Sprint Accelerator to highlight the growing technology sectors of both Kansas City and the state of Missouri, and to announce more high-tech job creation and development in the city’s Crossroads Arts District.

    The Governor announced that LaunchCode, a nationally-recognized program that helps close the tech talent gap, will receive an additional $250,000 from the Missouri Technology Corporation to expand its operations in the Crossroads. Gov. Nixon was also joined by Praful Saklani, founder and CEO of Pramata, a tech firm based in San Francisco, to announce Pramata’s decision to open a Midwest office and create 15 jobs in the district.

    “Kansas City’s thriving business community and highly-educated workforce make it the ideal location for tech companies to locate and grow,” Gov. Nixon said. “The burgeoning technology scene here in Kansas City’s Crossroads is a big reason why Missouri is a nationally-recognized leader in high-tech jobs and innovation. By balancing budgets and making smart investments in education and entrepreneurship, we will continue to move Kansas City and the entire state forward.”

    “The addition of LaunchCode and Pramata to the Crossroads Arts District further enriches Kansas City as a center of high-tech entrepreneurship and jobs,” said Kansas City Mayor Sly James. “It takes many partners to bring this kind of explosive growth, and we’re grateful to Missouri and Gov. Nixon for helping to make Kansas City one of the hottest start-up cities in the nation.”

    LaunchCode was founded in 2013 by Square’s Jim McKelvey in St. Louis. Located at the Sprint Accelerator in the Crossroads Arts District, the new LaunchCode office is already in its first phase of development, and building relationships with Kansas City-based companies that have tech talent needs. To date, LaunchCode has partnered with several area businesses, including startup firms Blooom, Eye Verify and Venture 360. Computer education and skills training are expected to start this spring.

    “We’re proud to have the Missouri Technology Corporation as our lead funder in Kansas City,” McKelvey said. “The Governor’s vision for innovation in Missouri has been critical to our success statewide, and will help us continue our mission of creating better lives and communities.”

    “Kansas City offers a unique combination of a skilled talent pool along with a central location,” Saklani said. “It’s the ideal place to anchor our U.S. expansion and a fantastic base from which to serve our customers. We’re looking forward to being a member of and contributor to the local community.”

    Pramata is the Customer Relationship Intelligence™ company, offering solutions that help large B2B (business to business) companies retain and grow their most complex, and most valuable, customer relationships. With customers throughout North America, its new Kansas City office will provide sales support and administrative functions for its offices located on both coasts.
    To assist with Pramata’s expansion, Missouri has offered a strategic economic incentive package that the company can receive if it meets certain job creation criteria. The Missouri Partnership, the Economic Development Corporation of Kansas City, and the Kansas City Area Development Council also assisted the company with its expansion.

    Gov. Nixon has made it a priority to grow and support the state’s IT sector, which was identified in Missouri’s strategic initiative for economic growth as an industry poised for expansion. In 2015, MTC also provided $250,000 through its MOBEC program for LaunchCode to start their apprenticeship and job-placement program in Kansas City.

    Today’s announcement brings the total support from MTC for the LaunchCode Kansas City expansion to $500,000. In addition, in 2015, Gov. Nixon announced $604,600 in state support for the development of LaunchCode’s new Mentor Center in St. Louis, a learning and technology skills development hub targeted towards disadvantaged youth.

    The Governor’s Fiscal Year 2017 budget includes an additional $10 million for programs administered by MTC, for a total of $28 million designated to growing the state’s innovative community and creating high-tech jobs. Since 2011, MTC has co-invested in 82 companies, which have in turn been able to leverage additional private investments of more than $280 million.
    Recent census data showed Missouri led the nation in new business creation, growing by 16 percent from the previous year. In Fiscal Year 2015, Missouri ranked – for the first time – as a top ten state for startup funding, according to Forbes.

    Home to one of the first Google fiber projects in the nation, Kansas City’s tech scene continues to attract businesses of all sizes. Over the years, it has been ranked as one of the top cities for women in tech (seedrankings.com), Best places for Tech Jobs (Nerd Wallet), and was recently named one of Business Insider’s top 10 fastest growing cities for startups. For the second year in a row, this September, Kansas City is set to host Techweek, the nation’s leading technology conference and festival that gathers industry heavyweights and emerging tech voices to showcase local innovations.

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    TraceLink Reports 2015 Annual Revenue Growth of 104% and Two-Year Revenue CAGR of 111%

    NORTH READING, MA--(Marketwired - Feb 3, 2016) -  TraceLink Inc., the world's largest track and trace network for connecting the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced financial results for the fourth quarter and full year 2015. Growth highlights include:

    • A 104 percent revenue increase year-over-year; making 2015 the second-consecutive year where the company has delivered revenue growth over 100 percent;
    • A two-year revenue compound annual growth rate (CAGR) of 111 percent,
    • A 148 percent increase in customer growth year-over year; and,
    • A 125 percent increase in employee growth year-over-year.

    "The past year was another phenomenal growth period for TraceLink, with our Life Sciences Cloud platform dominating the competitive landscape," said Shabbir Dahod, president and CEO of TraceLink. "As serialization deadlines move closer, the industry is recognizing just how complex the network, scalability, and compliance requirements are -- and that the only way to ensure supply is with a comprehensive solution that can deliver on all of the requirements. Companies running serialization tests at scale are seeing RDBMS databases fail. Those implementing point-to-point connections with contract manufacturers and trade partners are facing unreasonable project timelines with extraordinary costs. Others are learning that achieving compliance in different countries is more than simply generating reports for the government. With more than a decade of development experience and a team of more than 200 employees focused explicitly on every nuance of track and trace requirements, we're able to deliver the only proven, in-market solution that enables pharmaceutical companies to achieve regulatory compliance with the least amount of cost, time and risk."

    Additional growth highlights for 2015 include:

    • Expanding the company's international footprint to support rapid global growth -- with two new international office locations in London, UK and Mumbai, India;
    • Building the world's largest track and trace network -- of more than 200,000 pharmaceutical manufacturers, distributors and dispensers -- including more than 680 CMOs -- to facilitate instant collaboration and exchange of compliance data and information;
    • Delivering 15 integrated, out-of-the-box drug traceability solutions -- that are available today to meet the diverse business, regulatory and government reporting requirements of the US, EU, Brazil, China, India, Saudi Arabia, and South Korea;
    • Saving the industry over $1.7 billion in system integration costs -- through the elimination of over 116,000 point-to-point connections;
    • Protecting 1.4 billion drug products -- moving through the global supply chain;
    • Processing 61.3 million Transaction Histories -- for US DSCSA lot-level compliance;
    • Ranking number 293 on Deloitte's Technology Fast 500™ -- a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America; and,
    • Receiving the 2015 GS1 Brazil Automation Award -- for a partnership with Roche and SPI in developing an ANVISA pilot solution to meet the Brazil RDC 54 track and trace regulation.

    To learn more about meeting global pharmaceutical compliance deadlines and how to build a flexible serialization, track and trace, and reporting platform for the US, the EU, China, Brazil, Germany, South Korea, India, Turkey, Argentina and other countries, please visit www.tracelink.com.

    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, including 16 of the top-20 global pharmaceutical companies, trust the TraceLink Life Sciences Cloud to 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 the Amazon AWS Global Start-Up Challenge Grand Prize and the Edison Award for Innovation in Health Management, the TraceLink 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 LinkedIn, Twitter and Facebook.



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