Posts Tagged ‘Bethesda’
Monday, January 17th, 2011
 BETHESDA, MD – Kajeet, a company formed when its three founder-fathers discussed how kids, cell phones, and parents could work best, has raised $18 million in new backing, according to a regulatory filing.
Kajeet (spelled with a small “k,” launched its pay-as-you-go for kids with parental controls in 2007. It lets tweens, teens and parents configure their phones to fit their needs. CEO Daniel Neal founded the company in 2003.
The company has raised a total of about $80 million in venture funding from investors who include Draper Fisher Jurvetson Growth Fund, Bessemer Venture Partners, Fidelity Ventures, Gabriel Venture Partners, InterWest Partners, BlueCrest Capital Finance, and Jefferson Growth Fund.
The company presented at TechJournal South’s 2008 Southeast Venture Conference. (SEVC).
The 2010 SEVC is set for Atlanta March 2-3.
The kajeet phone’s features include the Configurator, which lets parents decide when kids can use their phone, and allows them to turn surfing on or off, IMs on or off, picture mail and other such features on or off. “It adjusts to your needs,” says Neal.
Neal, who has substantial telecom experience, says the idea for kajeet first stuck him while he was working for Sprint in 1996-97 when he started thinking about kids and cell phones. At the time, he did not have children. But it went onto a back burner as he went off to launch U.S. Internetworking Inc., and later run VCampus Corp. a public e-learning company, and had children of his own.
“I kept thinking about it. I saw the market evolve. Three to five major players are contending for the mass market. But that leaves open these sizeable niches. Our sweet spot is ages 11-16,” he told us in an interview in 2008.
The company disclosed the latest financing in a filing with the US Securities and Exchange Commission. Principals named in the filing inlcuded Randy Glein of DFJ and Frederick W.W. Bolander of Gabriel Venture Partners.
Tags: and Jefferson Growth Fund., Bessemer Venture Partners, Bethesda, BlueCrest Capital Finance, Draper Fisher Jurvetson Growth Fund, Fidelity Ventures, financing, Gabriel Venture Partners, InterWest Partners, kajeet, MD, pay-as-you-go kid's phone service, Southeast Venture Conference
Posted in Internet/New Media, Money, Potomac, Washington, DC | 1 Comment »
Monday, January 3rd, 2011
 BETHESDA, MD – Telcare Inc., a Bethesda-based company providing wireless connections between chronically ill patients and their doctors, has raised $4.46 million of a $5 million mixed securities offering, according to a regulatory filing.
Founded in 2008, Telcare is developing a glucose meter for diabetics due for release in the second quarter 2010, that sends test results to a care management server and provides instant feedback and coaching to the patient.
The TELCARE blood glucose meter platform is based on an already FDA-cleared glucose meter platform that meets the latest standard of accuracy and offers auto-coding test strips, ultra-low sample volume, and alternate site testing.
The global market for glucose meters and strips is targeted at the more than 20 million Americans with diabetes with an $8 billion market size.
Telcare says Home glucose monitoring is universally recognized as essential to the management of diabetes and prevention of complications. A one unit reduction in A1c, the gold standard for glucose control is proven to result in a 37 percent reduction in complications and costs of care.
The company’s product has not yet been cleared by the U.S. Food and Drug Administration for sale.
The company disclosed the raise in a filing with the U.S. Securities and Exchange Commission.
Tags: Bethesda, glucose monitor, MD, Telcare, wireless medicine
Posted in Healthcare, Maryland, Medical Device, Money, Potomac, Telecommunications | Comments Off
Monday, August 16th, 2010
 BETHESDA, MD & FRANKLIN LAKES, NJ – Medco Health Solutions Inc. (NSE:MHS) has agreed to buy Bethesda, MD-based United BioSource Solutions for about $730 million in cash.
Medco says the acquisition extends its core capabilities in data analytics and research.
We’re continuing to see significant dealflow in the Maryland biotech and pharma scene, from startups to established players.
UBC is an information services business. Its services revolve around safety and risk management, as well as health economics and outcomes research, and have included large prospective safety studies, risk evaluation and mitigation studies, cost-benefit and cost-effectiveness evaluations, budget-impact modeling, and epidemiologic studies.
It has had an annual growth rate of more than 20 percent and anticipates 201o revenues of about $280 million.
“To meet the three main objectives of national healthcare reform – improving quality and reducing costs in order to extend access – it is more critical than ever to ensure that our use of medicines is driven by scientific evidence and proven economic value,” said David B. Snow Jr., Medco Chairman and CEO.
“The acquisition of UBC represents Medco’s ongoing commitment to provide innovation and value in healthcare, extending our global footprint into the areas of health information technology, information services and research.”
UBC
Tags: Acquisitions, Bethesda, Maryland, Medco, UBC
Posted in Acquisitions, Biotech, Healthcare, Maryland, Pharma, Potomac | Comments Off
Tuesday, July 27th, 2010
 BETHESDA, MD – Knewco Inc. has raided $1.2 million in new equity backing, according to a regulatory filing. The company’s technology helps advertisers target online customers based on their interest in concepts related to their products. It also helps publishers improve their SEO.
Knewco raised $3.1 million previously from investors including Alfred Berkeley, former president of Nasdaq, OmniCapital, and GIV Venture Partners in raises in 2007 and 2009.
Principals named in the filing with the U.S. Securities and Exchange Commission include Berkeley, Arun Netravali of OmniCapital, and Don Peterson of the Teachers Insurance and Annuity Association based in New York.
Founded in 2006, Knewco helps readers of online content search for addtional content related to the same concepts on the site. Advertisers can target customers interested in concepts related to their products. The company says the technology results in a 3 percent click through rate, which is high compared to industry standards.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Alfred Berkeley, Bethesda, financing, Knewco, Maryland, targeted advertising, text analysis
Posted in Internet/New Media, IT, Marketing, Maryland, Money, Potomac | Comments Off
Friday, July 16th, 2010
 BETHESDA, MD – Intelliworks Inc., which sells relationship management software for higher education, has raised $1.7 million in yet another funding of an education-tech company, according to a regulatory filing. The Series E investment brings total venture backing for Intelliworks to $22.3 million.
Directors and investors cited as principals in the filing with the U.S. Securities and Exchange Commission include Mark Frantz, Chevy Chase, MD-based Red Shift Ventures; Arun Gupta, Alexandria, VA-based Columbia Capital; and Roger Novak, Bethesda-based Novak Biddle Venture Partners.
We reported Intelliworks $2.25 million D round in April 2009. Columbia Capital and Novak Biddle supplied the equity while Toronto-based MMV Financial contributed a $1.5 million venture loan.
It raised a $4 million C round in April 2008.
We have noticed an increasing number of venture financing deals for companies in the education technology field. Are slashed federal, state and local budgets leading to the educational establishment recognizing a need for the efficiencies that technology brings? Most firms selling to the education market are using SaaS models, as Intelliworks does, so installing their software generally does not require large capital outlays.
Intelliworks enables enrollment, admissions and marketing professionals to make purposeful connections with students through its web-based CRM, program admissions and marketing automation solutions built specifically for higher education.
Hundreds of organizations, ranging from large colleges and universities to programs and departments within individual institutions, use Intelliworks’ software-as-a-Service platform to recruit students, market their programs, grow enrollment and drive tuition-based revenue.
Diane Raymond, Director of Admissions at New England College, which has seen an 8 percent increase in enrollment using Intelliworks, said in a statement at the time of the company’s C round said that “The Intelliworks solution allowed us to improve the efficiency of our admissions department by automating tasks such as outbound marketing, event registration and contact management.” –By Allan Maurer
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Bethesda, Columbia Capital, finanancing, higher education software, Intelliworks, IT, Maryland, MMV Financial, Novak Biddle, Red Shift Ventures
Posted in Education, Internet/New Media, IT, Maryland, Money, Potomac | Comments Off
Thursday, July 8th, 2010
 ATLANTA – TerraGo Technologies, a company selling software that lets people without sophisticated GIS experience work with complex maps and images, has closed on a $3 million financing, according to a regulatory filing.
Principals cited in the filing with the U.S. Securities and Exchange Commission include Rich Harris of RedShift Ventures, based in Chevy Chase, MD, and Anne Miglarese, and Joseph Del Guercio of Bethesda, MD-based CNF Investments, all directors.
The company raised a $6.3 million Series A round in May 2007 led by RedShift Ventures with participation from CNF Investments, the venture capital arm of Clark Enterprises Inc., and In-Q-Tel, an investment fund that supports missions of the Central Intelligence Agency and larger U.S. intelligence community.
TerraGo Technologies delivers software applications that extend the access and application of maps and images for non-GIS users and customers.
More than 700 organizations, including many defense and intelligence agencies, utility companies, public safety/emergency response departments, natural resource management and engineering firms, depend on TerraGo software.
“In a nutshell,” says TerraGo VP of Marketing Chris Watson in a previous interview with TechJournal South, “We help companies take the investments they made in maps and images, big GIS systems or a relationship with Google Earth and disseminate the information more effectively to non technical people.
“A large number of people don’t even know what GIS stands for, but need the information. Our software allows them to take maps into the field and make annotations, edit them electronically, attaché audio or video, and send them back to the system of record.”
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Previously on TechJournal South:
TerraGo unleashes the power of geospatial data
Tags: Atlanta, Bethesda, Chevy Chase, CNF Investments, financing, GIS, MD, Redshift Ventures, TerraGo
Posted in Georgia, Internet/New Media, IT, Money | Comments Off
Tuesday, June 29th, 2010
 BETHESDA, MD – Pervacio Inc., a company selling mobile device management software and services, has raised $3.6 million of a $5.3 million offering, according to a regulatory filing. The offering includes equity and conversion of debt into stock.
Founded in 2004, Pervacio raised a $500,000 first round. Founders Sanjay Kanodia, CEO and Alex Chernyakov are veteran software executives.Investors include Bethesda-based Vital Financial and Massachusetts-based Long River Ventures.
The company’s Revolution Device Management Platform is comprised of 13 individual products and 27 features, services and agents delivered over a Web interface. It is a device and network agnostic solution, and supports Windows Mobile, Palm OS, Windows Laptops, BlackBerry, Symbian, Android & iPhone based devices, while the server component runs within a SaaS environment.
With the explosion of smartphone use in companies, we suspect that Pervacio is poised to do well. According to news releases on its Web site, it weathered the economic downturn well.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Alex Chernyakov, Bethesda, financing, Long River Ventures, Maryland, mobile device management, Pervacio, Sanjay Kanodia, telecom, Vital Financial
Posted in Internet/New Media, IT, Maryland, Money, Potomac, Telecommunications | Comments Off
Tuesday, June 29th, 2010
 ATLANTA – TerraGo Technologies Inc., a company selling software that lets people without sophisticated GIS experience work with complex maps and images, has raised $1.88 million toward its targeted $3 million round, according to an amended filing with the U.S. Securities and Exchange Commission.
We reported in May that the company had closed on $1 million of the round. Principals cited in the filing include Rich Harris of RedShift Ventures, based in Chevy Chase, MD, and Anne Miglarese, Meade Sutterfield and Joseph Del Guercio of Bethesda, MD-based CNF Investments, all directors.
The company raised a $6.3 million Series A round in May 2007 led by RedShift Ventures with participation from CNF Investments, the venture capital arm of Clark Enterprises Inc., and In-Q-Tel, an investment fund that supports missions of the Central Intelligence Agency and larger U.S. intelligence community.
TerraGo Technologies delivers software applications that extend the access and application of maps and images for non-GIS users and customers.
More than 700 organizations, including many defense and intelligence agencies, utility companies, public safety/emergency response departments, natural resource management and engineering firms, depend on TerraGo software.
“In a nutshell,” says TerraGo VP of Marketing Chris Watson in a previous interview with TechJournal South, “We help companies take the investments they made in maps and images, big GIS systems or a relationship with Google Earth and disseminate the information more effectively to non technical people.
“A large number of people don’t even know what GIS stands for, but need the information. Our software allows them to take maps into the field and make annotations, edit them electronically, attaché audio or video, and send them back to the system of record.”
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Previously on TechJournal South:
TerraGo unleashes the power of geospatial data
Tags: Atlanta, Bethesda, Chevy Chase, CNF Investments, financing, GIS, MD, Redshift Ventures, TerraGo
Posted in Georgia, Internet/New Media, IT, Maryland, Money, Potomac | Comments Off
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