Archive for the ‘Virginia’ Category
Monday, March 28th, 2011
 FAIRFAX, VA – Cyber security firm Global Analytic Information Technology Services has raised $4 million in new equity from a single investor and converted from a corporation to a limited liability company, according to a regulatory filing.
The company assesses and mitigates internal and external cyber-security threats, and provide best practices to optimize and integrate cyber security solutions throughout our customers’ enterprise architecture and infrastructure.
Since it’s founding in 1997, GAITS has focused almost exclusively on the federal community. Its customers include the U.S. Department of Defense, the U.S. armed services and a number of government, defense and intelligence agencies.
The company’s website says it has grown 6,000 percent in less than five years.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: cyber security, defence, DOD, Fairfax, financing, GAITS, VA
Posted in Government/Defense, Internet/New Media, IT, Money, Potomac, Security, Virginia | Comments Off
Tuesday, March 22nd, 2011
 FALLS CHURCH, VA – CSC (NYSE: CSC), a global leader in providing technology-enabled solutions and services entered into a new $1.5 billion unsecured revolving credit facility on March 18, 2011, which replaced an existing $1.5 billion facility that was scheduled to mature in July 2012.
CSC sells technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector.
CSC’s capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting.
The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2011).
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: CSC, Falls Church, IT solutions and services, new credit facility, VA
Posted in IT, Money, Potomac, Virginia | Comments Off
Friday, March 18th, 2011
 RESTON, VA – PlaSec Inc.,which sells PhysiLogical Access Control systems for IT and facility security, has raised $3.4 million of a round targeted at $4.5 million, according to a regulatory filing.
Businesses, governments, and institutions invest in Physical Access Control Systems (PACS) to manage risks associated with employee, contractor, and visitor accessibility to their facilities, people, and information.
PlaSec’s Collaborative Platform enables PlaSec Appliance Products to interoperate with identity management, network access control, event management, and network monitoring systems.
PlaSec Appliance have a 100 percent browser-based interface, use open field hardware from prominent independent manufacturers, elliminate the need to interact with an OS or DB, and has straight forward tools to push/pull data from a wide range of platforms in all IT industry standard formats.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: financing, PlaSec, Reston, security products, VA
Posted in IT, Money, Potomac, Security, Virginia | Comments Off
Thursday, March 10th, 2011
 RICHMOND, VA-SnagAJob.com, which says it is the nation’s largest online community of hourly workers and the leading provider of hourly workforce management solutions, has secured $27 million in Series C funding led by August Capital, a Silicon Valley-based venture capital firm whose partners have been founding investors in companies such as Microsoft, Sun Microsystems, and Skype.
Shawn Boyer, an attorney, started the site after a friend asked him to go online and help look for an internship in 1999. Boyer discovered few sites geared toward internships or part-time and hourly jobs. So, after several month of research, he left the D.C. law firm where he worked as a transactional attorney to start the site.
Leading up to this significant investment, SnagAJob has achieved milestones such as:
- 1,185% revenue growth rate over the past seven years
- 400% website traffic growth rate over the past five years
- 180%+ year-over-year job posting growth in the past year
- Built a community of nearly 28 million hourly workers, growing by over a million every 60 days
- New national clients include: Dollar General, ServiceMaster, Macy’s, and McDonald’s
Moving forward, SnagAJob says it will use the new investment to expand its product portfolio, intensify marketing efforts and increase the size of its sales team.
“SnagAJob is working on a number of large-scale initiatives to make it easier for employers to both source great talent and to manage their hourly workforce in a more efficient manner, and we couldn’t be more excited to partner with August Capital to help us do that,” said Boyer, founder and CEO of SnagAJob.com.
“August Capital consistently has invested in companies with solid business models and major growth plans to address a market need, and we are looking forward to working with them to address the largely underserved hourly marketplace.”
The companies that August Capital’s partners have backed represent an aggregate market capitalization of well over $250 billion, generate in excess of $75 billion in annual revenue and employ a quarter of a million people around the world.
Eric Carlborg, who focuses on later-stage, growth companies for August Capital, will join the SnagAJob board of directors. His current and past investments and board involvement include Blue Nile (NILE), Bodybuilding.com and Zulily, among others.
“August Capital saw an opportunity to invest in SnagAJob, a company that already has been a tremendous resource for America’s hourly workers and the employers that rely on them to run their businesses,” Carlborg said. “In its next phase, it’s looking to intensify its offerings for hourly employers, and we wanted to be a part of that growth that will lead to even happier customers through a one-stop shopping human resources approach.”
In late 2010, SnagAJob started to rapidly expand its own workforce with a goal to double its employee base in order to address its large strategic initiatives. Now at roughly 210 employees, it expects to reach a headcount of about 300 people by the end of this year.
SnagAJob continues to hire across numerous departments, including product, sales and marketing. Interested candidates should possess optimism, enthusiasm and a personal desire to succeed. To learn more about career opportunities with SnagAJob.com, see: www.snagajob.com/careers/.
Other private equity investors in SnagAJob for this and previous rounds of funding include Adams Street Partners, Baird Venture Partners and C&B Capital. In previous rounds of funding, these firms committed a total of $14 million.
Founded in 2000 and headquartered in Richmond, SnagaJob’s current clients include DISH Network, Captain D’s, Verizon Wireless, FedEx, Chick-fil-A®, Bed Bath & Beyond®, Michaels® and Jiffy Lube®. Learn more about the No. 1 source for hourly employment at
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: Adams Street Partners, August Capital, Baird Venture Partners, C&B Capital, Eric Carlborg, financing, Shawn Boyer, SnagAJob.com
Posted in Internet/New Media, Money, Potomac, TechJobs, Virginia | Comments Off
Tuesday, March 8th, 2011
 CHANTILLY, VA – TASC Inc., a provider of advanced systems engineering, integration and decision-support services to the Intelligence Community, Department of Defense and civilian agencies of the federal government, has named David Langstaff president and CEO.
Langstaff, 56, succeeds Wood Parker, who is retiring.
Langstaff, chair of TASC and former CEO of Veridian Corp., became board chairman of TASC in December 2009 when TASC separated from Northrop Grumman Corp.
During his tenure at Veridian, Langstaff built the company into a leading national security business. Currently he serves on a number of corporate and nonprofit boards. Langstaff is also a member of the Defense Business Board and chairs the Advisory Board of the Aspen Institute Business and Society Program.
Langstaff will turn over the chairmanship role to Peter Marino.
With more than 5,000 employees in 40 locations, TASC generates $1.5 billion in annual revenue.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: David Langstaff named CEO, government contractor, president, TASC
Posted in Government/Defense, IT, People, Potomac, Virginia | Comments Off
Monday, March 7th, 2011
 RESTON, VA – ZoomSafer, which sells software that prevents employees from using mobile phones while driving, has raised $1.1 million in financing from White Birch Capital and SugarOak Holdings. The company says the money will fund expanded marketing and further product development.
“Employees who text, email or browse the web while driving are a ticking-time-bomb in terms of corporate liability, which is why companies must protect themselves,” said Matt Howard, Founder and CEO of ZoomSafer. “This additional financing will enable us to strengthen our existing products, expand marketing, and help more fleets to comply with regulations, reduce crashes and save money.”
The company raised $2 million previously.
Howard told us in an earlier interview that he founded the company after he knocked a neighbor’s child off his bike with his car when he looked down at an incoming text message on his Blackberry. While the child was ok, Howard said, “It was the scariest day of my life.”
An entrepreneur who had previously co-founded CloudProfile, which sells a service to help companies be found and engage with customers on mobile devices, Howard saw an opportunity.
He joined forces with Michael Riemer, ZoomSafer co-founder and CEO, a retired former Nextel executive doing consulting and studied the space, began doing foundation work, and they created ZoomSafter in January 2009.
For fleets equipped with smartphones, the company’s FleetSafer Mobile delivers an active policy enforcement solution that automatically prevents employees from texting, emailing or browsing the web while driving.
For fleets equipped with any type of mobile phone, FleetSafer Vision delivers a one-of-a-kind, cloud-based analytics service that enables corporate management to empirically measure employee use of phones while driving (no on-device software required).
Bob Spass, managing partner at White Birch Capital and founding partner at Capital Z Partners, said, “ZoomSafer’s software meets a growing corporate need to manage employee driving risks.”
“Control and prevention of distracted driving is one of the most difficult challenges that fleet operators face today,” said Sandeep Kar, manager of Commercial Vehicle Research at Frost & Sullivan. “ZoomSafer has pioneered an innovative set of products and is uniquely positioned to help fleet customers address the challenges associated with distracted driving.”
–Allan Maurer
To email TechJournal South Editor Allan Maurer: Allan at TechJournal South dot com.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: Bob Spass, financing, Fleetsafer mobile, Fleetsafter, IT, Matt Howard, mobile, Reston, Sandeep Kar, SugarOak Holdings, telecom, VA, White Birch Capital, ZoomSafer
Posted in IT, Money, Potomac, Virginia | Comments Off
Monday, March 7th, 2011
 WASHINGTON, DC- LogRhythm, a company formerly headquartered in DC but now in Boudler, Colorado, has raised $4.9 million raise from investors including Virginia-based Grotech, according to a regulatory filing.
The company sells an appliance with features that include log management and analysis, file integrity monitoring, event management, network and user monitoring, and geolocation tracking, this product can provide the detail needed for in-depth security event analysis. It helps firms comply with regulations and secure their networks.
The company disclosed the raise in a filing with the US Securities and Exchange Commission, which cites Ray Croghan, of Longmont, CO-based Croghan Investments, Frank Mendicino III of Denver’s Access Venture Partners, and Joe Zell of Grotech Partners among the principals.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: Boulder, CO, DC, financing, Grotech, log analysis, LogRhythm, Viriginia
Posted in Money, Potomac, Virginia, Washington, DC | Comments Off
Friday, March 4th, 2011
 SPRINGFIELD, VA – USA Mobility, Inc. (Nasdaq: USMO), a leading provider of wireless messaging and communications services, has acquired Amcom Software Inc. for $163.3 million in cash.
The acquisition was funded by $110.8 million of cash on hand and $52.5 million through a credit facility provided by Wells Fargo Capital Finance.
Vincent D. Kelly, USA Mobility president and CEO, said, “This acquisition is about combining two leaders in mission critical communications. USA Mobility’s three primary core market segments of healthcare, government and large enterprise are exactly aligned with Amcom’s customer segment focus.”
“USA Mobility is the undisputed leader in paging and wireless messaging — the foundation of mission critical communications today. Increasingly, however, mission critical communication is evolving. Pagers were once the lone device for urgent communications in healthcare, government, and public safety.
“But today’s leading organizations communicate with an ever-increasing diverse array of methods and devices. Amcom Software is a recognized leader in delivering software solutions, which enable seamless, critical communications. Amcom’s unified communications suite connects people across a universe of devices that is constantly expanding.”
Tags: Acquisitions, Amcom Software, government, Healthcare, large enterprise, messaging, Springfield, telecom, USA Mobility, VA
Posted in Acquisitions, IT, Potomac, Telecommunications, Virginia | Comments Off
Friday, February 25th, 2011
 DULLES, VA – Echo 360, a company that captures college lectures so students can replay them online on demand, has raised $2.97 million in a mixed securities offering, according to a regulatory filing.
The company raised $26.3 million in April 2010, another $2 million later in the year, and $15 million in 2008. It disclosed the latest raise in a filing with the US Securities and Exchange Commission.
The company evolved as a subsidiary of Anystream, which sells digital media production and management software to media companies. Anystream acquired Lectopia, which sold lecture capture technology in New Zealand and Australia, in 2007. It blended Anystream’s video and IT expertise with educational lecture capture to create the Echo360 platform.
The result, it says, is a repeatable, on-demand educational experience that is easy for institutions to deploy and support while providing students exceptional playback quality and options in line with their mobile lifestyles.
Students can replay any professor’s lecture on a PC or Mac, hear or watch a podcast, and even follow closed captioning. Not only that, students can go to any part of the lecture via key word search.
The company’s customers in the Southeast include Florida Coastal School of Law; Florida Atlantic University, Barry Kaye College of Business; George Washington University; North Carolina State University; the University of North Carolina at Wilmington; and the University of North Carolina School of Medicine. Nationally, customers include M.I.T., and Notre Dame, among many others. Internationally, it has schools from London to China.
TechJournal South is a TechMedia company. TechMedia presents the annual conferences:
SoutheastVentureConference: www.seventure.org
Internet Summit: www.internetsummit.com
Digital East: www.digitaleast.com
Digital Summit: www.digitalsummit.com
Tags: DC, Dulles, Echo 360, financing, Internet, NC, online lecture rewind, VA
Posted in Carolinas, Education, Florida, Internet/New Media, IT, Money, North Carolina, Potomac, Virginia, Washington, DC | Comments Off
Tuesday, February 22nd, 2011
 RESTON,VA – LightSquared,which calls itself “the nation’s first wholesale-only integrated wireless broadband and satellite network,” has closed on $586 million of debt, led by UBS AG and JP Morgan.
LightSquared will use the proceeds of the financing for general corporate purposes, which include constructing a world-class, 4G-LTE-wholesale network.
Over the last seven months, LightSquared has raised more than $2 billion in debt and equity.
“We’re excited about our prospects of bringing the next generation of mobile broadband to millions of Americans, fulfilling the promise of the National Broadband Plan using exclusively private money,” said Sanjiv Ahuja, chief executive officer of LightSquared.
“Our investors share our belief that now is the time for a wholesale model to succeed, as we will bring desperately-needed 4G capacity to businesses, consumers, government and public safety users through a wide variety of retail partners which will sell services based on our integrated terrestrial and satellite network. We are deploying the most advanced network while offering service at a lower price, because as a pure wholesaler, we will we will not have retail overhead.”
The company says that through its wholesale-only business model, those without their own wireless network or who have limited geographic coverage or spectrum can develop and sell their own devices, applications, and services using LightSquared’s open 4G network—at a competitive cost and without retail competition from the company.
Tags: 4G, debt, financing, JP Morgan, Lightsquared, UBS AG, wholesale satellite broadband
Posted in Internet/New Media, Money, Potomac, Telecommunications, Virginia | Comments Off
Wednesday, February 9th, 2011
 Michael L. Sledge ALEXANDRIA, VA – Robbins-Gioia Inc., a provider of program and corporate performance optimization services and solutions, has named Michael L. Sledge CEO. Current CEO John Marselle is retiring March 5.
Sledge has been Robbins-Gioia’s president and chief operating officer since 2006 and in an acting CEO capacity since October 2010 when Marselle began an extended medical leave.
Sledge has held increasingly responsible positions at Robbins-Gioia since joining the company in 1984. Before serving as president and COO, he was Robbins-Gioia’s president for civilian agencies and homeland security.
Founded in 1980, Robbins-Gioia sells management and technology consulting solutions to governments and businesses worldwide.
Tags: John Marselle retiring, Michael L. Sledge named CEO, Robbins-Gioia
Posted in Government/Defense, IT, Potomac, Virginia | Comments Off
Tuesday, February 8th, 2011
 ROANOKE, VA - ELENZA Inc., a company developing the world’s first Electro-active AutoFocal Intraocular Lens, has raised $24 million Series B round of financing from from its original investors, The Carlyle Group, Washington, DC, and Delphi Ventures, Menlo Park, CA,, as well as new investors, the Itochu Corp., Tokyo, Japan and a strategic corporate investor from the ophthalmic industry.
The company says the funds will be used to support the clinical development and technology commercialization of ELENZA’s patented Electro-active AutoFocal Intraocular Lens to address the cataract extraction market and future opportunities associated with the correction of presbyopia. This capital placement is also expected to fund clinical and regulatory activities required to obtain CE mark in Europe and other international markets.
The comany competes in the multi-billion dollar IOL market for the correction of near, intermediate and distance vision. Its Electro-active Accommodating IOLs use a proprietary combination of chemistry, electricity, and integrated-circuitry to create smart optics, which will provide patients with the ability to see more naturally and clearly over a range of vision.
The technology includes an Electro-active switchable optical element that automatically adjusts focusing power electronically, in milliseconds, to maintain constant in focus vision for various working needs and/or light environments. The lens is controlled by a micro-sized power-cell with an expected 50+ year rechargeable cycle life.
Tags: auto-focusing interocular lens, Delphi Ventures, Elenza, financing, Itochu Corp., Medical Device, Roanoke, The Carlyle Group, VA
Posted in Money, Potomac, Virginia | Comments Off
Monday, February 7th, 2011
 AOL Inc. (NYSE:AOL) has agreed to acquire The Huffington Post, the news and commentary website, for $315 million, as it continues its attempt to retool as a content company selling advertising.
The move comes on the heels of its acquisition of the popular West Coast blog, TechCrunch. We find we’re going to more AOL content ourselves due to these acquisitions.
As part of the transaction, Arianna Huffington, The Huffington Post’s co-founder and editor-in-chief, will be named president and editor-in-chief of The Huffington Post Media Group, which will include all Huffington Post and AOL content, including Engadget, TechCrunch, Moviefone, MapQuest, Black Voices, PopEater, AOL Music, AOL Latino, AutoBlog, Patch, StyleList, and more.
“The acquisition of The Huffington Post will create a next-generation American media company with global reach that combines content, community, and social experiences for consumers,” saidTim Armstrong, chairman and CEO of AOL.
The Huffington Post’s competitor, The Daily Beast, itself recently acquired Newsweek, with veteran magazine editor and media personality Tina Brown at the helm of both.
The Huffington Post has an upscale audience with demographics eagerly sought by AOL, which has struggled to reinvent itself as its dial-up business evaporates.
“This is truly a merger of visions and a perfect fit for us,” said Huffington. “The Huffington Post will continue on the same path we have been on for the last six years – though now at light speed – by combining with AOL.”
She added, “Our readers will still be able to come to the Huffington Post at the same URL, and find all the same content they’ve grown to love, plus a lot more – more local, more tech, more entertainment, more finance, and lots more video.
“We are fusing a legendary and powerful new media brand with a vibrant, innovative news organization, known for its distinctive voice, a highly engaged audience, an expertise in community-building, and a track record for demystifying the news and putting flesh and blood on the data while drawing our audience into the conversation.”
Among those who have blogged on The Huffington Post are:
President Barack Obama, Secretary of State Hillary Clinton, Mayor Michael Bloomberg, Larry Page, Diane Sawyer, Buzz Aldrin, Nora Ephron, Bill Maher, Madeleine Albright, Robert Redford, Katie Couric, Neil Young, Rahm Emanuel, Mia Farrow, Senator Russ Feingold, Senator Al Franken, Ari Emanuel, Harry Shearer, Senator John Kerry, Representative Nancy Pelosi, Madonna, Lawrence Summers, Jamie Lee Curtis, Ryan Reynolds, Craig Newmark, Alec Baldwin, Aaron Sorkin, Natalie Portman, Scarlett Johansson, Russell Simmons, Sean Penn, Bill Gates, Norman Lear, Charlie Rose, Elizabeth Warren, Tavis Smiley, Sheryl Sandberg, George Clooney, and former President Bill Clinton. And the audience speaks back, generating four million comments a month
Tags: AOL acquiring The Huffington Post, Arianna Huffington, The Daily Beast, Tim Armstrong, Tina Brown
Posted in Acquisitions, Internet/New Media, Potomac, Virginia | 1 Comment »
Friday, February 4th, 2011
 HERNDON, VA – When will eBills be more widely used than traditional paper bills? A recent study suggests it might only be five years down the road.
Conducted by NACHA’s Council for Electronic Billing and Payment and PayItGreen, suggests that eBilling – or the electronic delivery of a bill to a customer – is gaining momentum across business industries with more billers expected to come online in 2011 and 2012.
The NACHA CEBP and PayItGreen study, completed by Blueflame Consulting in January 2011, quantified the size of the eBill market, indicating that a total of 5.1 billion eBills were delivered in 2010 alone. However, some consumers are moving to adopt eBills more slowly than anticipated.
“After easily converting the ‘early adopters’ to eBills, billers are realizing that the second and third tiers of consumers will take more time to convince,” said Ed Bachelder, director of research for Blueflame Consulting. “However, billers across a broadening range of markets and sizes see eBill adoption as an important program for their companies, and have shown commitment to continuing to try to convert their customers.”
Nine of ten of the companies surveyed rate eBill adoption to be a significant opportunity for their organizations. Cost-savings serves as a major driver for companies, with projected savings falling between 40 and 50 cents per bill. Another motivating factor, billers also said eBill customers are more satisfied customers and are easier to retain. Collectively, participants in the study distribute 735 million bills in a typical month, which is approximately 25 percent of all bills nationwide.
“eBills have not reached their full potential, but they’re gaining momentum,” said Janet O. Estep, president and CEO of NACHA — The Electronic Payments Association. “With companies’ long-term commitment to converting their customers to electronic bill presentment, we see adoption gaining momentum.”
Of those surveyed, universities had the most successful eBilling programs by far. Most universities can mandate eBilling for their students or use a customer opt-out approach rather than an opt-in approach.
“Most billers ask their customers to opt-in to the eBilling program,” said Bachelder. “Companies could increase their eBill participation dramatically by changing their new customer enrollment to an opt-out approach. Our study suggests that only 10 percent of customers who have Internet access would choose to opt-out once they experienced eBilling. Study participants identified one obstacle to eBilling is that the sign-up process is often too time-consuming for customers. An opt-out program would simplify that step.”
Participants in the study agree that more customer education is needed about how eBilling works, the security involved, and how significant paper reduction is to improving the environment.
“Once customers truly understand eBilling, they respond positively for a number of reasons,” said Estep. “Convenience is key, and environmental messaging continues to be a supporting motivator for eBill adoption.”
We pay everything electronically ourselves. It is not only good for the environment, it stops unnecessary mail from piling up and we never have to go through that monthly bill paying routine anymore. We rate the convenience of it right up there with ATM machines and calculators.
Tags: ebills to overtake paper in five years, Herndon, NACHA, PayitGreen, VA
Posted in Energy, Internet/New Media, Potomac, Virginia | Comments Off
Tuesday, February 1st, 2011
 RESTON, VA – DISH Network, the satellite TV firm, is buying Reston-baseed DBSD North America, a unit of ICO Global Communications, for $1 billion.
DBSD is developing a hybrid earth-satellite based communications network.
DISH will provide $87.5 million in debtor-in-possesion financing for DBSD, which filed for Chapter 11 Bankrupcy protection in 2009.
According to the New York Times, the deal could help DISH acquire broadband spectrum in hope of creating a 4G or LTE network.
DBSD was previously known as ICO North America.
Tags: Acquisitions, DBSD, DISH Network, Reston, satellite communications, VA
Posted in Acquisitions, Potomac, Telecommunications, Virginia | Comments Off
Wednesday, January 26th, 2011
 ARLINGTON, VA – Here’s some good news on the economic front and let’s hope it’s just the beginning of a real turnaround. Consumer confidence in the overall economy reached its highest level in nearly three years this month, according to the latest figures released by the Consumer Electronics Association (CEA). Consumer confidence in technology fell from its record high last month, it remains the highest it has ever been in the month of January.
The CEA Indexes also show consumer confidence in technology reached an all-time high for the month of January. Here at TechJournal South we have suggested several times that the strong rise in holiday spending online and off indicated that both consumer confidence and a pent-up desire to buy were at work.
As economic indicators go, consumer confidence is one of the most important in America, where consumer spending drives much of the economy. High unemployment and the foreclosure choked housing market remain drags, but consumer confidence is a lynchpin of any recovery.
For the sixth consecutive month, consumer confidence in the overall direction of the economy improved. The CEA Index of Consumer Expectations (ICE) rose one point in January to 175.7. That’s the highest the ICE has been since February of 2008. The ICE, which measures consumer expectations about the broader economy, is up more than nine points from this time last year.
“The economy continues to improve and individuals are taking note,” said Shawn DuBravac, CEA’s chief economist and director of research. “With consumer sentiment higher than it has been since early 2008, and six straight months of growth, consumers are feeling better about the economy and their financial futures.”
Consumer confidence in technology is the highest it’s ever been in the month of January, despite dropping from last month’s record high. The CEA Index of Consumer Technology Expectations (ICTE) fell 5.6 points to 88.1 this month. The ICTE, which measures consumer expectations about technology spending, still recorded its highest level ever for the month of January and is up more than four points from this time last year.
“Spending on technology is influenced by regular seasonal purchasing patterns and in December, technology was atop every consumer’s holiday wish list,” said DuBravac. “While a drop from December to January has happened every year of the index, the record high this January suggests consumers are still showing a willingness to purchase tech.”
The CEA Indexes comprise the ICE and ICTE, both of which are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. CEA has been tracking index data since January 2007. To find current and past indexes, charts, methodology and future release dates, log on to: CEACNETindexes.org.
Tags: CEA, CEA indexes, consumer confidence highest its been in three years
Posted in Potomac, Studies, surveys, reports, Virginia | Comments Off
Monday, January 24th, 2011
 ASHBURN, VA – Odin Technologies Inc., a company selling radio frequency identification technology, has raised $3.4 million in equity, according to a regulatory filing.
The company’s clients include Airbus and IATA in the Aerospace sector; CArdinal and Medtronic in healthcare; and every branch of hte US military, the State Department, and the US Secret Service; Tenaris in oil and gas; and to financial services customers.
The company’s EasyMonitor product automates monitoring, management and maintenance of RFID infrastructure in a user-friendly and scalable manner from an offsite location.
Odin disclosed the raise in a filing with the US Securiteis and Exchange Commission. Among those cited in the filing are Mark Frantz of Blue Delta Capital Management and Sanju Bansal, COO of MicroStrategy, and Robert E. Spekman, a professor of business administration at the University of Virginia, as directors.
Tags: Ashburn, Blue Delta Capital Management, financing, MicroStrategy, Odin Technologies, RFID, SEC, University of Virginia, Virginia
Posted in Government/Defense, IT, Money, Potomac, Virginia | Comments Off
Monday, January 24th, 2011
 WYTHEVILLE, VA – Evatran, which makes charging stations for electric vehicles has raised a $1.3 million equity round, according to a regulatory filing.
Founded in 2009 by MTC Transformers, the company sells a hands free electric vehicle charging system called Plugless Power.
MTC Transformers was acquired by Hough in 1999.
In the Washington Post in December 2010, Evatran President Robert Hough said a $150,000 grant from the Virginia Governor’s Opportunity Fund, $1.49 million from the tobacco commission and $100,000 from local government helped his company select Virginia over Ohio for an expansion resulting in 84 jobs.
The company disclosed the financing in a filing with the US Securities and Exchange Commission.
Tags: Evatran, financing, hands-free electrcic car charging, Plugless Power, SEC
Posted in Energy, Money, Potomac, Virginia | Comments Off
Wednesday, January 19th, 2011
 ARLINGTON, VA - GrindPoint Inc., which sells smart grid software and services, has raised $23.6 million in new funding, according to a regulatory filing. The company has raised $229 million over five rounds since 2006.
Investors in the company include Goldman Sachs, New Enterprise Associates, Susquehanna Private Equity, Perella Weinberg Partners, and Robeco.
Principals listed in the filing with the US Securities and Exchange Commission disclosing the new funding, in addition to company executives include:
J. Roderick Heller, Carnton Capital Associates, Washington, D.C.; Jeffrey Berman, Greenhouse Schools project, London; Robert Mancini, Cogentrix Energy, Inc., Charlotte, NC; Tom Soto, Craton Equity Partners, Los Angeles; Jacob Worenklein, US Power Generating Company, New York, Larry M. Kellerman, Goldman Sachs; Stephen Lehner Morgan Stanley; David W. Mohler, CTO, Duke Energy; Joseph M. Perta, Advanced Software Systems Inc., Sterling, VA; Paul J. Powers, Jr., partner, Satterlee Stephens Burke & Burke, NY; George P. Stamas, Kirkland & Ellis, Washington, D.C.; and Eric C. Taubenheim, Susquehanna Private Equity Investments, NY.
GridPoint is working with several utilities including Duke Energy and Xcel Energy, which has selected the GridPoint Platform for its $100 million SmartGridCity initiative in Boulder, Colorado.
The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed energy resources that controls load, stores energy and produces power.
It offers utilities a single interface, located in a utility’s control room, for managing a variety of distributed energy assets including plug-in electric vehicles, solar panels, wind turbines, advanced storage technologies and household devices such as thermostats, electric water heaters, pool pumps, and so on.
Tags: Advanced Software Systems Inc., Carnton Capital Associates, Charlotte, Cogentrix Energy, Craton Equity Partners, CTO, D.C.; and Eric C. Taubenheim, D.C.; Jeffrey Berman, Duke Energy, Duke Energy; Joseph M. Perta, Energy, financing, Goldman Sachs; Stephen Lehner Morgan Stanley; David W. Mohler, Greenhouse Schools project, GridPoint, Inc., IT, J. Roderick Heller, Jr., Kirkland & Ellis, Larry M. Kellerman, London; Robert Mancini, Los Angeles; Jacob Worenklein, NC; Tom Soto, New Enterprise Associates, New York, NY., NY; George P. Stamas, partner, Perella Weingberg Partners, Robeco, Satterlee Stephens Burke & Burke, smart grid software, Sterling, Susquehanna Private Equity Investments, US Power Generating Company, VA; Paul J. Powers, Washington
Posted in Energy, IT, Money, Potomac, Virginia | Comments Off
Tuesday, January 18th, 2011
 ATLANTA – The 2011 Southeast Venture Conference (SEVC) has disclosed the first round
of companies selected to present at its upcoming conference March 2-3rd at the Ritz Carlton Buckhead in Atlanta, Georgia.
An estimated 50 showcase companies from the South and Mid-Atlantic regions will present at the 2011 Southeast Venture Conference. Showcase companies will range from the NASDAQ sponsored late stage showcase firms to earlier stage high growth firms in the region.
Presenting companies highlight the present and future of the innovation economy, representing some of the most promising technologies in the region from a diverse range of technology industries.
SEVC 2011 showcase companies will present to a sold out audience of hundreds of venture capitalists, private equity investors, angel investors, investment bankers and senior technology executives and entrepreneurs from around the region.
Early attendee registration discount expires this Friday.
Additional companies will be announced over the next few weeks leading up to the conference.
While the initial presenting company application deadline is expired, there’s still time for those interested in presenting (no cost involved). Presenting information can be found at: seventure.org/featured_cos.html
In addition to showcase company presentations, the conference will feature a number of market-driven topical panels, featured speakers and extensive networking opportunities.
To register or for more information on the SEVC 2011, drop by
www.seventure.org
The first round of announced showcase companies includes:
Argyle Social Durham, NC www.argylesocial.com
Bandbox Nashville, TN www.bandbox.com
BitCauldron Gainsville, FL www.bitcauldron.com
Cardagin Networks Charlottesville, VA www.cardagin.com
Cernium Reston, VA www.cernium.com
ecoInsight Atlanta, GA www.ecoinsight.com
HEALTHeME Charlotte, NC www.healthemedoc.com
Integro Earth Fuels Asheville, NC www.integrofuels.com
Keona Health Durham, NC www.keonahealth.com
LumaMed Johns Creek, GA www.lumamed.com
mailVU Charlotte, NC www.mailvu.com
Nitronex Durham, NC www.nitronex.com
Pardot Atlanta, GA www.pardot.com
StatSheet Durham, NC www.statsheet.com
twitpay Atlanta, GA www.twitpay.com
Valencell Raleigh, NC www.valencell.com
Vertical Acuity Atlanta, GA www.verticalacuity.com
Xanofi Raleigh, NC www.xanofi.com
XinRay Systems Research Triangle Park, NC www.xinraysystems.com
TechJournal South’s parent company presents the SEVC.
Tags: Atlanta, Buckhead, presenting companies, Ritz Carleton, SEVC, Southeast Venture Conference
Posted in Carolinas, Events, Florida, Georgia, Maryland, North Carolina, Potomac, Virginia, Washington, DC | Comments Off
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