Posts Tagged ‘software’
Wednesday, March 6th, 2013
How many IT professionals does it take to fix an issue? The answer is five, working a combined average of 100 hours a week to fix unexpected IT issues, proving why IT continues to focus on IT efficiency.
One IT professional averages 20 unexpected issues per week, putting out fires such as dealing with network slowdowns/outages, poor performing applications, unanticipated change requests, or equipment failures according to a survey by independent market research firm Kelton Research commissioned by TeamQuest Corp.
Daily business hiccups affect the efficiency and productivity of IT. Dynamic IT environments demand that IT use its resources wisely as business leaders focus on exploiting the benefits of cloud computing and virtualization to better serve customers and boost profitability.
Growing service demand
One of the presumed benefits of the cloud is freeing IT staff to work on strategic initiatives such as planning for cloud initiatives or understanding the risks associated with BYOD.
However, with 30% of an IT organization’s time spent on maintenance and mundane tasks, companies too often compensate by over-provisioning, wasting energy and money. IT is faced with a growing service demand from the business and consumers.
“From a service delivery view, IT staff deal with differing capacity requirements from different business units,” said Director of Product Management Scott Adams . “And the only constant is that those requirements are always changing.”
Efficiency has been a battle cry for IT and the business for years. IT services and business processes are measured and audited for efficiency and effectiveness.
“To increase efficiency, IT needs to institute mature capacity management processes that will protect against over-provisioning and reduce or eliminate the number of IT issues,” said Adams.
Tuesday, February 5th, 2013
After a 5 year decline, the number of vulnerabilities disclosed in 2012 rose 26% compared to 2011, according to the 2012 Vulnerability Threat report from NSS labs. One of the more worrisome trends NSS detected is that vulnerabilities in critical infrastructure systems skyrocketed.
These systems control industrial, infrastructure and facility-based processes such as electric grids, water supplies, power plants, pipeline, etc. — all of which represent high value targets to cybercriminals wishing to cause large-scale disruption or damage. While the total number of vulnerabilities is low (124 in 2012), they have grown 600 percent since 2010.
NSS warns, “ the arms race has only just started and we expect security issues with these systems to continue to increase.”
Small number of vendors account for 31 percent of vulnerabilities
Another finding: 1 percent of vendors are responsible for 31 percent of vulnerabilities reported each year and only one, Microsoft, decreased its vulnerabilities disclosures in 2012. Unfortunately, this small number of vendors represents the most prevalent software products in everyday private and enterprise use.
Vulnerabilities disclosed in 2012 affected over 2,600 products from 1,330 vendors — 73 percent of these were new vendors who had not had a vulnerability disclosure with the previous two years. These new vendors accounted for 30 percent of the total vulnerabilities disclosed in 2012.
More damage with less skill
Another worrisome finding: highly critical vulnerabilities easy to attack are like candy to cybercriminals, who can “do more damage with less skill.”
The top 10 vendors with this type of vulnerability represent major types of software used every day by consumers, businesses, government agencies and other organizations, including popular web browsers, plugins and media players, or operating systems.
NSS Labs Research Director Stefan Frei said, “While vulnerabilities in 2012 haven’t returned to the all-time high levels we saw in 2006, it’s significant that after 5 years of decline, the number of disclosed vulnerabilities rebounded sharply and jumped 26% in one year,” said Stefan Frei, Research Director at NSS Labs. “It is not just the number of vulnerabilities that matters, however. The level of criticality, how easily a vulnerability can be exploited, and the types of software they affect are all part of determining how serious a threat any single vulnerability might pose and these are trends we continue to watch.
Read the Report - NSS Labs Vulnerability Threat Trends Report
Wednesday, January 23rd, 2013
Just what do IT specialists do? Well, it depends. Some are programmers, some are network jockeys, some keep company equipment running.
But for those of you who want a clearer picture of just what the IT department may be up to, here’s an infographic showing eight types of IT specialists:
Monday, July 2nd, 2012
A five-week initial public offering (IPO) drought broke late last week as the second quarter ended with 11 IPOs of U.S. venture-backed companies, nine fewer than the first quarter.
Mergers and acquisitions (M&As) of venture-backed companies fared better in the second quarter as deal activity picked up slightly over the first quarter reversing a downward trend in deals that had been seen over the previous six months, according to Dow Jones VentureSource.
Eleven U.S. venture-backed companies raised $7.7 billion through IPOs in the second quarter, a drop in offerings from the same period last year when 14 IPOs raised $1.7 billion.
During the same time, 110 U.S. venture-backed companies were acquired, a slight uptick from the 98 M&As in the first quarter of 2012 but a 6% decline in deal activity compared to the second quarter of 2011.
“Dreams of a stable public market that appeared to be becoming reality in the first quarter were dashed by the worsening economic situation in Europe and Facebook’s underwhelming and problematic public debut,” said Jessica Canning, global research director for Dow Jones VentureSource.
“The silver lining this quarter may be M&A as deals are up slightly over the first quarter and have a solid start for the third quarter when Microsoft’s acquisition of Yammer is expected to close.”
Silicon Valley Companies Dominate IPOs
Start-ups based in Silicon Valley accounted for 72% of venture IPOs in the second quarter, a much larger proportion than the first quarter when they accounted for 35% of IPOs.
Venture companies took a median of $89 million and 8.5 years to reach an IPO, which represents a 14% drop in capital raised and a decrease in time from 8.7 years during the same period a year ago.
Currently, 44 U.S. venture-backed companies are in IPO registration. Eleven of those companies registered in the second quarter.
Software M&A Picks Up, Pharma Falls
Information technology (IT) was the most active industry for M&A as 47 deals raised $5.3 billion, a 9% increase in deals and 40% increase in capital raised. Within IT, software companies were the primary target for corporate buyers who acquired 36 software start-ups, an uptick from the 28 deals completed during the same period a year ago.
With 21 deals, consumer services was the second most active industry for acquisitions. It edged out healthcare and business and financial services by three and two deals respectively. All three of these industries, however, saw a decline in M&A deals from the second quarter of last year.
Dramatic drop in healthcare deal activity
The healthcare industry saw the most dramatic drop in deal activity as the number of acquisitions fell from 25 in the second quarter of 2011 to 18 in the most recent quarter. The drop was largely driven by the biopharmaceuticals segment which saw deals fall from 16 to 5.
“Promising technology companies are still being courted by corporate buyers, but in healthcare, regulatory uncertainty is making acquirers wary,” said Zoran Basich, editor of Dow Jones VentureWire.
During the second quarter, 110 mergers, acquisitions and buyouts raised $13.6 billion, a 6% decrease in deals and a 4% increase in capital raised from the same period last year. The median price paid for a company rose to $100 million from $64 million in the second quarter of last year.
To reach an M&A or buyout, it took companies a median of $20 million in venture financing, 2% more than in the second quarter of 2011, and a median of 5.1 years, less time than the 5.7-year median a year earlier, to build the company.
Wednesday, May 23rd, 2012
The BreakOut Award in search for the world’s best undiscovered new software application, is offering a $10,000 cash prize to the winner. The contest is being launched by CAST, a software analysis and measurement firm, and Dr. Dobb’s, a development content site.
This competition aims to support innovation and uncover the next rising star of the application development world. The BreakOut Award is open to a wide spectrum of developers, from individuals to corporate development teams.
Dr. Dobb’s and CAST have assembled a panel of judges from the global technology community who will combine code analysis and expert commercial assessments to identify the next break out application based on the following criteria: purpose, appeal, quality, and exposure.
Entrants will also have their applications objectively analyzed using CAST’s Highlight application, which provides feedback on the structural quality of their code.
The judging panel includes Dr. Dobb’s editor in chief Andrew Binstock and senior leaders and CEOs from Gartner, GoodData, Hubspot, IBM Global Business Services, Kimberly-Clark, andTechHub.
(Read more about the panel of judges below or on the BreakOut site:http://breakout.drdobbs.com)
The BreakOut competition aims to support developers financially, while providing exposure needed to become the next Angry Birds or WhatsApp.
In addition to receiving a cash prize of $10,000, the winner will be interviewed by J.D. Hildebrand, editor-at-large of Dr. Dobb’s.
The award, open to developers worldwide over 18 years old, opens today and closes on August 28, 2012. CAST and Dr. Dobb’s will announce the winner on September 13, 2012.
To enter, register at BreakOut.DrDobbs.com, download the Highlight Application from the website and use it to perform the analysis on the application and upload the results.
Monday, May 14th, 2012
CHICAGO – SilkRoad, a provider of social talent management solutions, has completed a $35 million Series C financing round.
New investors include Keating Capital (Nasdaq: KIPO) and NTT Finance (NYSE: NTT). Existing investors including Intel Capital, Crosslink Capital, Foundation Capital, Azure Capital and Tenaya Capital, amongst others, invested in the oversubscribed round.
This new funding will support worldwide expansion and product innovation in preparation for a potential 2012-2013 initial public offering. The company has raised a total of $129 million.
Global human capital management (HCM) spending is expected to hit $8.1 billion by 2015, according to IDC. ’
Additionally, the recent wave of acquired talent management companies is further proof of the significant market opportunity expected. As the economy continues to recover, HCM will continue to be one of the hottest areas for IT spending.
Wednesday, May 9th, 2012
The vast majority of people are using mobile technology today that they do not necessarily trust, according to Juniper Networks (NYSE: JNPR) Trusted Mobility Index.
The global survey of 4,037 mobile device users and IT decision-makers found mobile technology adoption is outpacing confidence.
According to the survey, individuals are using more mobile devices, applications, services and networks than ever before and they are accessing critical personal and professional information while “on the go.”
Trust uncertain despite growth
Despite this growth, consumer trust is uncertain.
Just 15 percent of respondents have a great deal of confidence in the security of their mobile devices and services, while the vast majority — 63 percent — are at a crossroads and simply do not know if they should trust that their mobile experiences are secure.
This lack of consumer confidence puts mobile adoption at risk.
The survey found that all it would take is a single security vulnerability — real or perceived — for people to change their mobile behaviors or abandon certain mobile services altogether.
The majority of people (71 percent) said they would stop using critical services like online banking (78 percent), that they would no longer send private communications (57 percent) and they would stop viewing medical (54 percent) or work-related information (52 percent).
According to the survey, mobile security is an important issue that affects everyone — not just corporations — and many have a part to play in building more trusted mobile experiences.
“The mobile revolution is unleashing massive opportunities, but our research shows we are at a critical turning point,” said Nawaf Bitar, senior vice president, Security Business unit, Juniper Networks.
“The speed and scale at which mobile innovations can have a positive impact on society will depend on the industry’s ability to address new security vulnerabilities before they undermine people’s sense of safety. We must act now to protect and preserve trust in mobility.”
Additional Key Findings Include:
A Complex and Confusing Mobile Landscape
- Mobile users worldwide own an average of three Internet-connected devices, while nearly one in five people (18 percent) own five or more devices.
- Three-quarters (76 percent) of mobile users access their banking or personal medical information while on the go, while 89 percent of respondents who use their personal devices for business purposes, say they access sensitive work information.
- Further, the trend toward a “bring your own device” (BYOD) enterprise is creating new concerns for IT leaders, with nearly half of all respondents using their personal device for work (41 percent) without permission from their company.
Key Stakeholders in Trust
- Mobile users rank network security (69 percent) and network reliability (45 percent) as the top two drivers of trust in their mobile devices, followed by device security (43 percent).
- The majority of mobile device users (63 percent) hold service providers most responsible for protecting their sensitive data, followed by device manufacturers (38 percent) and software security providers (34 percent).
- For advice on mobile security, people look to industry security experts (20 percent), service providers (14 percent), software security providers (13 percent) and device manufacturers (10 percent).
Friday, November 18th, 2011
MOUNTAIN VIEW, CA – Fenwick & West,a law firms providing comprehensive legal services to high technology and life science clients says the results of its Third Quarter 2011 Silicon Valley Venture Capital Survey shows strong valuations for venture financings continued during the third quarter in the Valley. Internet, digital media and software firms performed best.
The Third Quarter 2011 survey analyzed the valuations and terms of venture financings for 113 technology and life science companies headquartered in the Silicon Valley that reported raising capital in the third quarter of 2011.
Up rounds exceeded down rounds
“During the third quarter of 2011, up rounds exceeded down rounds 70% to 15% with 15% flat. This was an increase from the second quarter of 2011, when up rounds exceeded down rounds 61% to 25%, with 14% flat.
Series B rounds were especially strong with 89% up rounds. The was the ninth consecutive quarter in which up rounds exceeded down rounds,” said Barry Kramer, partner in the Corporate Group of Fenwick & West and co-author of the survey.
An up round is one in which the price per share at which a company sells its stock has increased since its prior financing round. Conversely, a down round is one in which the price per share has declined since a company’s prior financing round.
The Fenwick & West Venture Capital Barometer™ – which measures the change in share price of Silicon Valley companies funded during the quarter compared with the share price of their previous financing round – showed a 69% average price increase for the quarter, a slight decrease from the 71% reported in the second quarter of 2011.
Additionally, one of the companies in the internet/digital media industry had a 1,500% up round, and were this company excluded the Barometer would have been 54% for the quarter.
“This was also the ninth consecutive quarter in which the Venture Capital Barometer was positive,” said Kramer.
Internet, digital media, software best performing
“The best performing industries in the quarter from a valuation perspective were internet/digital media and software (including a significant number of “software as a service” companies and companies building applications for mobile devices), which substantially outpaced the other industries, followed by hardware and cleantech, while the life science industry continued to lag,” added Michael Patrick, partner in the Corporate Group of Fenwick & West and co-author of the survey.
“The third quarter of 2011 was a mixed quarter for the venture capital industry, with healthy valuations, solid amounts of investing and an improved M&A environment. However fundraising by venture funds, IPOs, venture capitalists’ confidence level and Nasdaq, were all off significantly.
Nasdaq has recovered significantly in 4Q11 to date, and Groupon had a successful IPO, but the macro environment continues to be unpredictable, and accordingly the future direction of the venture environment is uncertain,” added Patrick.
Both venture capitalists and entrepreneurs tells us that valuations on the East Coast and the Southeast are not on a par with those on the West Coast, particularly in Silicon Valley. Perhaps that will bring more West Coast VCs into the heartland and the opposite coast to hunt deals, but they do seem to have an aversion to too many cross-country flights.
Complete results of the survey with related discussion are posted on Fenwick & West’s website atwww.fenwick.com/vctrends.htm.
Monday, October 24th, 2011
New global e-commerce research from Pitney Bowes Inc. (NYSE: PBI) reveals that one-size does not fit all when it comes to consumers’ online shopping preferences around the world.
While international shoppers share some characteristics, the survey reveals key differences among consumers in many countries. U.S. retailers looking to expand their businesses online to international markets should consider the unique consumer shopping behaviors and preferences in each country.
Commissioned by Pitney Bowes, the polling firm ORC International surveyed approximately 10,000 adults across 10 countries regarding shopping habits and preferences. Consumers were polled in Australia, Brazil, Canada, China, France, Germany, Japan, South Korea, the United Kingdom, and the United States.
Online shopping a global habit
Online shopping is a truly global habit, according to the research. Overall, 93 percent of consumers polled have purchased products online, with 49 percent doing so during the last 30 days. Consumers in Germany,
South Korea and the U.K. were the highest for making online product purchases (98 percent) followed closely by Japan (96 percent). In Canada, where online shopping is least prevalent, more than four out of five (82 percent) reported having bought goods online.
The survey also found that international shoppers want four basic things when purchasing products online: competitive prices (71 percent); a broad selection of products (42 percent); easy, intuitive checkout (35 percent); and low costs for shipping, duties and taxes (35 percent).
Price of products was the most important consideration for purchasing products online in all 10 countries. However, other consumer preferences varied by country. For example:
- Ease and speed of the online checkout process was more important to consumers in Germany and South Korea (both 59 percent), but much less important in Japan (11 percent).
- French consumers were seven times more interested in the ability to track an order than Japanese consumers (37 percent versus five percent).
- Accurate delivery date estimates were more important to consumers in China and South Korea (both 20 percent) but less important in Canada (10 percent).
- A clear and easy to understand return policy was almost three times more important to consumers in China (36 percent) than to consumers in Brazil and the U.S. (both 13 percent).
“Given today’s economic situation, international e-commerce is becoming even more enticing as U.S. products are becoming more attractive and affordable for international buyers,” said Jay Oxton, president of mail services, Pitney Bowes.
“However, to be successful, retailers need to ensure they can offer a simple and seamless online shopping experience, and have a clear understanding of consumers’ purchasing, shipping and communications preferences in each market.”
Significant differences in why shoppers abandon carts
The study also showed significant differences in why the consumers surveyed abandon online shopping carts. High shipping costs (67 percent), additional fees at time of delivery such as duties and taxes (47 percent), and the delivery time (39 percent) were the top disincentives to complete purchases online. Consumers in the U.S. (83 percent), U.K. (79 percent) and Japan (78 percent) are three times more sensitive to shipping prices than consumers in South Korea (25 percent).
The survey also revealed insight on what types of products international consumers are more likely to purchase online than in a brick-and-mortar store. Top product categories for online purchases included books, videos and music (58 percent), computer hardware and software (41 percent), and consumer electronics (38 percent).
Consumers in China indicated they are more likely to purchase apparel (58 percent) and footware (53 percent) online versus in a store. As a matter of fact, for almost every category included in the survey, respondents in China are more likely to purchase products online with the exception of computer hardware and software (39 percent), and jewelry/watches and accessories (16 percent).
When asked about preferences for receiving information on new products, promotions or other offers from retailers/merchandisers, 59 percent of global consumers indicated they prefer e-mail communications.
A quarter prefer information from catalogs or direct mail
Twenty-five percent of respondents said they prefer to receive this information in catalogs and direct mail, indicating that mail is another strong channel for online retailers. Four percent of respondents prefer to receive information via text messaging, and social media channels (Facebook and Twitter).
Looking at all 10 countries, consumers in Brazil had the highest preference for receiving new product and promotional information via e-mail (72 percent). Consumers in Australia (33 percent) had the highest preference for receiving information in catalogs and direct mail followed closely by Canada (32 percent), Germany (31 percent) and the U.S. (30 percent).
Text messaging information had the highest preference with consumers in South Korea (13 percent), Japan (12 percent) and China (nine percent). Consumers in China (11 percent), and Brazil and South Korea (both five percent) responded the highest for receiving information via social media channels.
Friday, April 15th, 2011
WASHINGTON, DC – Venture capitalists invested $5.9 billion in 736 deals in the first quarter of 2011, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA), based on data provided by Thomson Reuters.
Quarterly investment activity increased 5 percent in terms of dollars but fell 11 percent in number of deals compared to the fourth quarter of 2010 when $5.6 billion was invested in 827 deals.
The quarterly deal count represents the lowest number of deals in a single quarter since the third quarter of 2009. However, the first quarter of 2011 marks the first time in four years that the amount invested in the first quarter has shown an increase over the fourth quarter investment amount.
“The first quarter investment total is setting us on a path for a solid level of investing in 2011. While we did see a drop in deal volume, the dollars invested remains strong,” noted Tracy T. Lefteroff, global managing partner of the venture capital practice at PwC US. “Accordingly, we’re seeing an uptick in average deal size, which hit $8.0 million in Q1for the first time since the first quarter of 2007.”
She added, “And, in the first quarter, 14 companies received funding rounds of $50 million or more, with four of those deals worth more than $100 million. We haven’t seen this many deals worth $50 million or more in a single quarter since the third quarter of 2001. This is a clear indicator that VCs are seeing innovative companies walk through their doors and that the entrepreneurial spirit of America is alive and well and thriving.”
“Despite recent hype about both funding gaps and bubbles within the venture capital industry, the first quarter demonstrates an investment pace that is reasonable, rational and relevant to the long term nature of our business,” said Mark Heesen, president of the NVCA. “What we are not seeing this quarter is just as critical as what we are seeing.”
He expalined, “We are not seeing venture capital dollars flooding any particular sectors, including the Internet or clean technology. And we are not seeing a mass exodus from sectors, such as life sciences, where significant challenges lie.”
Also, he said, “What we are seeing is a commitment to funding companies through the various stages of their lifecycles, even in the later stages when capital needs intensify substantially. What this deliberate and prudent pace of investment lacks in hype, it makes up for in sustainability, and we are very encouraged for the coming year.”
The software industry received the highest level of funding with $1.1 billion invested in the first quarter. Clean Tech saw a 26 percent increase in dollars over the fourth quarter last year, reaching $1 billion and the number of deals increased by 11 percent.
Internet-specific companies also received more than one billion dollars with $1.2 billion going into 171 deals in the first quarter, a 19 percent decrease in dollars and an 18 percent decrease in deals from the fourth quarter of 2010 when $1.5 billion went into 208 deals.
Monday, February 21st, 2011
Mark Heesen, President, NVCA
NEW YORK – Deal flow increased in venture capital investment during 2010 for the first time in two years and posted the first positive year-over-year gain since 2007, according to the latest MoneyTree Report from the National Venture Capital Association (NVCA) and Pricewaterhouse Coopers.
Venture funds invested 19 percent more at $21.8 billion in 2010 and deals grew by 12 percent, totaling 3,277.
Mark Heesen, president of the NVCA said, “We were clearly in recovery mode and we hope this continues in 2011.” You can catch up with Heesen and hear his latest perspective on the VC industry in person at TechMedia’s fifth annual Southeast Venture Conference in Atlanta March 2-3.
Although venture funding slowed in the last two quarters of 2010, a strong first quarter and better second quarter kept the year’s numbers in positive territory.
Companies landing venture backing for the first time increased 30 percent, which is a good sign that VCs are deploying capital again, after hoarding cash for portfolio firms during the recession.
Software firms grabbed the biggest slice of venture pie last year, with 835 firms getting $4 billion, about a 20 percent increase over 2009.
Clean tech companies saw an increase of 76 percent in dollars invested and the sector tallied 37 percent more deals than in 2009. Clean tech accounted for five of the ten venture deals chalked up in the last quarter of 2010.
The last quarter’s largest deal shows the continuing attraction of social media. Investors poured $200 million in microblogging site Twitter, making it the second largest deal of the year. Only the $350 million invested in California clean tech firm Better Place was larger.
Silicon Valley asserted its continuing dominance and accounted for five of the biggest deals in 2010.
Most sectors saw double-digit increases in investments over 2009, including telecom (up 77 percent) and IT services (up 44 percent).
Internet specific companies saw a 28 percent boost in dollars ($1.2 billion) and was up 14 percent in deals (190).
Wednesday, January 12th, 2011
BOCA RATON – Aplicor, a company selling customer relationship management (CRM) and enterprise resource planning (ERP) software, has closed on a $1.25 million equity round, according to a regulatory filing.
The company’s Software as a Service CRM application includes Sales Force Automation, Marketing Automation and Customer Support modules. The CRM application, says Aplicor, automates customer facing processes to improve marketing effectiveness, increase sales win rates, enhance customer service levels, grow customer share and decrease customer churn.
Founded in 1999 before providing software online acquired the “cloud” cachet it has today, the company has has been recognized with nineteen (19) industry awards including four Users Choice Awards, two CRM Excellence Awards, two Technology Business of the Year awards, Hosted CRM Winner, CRM WizKids Winner, Internet Technology Showcase Winner and the Best of the Best Award.
The company disclosed the raise in a filing with the US Securities and Exchange Commission.
Friday, October 15th, 2010
NEW YORK – Venture capitalists invested 31 percent fewer dollars in companies during the third quarter of 2010 compared to the second quarter, with the number of deals falling 19 percent, according to the MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association based on data provided byThomson Reuters.
At TechJournal South, we have noticed a distinct drop in the number of funding deals in the Southeast. Unless the trend changes between now and the end of the year, we suspect the numbers could be worse for the fourth quarter.
Venture capitalists invested $4.8 billion in 780 deals in the third quarter of 2010. The decrease in dollars invested was in large part due to the absence of large rounds in the Clean Technology sector, which drove last quarter’s higher investment levels. Yet with few exceptions, investment in all industry sectors slowed this quarter.
Still, venture investors continued to invest more into first-time deals versus follow-on rounds, the report says. That’s a good trend, because during the recession, many VC firms keep dry powder for follow-on rounds in their portfolio companies and reduced the number of their new investments.
“While overall funding in traditionally strong sectors like Life Sciences and popular Clean Technology were down, Biotechnology continued to bring in significant funding while Software took the lead as the top generator of VC dollars in Q3,” said Tracy T. Lefteroff, global managing partner of the venture capital practice at PwC. “Compared to the third quarter of 2009, investing remained relatively flat; however, despite declines for the quarter, funding remains on course to pass investment levels of 2009.”
Mark Heesen, president of the NVCA, looked for positive signs in the third quarter numbers.
“Despite investment declines, there are reassuring signs of stability in the third quarternumbers,” he said. “While the burgeoning clean
technology industry will experience significant investment volatility as the sector matures, the established software and life sciences sectors continue to benefit from a steady commitment of venture capital dollars being put to work within meaningful pockets of innovation.”
He added, “Cloud computing, social media and security continue to show tremendous promise on the IT side while medical advances abound in biotechnology and medical device fields. But what is even more reassuring is that first time financings are holding strong, evidencing that venture investors are making a steady stream of new bets and filling the innovation pipeline, driving our industry and our future economy.”
Industrywise, software regained its position as the number one sector for investment with $1 billion going into 190 rounds. Even that is a 13 percent decrease in dollars and a 21 percent decline in deal volume from the second quarter.
The Biotechnology industry received the second highest level of funding for all industries in the quarter with $944 million going into 108 deals. This level of investment represents a 32 percent decrease in dollars and a 29 percent decrease in deals.
The Clean Technology sector, which crosses traditional MoneyTree industries andcomprises alternative energy, pollution and recycling, power supplies and conservation, saw a 59 percent decrease in dollars to $625 million compared to the second quarter
when venture capitalists invested $1.5 billion. The number of Clean Technology deals completed in the third quarter also declined by 26 percent to 58 deals compared with 78 deals in the second quarter.
For the complete data, including regional breakdowns see the NVCA site.
Monday, June 28th, 2010
BALTIMORE, MD – JMI Equity, a venture capital firm that specializes in backing software and business services companies, is raising a 7th fund, according to a filing with the U.S. Securities and Exchange Commission. The filing does not disclose a fund amount.
JMI’s $600 million Fund VI launched in 2007.
Founded in 1992, JMI has invested in more than 85 companies throughout North America and has approximately $1.3 billion of committed capital under management. Its portfolio includes Blackbaud, DoubleClick, DriveCam, Jackson Hewitt, Mission Critical Software, NEON Systems, Transaction Systems Architects, Unica Corporation and Vertafore.
Typical JMI investments range from $10 million to $60 million. For larger transactions, it sometimes leverages its large base of Limited Partners, many of whom have the ability to make sizeable co-investments alongside JMI. It limited partners include public and private pension funds, fund of funds, endowments, foundations and financial institutions.
The company also has an office in San Diego, CA.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Monday, May 17th, 2010
ALPHARETTA, GA – MDatacor, a company selling software to support health information exchange between doctors and patients, has raised $2.6 million, according to a regulatory filing.
The company says the ability of its platform to extract clinical data from transcription notes, and combine it with claims, pharmacy and clinical data from registries, electronic medical records, practice management and labs systems means it provides the most complete patient data set in the industry.
The company raised $3 million from private investors and strategic partner DIANON Systems Inc. in 2002.
MDatacor says its product is used by more than 7,000 doctors to serve more than seven million patients.
Friday, February 26th, 2010
ATLANTA – PowerPlan Consultants Inc., maker of integrated budgeting, project, asset, depreciation, and tax management software for asset-intensive industries, has closed on a $110 million equity offering, according to a regulatory filing.
The company said earlier this month it had received a strategic investment from funds managed by TPG Growth and JMI Equity.
The company sells its PowerPlant and PowerTax products to asset intense industries such as electric, gas, and water utilities, telecom and cable service providers, railroads, petrochemical and pipeline industries. PowerPlan has a growing client base oAtf over 130 organizations, including some of North America’s largest players in these industries.
It offers a full spectrum of software products and consulting services necessary to implement and maintain a fully-automated and cash flow optimized project management and asset accounting process for businesses with large, complex asset bases.
The firm says it will use the funds to expand into new verticals and its geographic reach.
It disclosed the amount of the financing in a filing with the U.S. Securities and Exchange Commission.
Thursday, February 25th, 2010
MATTHEWS, NC – Pokertek has named Mark Roberson its new CEO.
Roberson will also continue to serve as the company’s Chief Financial Officer and Treasurer.
PokerTek Inc. (NASDAQ: PTEK), headquartered in Matthews, NC, develops and markets products for the casino and amusement industries. PokerTek developed PokerPro automated poker tables and related software applications.
“As Acting CEO, Mark has taken charge of the company’s strategy and led an impressive business turnaround over the past nine months,” said Lyle Berman, chairman.
Monday, February 22nd, 2010
By Allan Maurer
CHARLOTTE, NC – In June 2002, AvidXchange founders Mike Praeger and David Miller made a sales call on Richard Ross of Branch Properties in Atlanta to discuss their real estate software product.
“Ross told us he had no interest in our purchasing product,” they say. But, he said he loved their invoice payment module and would buy that if they would sell it separtely.
“We studied that idea carefully during the long drive back to Charlotte, or at least as carefully as you can study any idea riding at 90 mph with take-out in one hand and a cell phone in the other,” they write in their brief company history.
That led to their AvidInvoice product for the real estate sector and the then rapid growth of Charlotte-based AvidXchange.
The company is one of 60 innovative Southeast firms presenting at the upcoming Southeast Venture Conference (SEVC) in Tysons Corner, VA, Wednesday and Thursday Feb. 24-25 (see:www.seventure.org for more information).
Expanded client base
The 80 employee company has since expanded its client base to include retail, residential real estate, banking, insurance, and education, says Amy Richardson, director of marketing.
The company’s product automates a client’s payroll process with goal of helping them move away from paper, Richardson tells us. She says about 50 percent of its customer base has managed that so far.
Invoices are put into the AvidInvoice system and according to the client’s business rules, go through an approval sequence. After final approval, the invoices go to accounting and are
2009 was best year ever
Last year the company rolled out its newest product, AvidBill, which lets a client’s vendors go to a Web portal and submit bills through pdf files.
Richardson tells us “Last year was our best ever.” One client saved $800,000 a month every month the first year using our streamlined process,” she says.
She says among other factors in the firm’s success, it’s implementation process has become faster-requiring as little as a wee-and often can now be done remotely.