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Yearly Archives: 2020
March 5, 2020 – Mailprotector, a Greenville, SC-based cybersecurity company, raised $5 million in growth equity funding from Ballast Point Ventures. The channel-centric company will use that capital to accelerate product development, grow sales and marketing efforts, and expand services to its strong and growing network of Managed Service Providers (MSPs). As part of the expansion, the company plans to add more than 30 positions across all departments at its Greenville, SC headquarters and other locations around the country.
The company has over a decade of experience providing highly available and highly secure email solutions to organizations around the world. As a cloud-based email security, compliance, encryption, and hosting platform, Mailprotector’s solution is engineered from the ground up with partners’ management needs as a top priority. Mailprotector puts a premium on user experience and security with its advanced product stack, including CloudFilter, SafeSend, SecureStore, XtraMail, CloudMail, Exchange+, and Bracket. The company’s patent-pending flagship email encryption product, Bracket, is as simple to use as it is secure.
“Mailprotector is dedicated to empowering our channel partners with highly valued services and profitable recurring revenue streams,” said David Setzer, Mailprotector founder & CEO. “We know that email is still the prime vector for cyber-attacks, especially financially crippling ransomware and phishing threats. This investment means we can supercharge the development of our world-class cybersecurity protection tools for our partners and their clients, giving them an even stronger first line of defense against cyber threats and user error,” Setzer added. “We were thrilled to find in Ballast Point a firm that aligns with our channel partner commitment and one who respects our stewardship responsibilities in those relationships.”
“We are excited to partner with David, CTO Ben Hathaway, and the entire Mailprotector team to drive continued email security leadership and technology innovation,” said Robert Faber, Partner at Ballast Point Ventures, who will join Mailprotector’s Board of Directors. “BPV has a long history of supporting high-growth software companies throughout the Southeast, and we have been impressed with David and his team as they have built industry-leading email security tools with limited outside capital investment.”
Mailprotector empowers its users with a portfolio of cloud-based email security, management, and hosting services sold exclusively through the channel to businesses, government, and non-profits around the world. Products include inbound and outbound email security, email continuity, email archiving, email encryption, and business-class hosted email solutions. More information is available at www.mailprotector.com.
About Ballast Point Ventures
Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately-owned companies, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in the firm’s target industries, including software, technology-enabled business services, and healthcare. Ballast Point Ventures has $360 million under management across three Funds and seeks to make initial equity investments ranging in size from $4 million to $10 million. For additional information, visit www.ballastpointventures.com.
Source: Intelligent Retinal Imaging Systems (IRIS)
PENSACOLA, Fla., Jan. 29, 2020 /PRNewswire/ — Intelligent Retinal Imaging Systems (IRIS), the industry leader in telemedicine solutions for diabetic retinal evaluation, was announced as a grantee for the Microsoft AI for Health Initiative. AI for Health, Microsoft’s newest initiative under their AI for Good program, will encompass a $40 million, 5-year program that will leverage AI to empower organizations like IRIS, and other companies in the realm of improving health.
“It has always troubled me when patients would come into my practice with severe late-stage eye damage and I couldn’t do anything to save their eyesight,” said Dr. Sunil Gupta, Retinal Surgeon and Founder at IRIS. “The opportunity to work with some of the most talented people in the world at Microsoft means that together we will generate new ideas and insights that will ultimately improve access to care, improve our ability to find and treat retinal disease earlier, all the while allowing us to more successfully save eyesight.” CEO of IRIS, Steve Martin added, “We are honored to have been chosen to partner with Microsoft through this great initiative. The exciting part about this opportunity is working with Microsoft to explore new technologies that will accelerate the development of AI solutions at IRIS to save people’s vision.”
Diabetic retinopathy is a leading cause of blindness across the world and 463 million people are currently at risk. Early detection and effective treatment can reduce the risk of blindness up to 95%. Microsoft’s collaboration with research and the development of an AI solution will empower IRIS to bring retinal evaluations to underserved populations across the globe in an effort to end preventable blindness. Through the AI for Health initiative, efforts will center on three key areas: Quest for Discovery, Global Health Insights, and Health Equity.
IRIS is one of six initial grantees for the AI for Health initiative and is honored to be recognized with organizations like BRAC, Fred Hutchinson Cancer Research Center, Novartis Foundation, PATH, and Seattle Children’s Research Institute. Each organization will work with Microsoft to use AI to decipher tough issues like discovering the cause of SIDS, eliminating leprosy, and building an ecosystem that allows safe and secure sharing of biomedical data.
The mission of the AI for Good program is to solve humanitarian issues and create a more sustainable and accessible world; this mission, combined with IRIS’ mission to eliminate preventable blindness shows a direct alignment and clearly demonstrates why this partnership will generate good for people.
About Intelligent Retinal Imaging Systems
Intelligent Retinal Imaging Systems (IRIS) is a Pensacola, Fla.-based company founded in 2011, with a vision to end preventable blindness through the development and deployment of retinal diagnostic services. The company’s IRIS solution includes an FDA Class II cleared medical device that has improved quality, expanded access and reduced costs for diabetic retinopathy exams across the U.S. For additional information visit our website: www.retinalscreenings.com
Microsoft (@microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.
Carterra® Closes Financing Round for Continued Growth of the LSA™ Platform for Next Generation Antibody Discovery
Salt Lake City, Utah, USA. Carterra® Inc., the world leader in high-throughput antibody screening and characterization, has closed a $6M round of financing led by Ballast Point Ventures with participation from current investor, Telegraph Hill Partners. The additional funding will support the continued adoption of the innovative Carterra LSA™ high-throughput Surface Plasmon Resonance (HT-SPR) antibody screening platform and the development of new products and applications.
The Carterra LSA revolutionizes the drug discovery process by enabling higher information content assays earlier in the discovery process¬¬—during antibody screening. The LSA can measure binding kinetics and affinities of hundreds of interactions in parallel and perform comprehensive epitope binning experiments on up to 384 antibodies simultaneously. By conducting detailed antibody characterization during screening, the Carterra LSA increases the efficiency and productivity of lead selection and reduces costs during drug discovery and development.
“Carterra’s proprietary technology addresses a key objective of the pharmaceutical industry by helping to minimize the time it takes to develop new therapeutics,” said Matt Rice, Partner at Ballast Point Ventures. “We’re excited to provide resources and guidance as Carterra continues its growth.”
Carterra has seen rapid uptake of its LSA platform among large pharmaceutical companies, biotechs, contract research organizations, and academic labs since its launch in late 2018. “We are honored to work with Ballast Point Ventures and Telegraph Hill Partners in our mission to help scientists push the boundaries of scientific discovery.” said Carterra CEO, Josh Eckman. “Researchers are seeing how the Carterra LSA can significantly shorten the lead selection timeline and provide insights that were not previously possible.”
About Carterra, Inc.
Carterra® is the leading provider of high throughput technologies designed to accelerate and improve the discovery of novel therapeutic candidates. Carterra’s LSA™ instrument, software, and consumables for monoclonal antibody (mAb) characterization deliver up to 100 times the throughput of existing platforms in 10% of the time while using only 1% of the sample required by other systems. The LSA combines patented microfluidics technology with real-time high throughput Surface Plasmon Resonance (HT-SPR) and industry-leading data analysis and visualization software to revolutionize mAb screening. Carterra, Inc. is based in Salt Lake City Utah, and has Customer Experience Centers in Dublin, California, Andover, Massachusetts and Munich, Germany. For additional information, please visit www.carterra-bio.com.
About Ballast Point Ventures
Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately owned companies in the healthcare, software and technology-enabled business services industries. For more information, please visit www.ballastpointventures.com.
About Telegraph Hill Partners
Telegraph Hill Partners, founded in 2001 and based in San Francisco and San Diego, CA, invests in innovative commercial stage life science, medical technology and healthcare companies. For more information please visit www.telegraphhillpartners.com.
January 9, 2020 – SPOTIO, a Dallas-based software company providing cloud-based sales acceleration and performance management solutions for field sales personnel, is pleased to announce a $4.5 million Series A investment from Ballast Point Ventures. The platform’s robust, mobile-first feature set enables sales teams to manage sales territories, execute face-to-face meetings, and optimize the sales pipeline and performance across the outside sales organization. SPOTIO will use the investment to accelerate development of its technology pipeline, add to its sales team, and intensify its marketing efforts.
“Built with the field sales representative and manager in mind, SPOTIO’s platform delivers a comprehensive mobile solution tailored towards providing actionable leads for outside sales reps in the field and unparalleled insight for managers back at the office. We provide both business-to-business outside sales personnel and residential sales teams the tools they need to execute and manage their outside sales activities,” said SPOTIO Founder and Chief Executive Officer, Trey Gibson.
“We are excited to bring an institutional investor into our company and are eager to get to work with Ballast Point Ventures. We look forward to this next leg of the journey and to continue to deliver a comprehensive solution to our many customers.”
“As BPV has gotten to know Trey over the last couple of years, we have been very impressed with the growth and success SPOTIO has been able to achieve with minimal outside investment. Given our focus on partnering with rapidly growing private companies with great management teams in the Southeast and Texas, SPOTIO is a great fit for us,” said Ballast Point Ventures’ Sean Barkman, who will join the SPOTIO Board of Directors.
“We are excited to partner with the entire SPOTIO team to drive continued growth and solidify the platform’s position as the leading outside sales enablement software.”
“We are excited to have another investment in the Dallas area,” continued Robert Faber, who will serve as a Board Observer at SPOTIO. “Trey is exactly the kind of entrepreneur that we want to work with, and we are excited about partnering with him after building a relationship with him for the last several years.”
SPOTIO is a mobile-first solution for outside sales teams to eliminate guesswork, and focus on the highest impact activity. The platform provides managers with real-time visibility into their team’s activities for improved sales development. Sales reps receive access to the mobile application with targeted prospect data, historical knowledge of each account, and document management functionality. Thousands of customers rely on SPOTIO to accelerate growth with their sales teams. SPOTIO is a privately held company based in Dallas, Texas.
For additional information, visit www.spotio.com.
About Ballast Point Ventures
Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including software, technology-enabled business services, and healthcare. Ballast Point Ventures has $360 million under management across three Funds and seeks to make initial equity investments ranging in size from $4 million to $10 million.
For additional information, visit www.ballastpointventures.com.
Abacode, a Fast-Growing Cybersecurity & Compliance Firm, Announces $4.85 Million Investment Led by Ballast Point
TAMPA, Fla., January 9, 2020 – Abacode, Inc., a Cybersecurity and Compliance services firm based in Tampa, FL, is excited to announce a $4.85 million Series A growth equity investment led by Ballast Point Ventures. Abacode will leverage the investment to scale its sales, security operations center and project execution teams, broaden its marketing efforts, and further enhance its technology-enabled service offering.
Abacode, a Managed Security Services Provider (“MSSP”), is a five-year-old company that is transforming the way businesses implement cybersecurity and compliance programs throughout the U.S. and abroad. Abacode has specific expertise in proactively monitoring, detecting, and responding to cyber threats in real-time through the Company’s 24/7 Security Operations Center. Abacode also provides a suite of Governance, Risk, and Compliance (“GRC”) Readiness services helping companies prepare for third-party audits and certifications. Among its many other professional services, the Company has a premier vulnerability assessment package along with digital forensic teams to assist companies in case of a suspected incident or breach. Abacode works with organizations ranging in size from mid-market businesses to publicly traded global enterprises.
CEO and Co-Founder Mike Ferris commented, “We are extremely excited to partner with Ballast Point Ventures as we continue our focus on building a world-class MSSP and invest heavily in scaling our service offerings. BPV was the right partner at the right time. Our visions are perfectly aligned in order to add unique value to our clients and partners alike.”
Current and emerging compliance mandates are forcing companies to take a different approach to how they manage internal data risk and cybersecurity needs going forward. This reality, combined with the flood of new technology products in the marketplace, has added additional complexity and confusion and is one of the primary reasons organizations are working with Abacode. “It’s very fulfilling to see so many market-leading companies reach out to us to help them consolidate their cybersecurity programs under one roof. Cybersecurity and compliance isn’t just a component of what we do, it’s our sole focus. We not only help drive enterprise strategy but also deliver and implement the most appropriate services and solutions. This is very unique in the market and the real value is providing client leadership a way to finally make holistic business-driven decisions instead of tactical product-driven decisions,” said Ferris.
“The Abacode team has made great progress growing its customer base, service offering, and organization during the Company’s short history,” said Ballast Point Ventures’ Sean Barkman, who will join the Abacode Board of Directors. “This is an exciting opportunity for BPV to partner with an impressive management team we have known for a few years now who are building a leading compliance-oriented cybersecurity business in a dynamic industry segment,” Sean also commented.
Abacode is a Managed Security Services Provider (MSSP). The Company addresses client risk from a business strategy first and cyber technologies second (product agnostic) standpoint. This methodology ensures that technical and non-technical leadership teams are able to make unbiased business decisions that positively impact the entire organization. Abacode has become one of the fastest-growing MSSPs by empowering companies to have a Cyber Capability Maturity Model (CCMM) and consolidate all cybersecurity & compliance initiatives under one roof. Abacode has offices in the Americas and Europe. Learn more at https://abacode.com, https://www.linkedin.com/company/abacode-llc or firstname.lastname@example.org.
About Ballast Point Ventures
Ballast Point Ventures, headquartered in Tampa, Florida, is a later-stage venture capital and growth equity fund founded in 2002 to provide expansion capital for rapidly growing, privately-owned companies, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including software, technology-enabled business services, and healthcare. Ballast Point Ventures has $360 million under management across three Funds and seeks to make initial equity investments ranging in size from $4 million to $10 million. For additional information, visit www.ballastpointventures.com.