Category Archives: Technology

Growing Capital In the Corridor

Source:  Florida High Tech Magazine

Home to more than 383,000 millionaire households and 34 people on Forbes’ list of the 400 richest people in America, Florida has ample funding available. While success stories from across The Corridor exhibit how startups like Orlando’s Fattmerchant, Tampa’s Morphogenesis and Gainesville’s Captozyme have tapped into such wealth, the reality is most entrepreneurs struggle in an increasingly competitive environment.

Fundraising has accelerated rapidly in recent years. While funds grow in dollar amounts, the number of funds has remained relatively the same. This dynamic causes investors to write fewer, larger checks, making it more difficult for smaller companies seeking less capital to benefit unless they boast a disruptive or scalable idea. Indeed, MoneyTree’s Q1 report this year ranked Florida among the top five states for largest deals by dollar amount, with $511 million in financing distributed amongst just 20 contracts.

“On one hand, The Corridor region is a much more credible geographic area to invest in than it was 15 years ago and investors from all over the country now consider investing here,” said Randy Scott, partner at Gainesville’s HealthQuest Capital and advisory board member for the Florida Institute for the Commercialization of Public Research. “On the other hand, the businesses starting here tend to be the ones raising smaller amounts of capital, which will make it tougher to raise capital in this era of bigger deals.”

Randy has been an executive, board member, entrepreneur and investor in health care and medical technology companies for more than 30 years. He recommends smaller companies in The Corridor seek funding from “less traditional sources like angel groups or family offices,” which offer assets from wealthy individuals or families with longer investment horizons.

Tampa’s Ballast Point Ventures, the most active venture investor in Florida over the past 10 years, is not an angel group or family office, yet it does assist companies in earlier stages generating around $3 million in revenue. According to Principal Sean Barkman, who works largely with software-as-a-service companies, this segment of the entrepreneurial ecosystem is underserved by larger funds.

“We are pleased that five of our first 10 investments in Ballast Point Ventures III (a $164-million fund raised in early 2015) are based in Florida and three of those companies are based in Central Florida,” said Sean.

Similarly, IDEA Fund Partners is one of the most active seed and early-stage venture investors throughout the Southeast with stakes in three Florida companies, including one in The Corridor. With offices in North Carolina and Orlando, its managers review over 1,000 business plans a year, but typically make only one investment a month. This scenario is not uncommon among firms, said Founding Partner Richard Fox.

All three investors would agree success stems from investing not only in funds, but also in entrepreneurs. For Florida and The Corridor to advance the entrepreneurial ecosystem, assisting early-stage companies in the competitive environment is key. As Randy explained, venture capital money “chases talent more than technology.”

“We need to turn Florida into a destination for high potential and already successful entrepreneurs to move to.  Then, everything will take care of itself in time.”

Several groups across the region, such as NEXUS and Seed Tampa Bay, are aware of the challenges facing early-stage companies and are working to help company founders more easily access funds. Before entrepreneurs utter one word of their business pitch, however, much preparation is required. Investors are more likely to work with founders who possess strong business acumen, leadership capability, industry awareness and a realistic company valuation. They must also be adaptable.

“In all the companies we invested in that were successful, every one of them had to pivot because of outside influences, surprise competitors and deeper opportunities in adjacent areas,” explained Richard. “It’s not all about the brilliant idea; it’s whether the company has thought through every scenario.”

It’s not unusual, added Sean, for investment firms and entrepreneurs to build relationships long before any capital is raised.

“The most rewarding part of our job is developing relationships with entrepreneurs and working alongside them to help grow their businesses,” he said. “The entrepreneurial spirit is truly unique, and we are thrilled to be part of the growing ecosystem here.”

In the world of venture capital, progress begets progress. As early investments in some of The Corridor’s leading technology entrepreneurs are coming to fruition, the region faces immense potential. Crucial to growth is reinvestment by successful entrepreneurs. We need them to serve as angel investors and advisors for the next wave of pioneers. This cycle proves efficacy, enticing even more investors and entrepreneurs to The Corridor, where a favorable business tax climate, modern infrastructure, talented workforce and lifestyle amenities provide refuge from the rising costs and bloated markets of other high tech hubs.

 

Prepaid Technologies Appoints New President, CEO and Executive Chairman

Source:  Prepaid Technologies


BIRMINGHAM, Ala.July 10, 2018 /PRNewswire/ — Prepaid Technologies, a leading provider of payment and rewards solutions announced multiple leadership changes today. Long-time prepaid industry executive Steve Fussell was hired as president and former president Stephen Faust has been promoted to CEO. Company founder and CEO Thomas Mcculley will now serve as executive chairman.

Steve Fussell is an industry leader whose extensive operations and technology experience is essential at a time when we’re investing in and experiencing immense growth,” said Thomas Mcculley. “As Steve concentrates on enhancing our technology offerings to support our entire product suite, Stephen Faust will accelerate his focus on growth, business development and key account management.”

“We’ve driven steady 20-30 percent year-over-year growth for the past five years, pacing well above industry growth estimates of 3-12 percent,” added Faust. “Steve’s expertise will bolster our ability to sustain this growth through the delivery of innovative business payments and reward products.”

Fussell is known for creating best-in-class operations and process solutions. His experience includes management of transaction processing, operations, credit, and prepaid in both startups and large public companies. He has held executive positions at UniRush, FSV Payment Systems, Netspend and Macy’s, among others. Most recently, Fussell consulted investment groups in the evaluation of financial service and technology companies.

“Prepaid is driving more innovation than any other payment platform today and will continue to be the rails for growth in virtual, contactless and peer-to-peer payments among others,” said Fussell. “As a provider of some of the most diverse payment and reward solutions across payroll, expense management and incentives, Prepaid Technologies is uniquely positioned to capitalize on market opportunities and I’m excited to lead the team as we support this growth.”

Since third quarter of 2017, the Prepaid Technologies team has also made several key hires in Birmingham as well as the addition of national payments leaders including Brian Thornsberry, who joined in November 2017 as senior vice president of business development and marketing.

About Prepaid Technologies

A pioneer in financial technology, Prepaid Technologies has been providing innovative electronic payment solutions including payroll, expense, gift, reward and incentive card products to employers, financial institutions, and government agencies for more than 20 years. Learn more at www.in-prepaid.com.

 

Up-and-coming Tampa musicians featured in six new Downtown Tampa playlists on Spotify

Source:  ABC Action News WFTS Tampa Bay

By:  Sean O’Reilly

TAMPA, Fla. — It just became easier to jog down Bayshore Boulevard or do yoga in Curtis Hixon Park while listening to up-and-coming Tampa musicians.

Symphonic Distribution and the Tampa Downtown Partnership worked together to create six new public playlists music on Spotify. Each playlist on the music streaming service offers a different experience for people living, working and playing in Tampa’s downtown neighbor.

“After moving our operations to the downtown area, we quickly realized that there is a great opportunity to connect this vibrant and dynamic area with the music that is being created in it,” said Janette Berrios, Director of Marketing for Symphonic Distribution.

The playlists features music from up-and-coming Tampa musicians, local favorites, indie music from around the globe and people performing in the monthly downtown music series, Rock the Park.

“We hope that listeners discover and experience the diversity, culture and incredible talent that our Tampa Bay area has to offer,” said Berrios.

Rock the Park is among the six playlists created by Symphonic. The others include Study Sessions, Tampa Riverwalk Run, Yoga in the Park, Zumba in the Park, and Pre-Game Party which is a tribute to Tampa Bay Lightning fans.

To view all the playlists, visit Tampa Downtown Partnership’s profile on Spotify at downtowntampamusic.com.

PowerDMS Names David DiGiacomo as Chief Executive Officer

Source:  PowerDMS

ORLANDO, Fla.June 19, 2018 /PRNewswire/ — PowerDMS, a leading provider of cloud-based policy management software, today announced that David DiGiacomo has joined the company as chief executive officer. In this role, DiGiacomo will be responsible for leading the day-to-day operations as well as executing the company’s growth strategy.

 

For over 15 years, DiGiacomo served as the CEO and president of OnSolve (formerly ECN), a global provider of cloud-based critical communication solutions for government, enterprise, and SMB clients. Under DiGiacomo’s leadership, OnSolve grew from two full-time employees to what it is today, the industry’s largest provider of emergency and mass notification services with $100+ million in annual revenue.

“I am excited to welcome Dave as our new CEO,” said PowerDMS founder, board member, and former CEO, Josh Brown. “He has the experience we were looking for, along with a vast understanding of our customer base. His track record of scaling a company of our size to our next growth horizon makes him ideally suited to lead the company through this stage of its incredible journey.”

Founded in 2001, PowerDMS offers a compliance and content management solution that helps organizations reduce risk and liability. The company provides software tools to organize and manage an organization’s critical documents and industry accreditation standards, as well as allow for training and testing of employees. PowerDMS serves customers in public safety, government, and healthcare and has achieved significant organic growth in these markets.

“I’m honored to lead the team at PowerDMS,” said DiGiacomo. “The company has a long history of success and an unmatched reputation for customer satisfaction. My goal is to drive strategy that accelerates business growth and technology innovation without compromising the world-class service PowerDMS provides its clients.”

Michael Ramich, partner of Frontier Capital, the growth equity firm that invested in PowerDMS last year, said that adding a seasoned leader from the public safety and government software-as-a-service space is key to the company’s strategy and future growth. “Dave has the right combination of industry experience and expertise to advance PowerDMS in this next phase of growth.”

About PowerDMS
PowerDMS, headquartered in Orlando, Florida, is a cloud-based policy management software company. The application provides practical tools to organize and manage crucial documents and industry standards, train, and test employees, and uphold proof of compliance, thereby helping organizations reduce risk and liability. PowerDMS simplifies document management through powerful collaboration, process, and automation.

About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. The firm makes minority and majority equity investments in high-growth companies. For more information, please visit www.frontiercapital.com, or follow Frontier on LinkedIn or @TheFrontierTeam on Twitter.

Contact:
Amy Dinsmore
407-992-6058
amy.dinsmore@powerdms.com

 

“Health Ambition” on the diagnosis & effects of sleep apnea

This interesting article in Health Ambition provides an excellent summary of the potentially serious risk factors of sleep apnea, which they estimate affects 26% of adults – 80% of which goes undiagnosed.

The corresponding reduction in sleep quality can lead to common symptoms in the short term such as fatigue and irritability, but over the long term the consequences could include increased risk of many serious conditions such as diabetes, high cholesterol, heart disease and stroke.

If you’d like to learn if you might be part of the undiagnosed population, our portfolio company SleepMed offers a free online preliminary sleep risk test that is quick and easy.  They also offer home- and lab- based sleep diagnostics services as well as outcomes-based sleep disorder treatments and support.

Check out the article at Health Ambition.  One of the many fascinating things we’ve learned since our investment in SleepMed is how critical a good 7 hours/night of sleep is to a whole range of health outcomes.

Honored to have two of our portfolio companies, PowerChord and Symphonic Distribution, mentioned in this list!

The Top 10 Tech Companies To Work For In Tampa

Source:  Full Stack Talent

We’ve been wanting to put together a list of the top 10 tech companies to work for in Tampa for a while now. These are companies we love because they embody the spirit of tech and use tech to power their business, and because the culture is amazing and they really value their teams. This is gonna be a long one, so get a drink before you strap in!

ConnectWise

What they do:
ConnectWise is a community-driven software company dedicated to the success of Technology Solutions Providers. Their suite helps you manage your business, sell more efficiently, automate service delivery, and remotely control technology so you can consistently deliver amazing customer experiences.

Established in 1982, ConnectWise began as a full-service IT solution provider to small- and mid-sized businesses. After discovering a need to better streamline and automate processes in their own business, they built the ConnectWise business management solution to manage all of the core functions of any technology business in one integrated solution.

Today more than 10,000 technology organizations rely on ConnectWise to achieve greater accountability, operational efficiency, and profitability in their businesses.

Why they’re great to work for: 
ConnectWise has consistently been named one of Tampa’s Best Places to Work. They have lots of culture events, and volunteering opportunities.


On the benefits side, they offer:
-Medical, Dental and Vision benefits
-401k plan
-Flexible PTO
-A daily lunch stipend, and stocked kitchens with free snacks
-Foosball table
-Fun events like Star Wars Day, huge Holiday parties, Halloween costume contests, and annual picnics

Want to learn more?
I have 3 friends that currently work or have worked at ConnectWise and all have great things to say about the company and how they’re treated there. So, go ahead and learn more here: https://www.connectwise.com.

Nielsen

What they do: 
Nielsen is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence and mobile measurement. Nielsen has a presence in over 100 countries, with headquarters in New York, USA and Diemen, the Netherlands. Their office in Oldsmar is incredible. See for yourself:

Top 10 Tech Companies To Work For In Tampa - Nielsen

Why they’re great to work for:
-Medical, Dental and Vision benefits
-Life insurance
-Health Savings Account
-401k plan
-Unlimited PTO
-Performance bonuses
-Remote work options
-Free snacks
-Discounts on cell phone plans

Want to learn more?
Head on over to http://www.nielsen.com/ for more info on the company.

KnowBe4

Top 10 Tech Companies To Work For In Tampa - KnowBe4

What they do: 
KnowBe4 is the world’s most popular integrated Security Awareness Training and Simulated Phishing platform with over 17,000 customers. Based on Kevin Mitnick’s 30+ year unique first-hand hacking experience, you now have a platform to better manage the urgent IT security problems of social engineering, spear phishing and ransomware attacks.

With world-class, user-friendly new-school Security Awareness Training, KnowBe4 gives you self-service enrollment, and both pre-and post-training phishing security tests that show you the percentage of end-users that are Phish-prone. KnowBe4’s highly effective, frequent, random Phishing Security Tests provide several remedial options in case an employee falls for a simulated phishing attack.

Why they’re great to work for:
Won 1st place for the 2017 Tampa Best Places To Work – Midsize Business Category. Earnings are uncapped, everybody gets a bonus at the end of the quarter if the company did well, they love promoting from within, and the dress code is quite relaxed. The office is in Clearwater, real close to the beach – the view is insaaaane. Oh, and there’s rooftop cornhole, so…


On the benefits side, they offer:
-100% covered Medical
-Unlimited PTO
-401k plan
-Free snacks
-In-office Yoga on Wednesdays
-Lots of team-building activities, Holiday parties, movies, dinner cruises, howl-o-scream tickets, catered lunches, beach parties, etc.
-Free gym membership

Want to learn more?
Go to https://www.knowbe4.com to find out more about this awesome Clearwater company.

Powerchord

Top 10 Tech Companies To Work For In Tampa - Powerchord

What they do:
PowerChord’s digital platform helps manufacturers grow online engagement and in-store sales through their dealer networks.

Working with leading brands from around the world, they’ve combined years of industry expertise with advanced technology to provide easy-to-use, scalable tools that help your dealers compete against large, online retailers.

They are a team of forward thinkers, happy hour enthusiasts, musicians, and results-driven marketers dedicated to helping consumers find and engage with your brand.

Their office is home to innovative ideas, impromptu jam sessions, and a group of individuals with spirited ‘can do’ attitudes.

Why they’re great to work for:
Good culture with lots of company events, like Rays games, Halloween celebrations, birthday celebrations, shuffleboarding outings, etc.

Top 10 Tech Companies To Work For In Tampa Top 10 Tech Companies To Work For In Tampa

Benefits:
-Medical
-IRA with 3% company match
-14 days PTO your first year, and an additional 2 days every year after
-Free snacks
-Relaxes dress code
-Company events like tech talks and happy hours
-Relaxed management (read: no micromanagement)

Want to learn more?
Go to https://www.powerchord.com to read more about the company culture and what they do.

The HOTH

Top 10 Tech Companies To Work For In Tampa - The HOTH

What they do:
The HOTH is a white-hat SEO leader. They provide SEO services such as guest posts, link building, press releases, local business packages, on-page optimization, keyword research, blog post writing, video, etc – all at affordable prices, and with insane results.

They continue to develop constant upgrades and testing to ensure the best possible results. You can find them at national and international tradeshows like SMX, BrightonSEO, Pubcon, AdTech, Affiliate Summit, and their own HOTHCON!

Why they’re great to work for:
Office dogs, yacht days, conferences, a company kickball team, the list goes on and on. The HOTH seems more like a family than anything else.

Top 10 Tech Companies To Work For In Tampa - The HOTH Top 10 Tech Companies To Work For In Tampa - The HOTH

Benefits:
-75% covered Medical
-Vision
-2 weeks of PTO
-Company-wide bonuses
-Flexible hours, and remote days
-Free lunch on Fridays
-Free snacks
-Dog friendly – yes, you can bring your dog to work
-Wellness plan options: gym membership, yoga studio membership, or monthly massage program
-Awesome office with standing desks, swinging chairs, etc – they actually made Tampa Bay Business Journal’s coolest office spaces
-Cool team-building events and huge holiday parties

Want to learn more?
Go on over to https://www.thehoth.com/ to learn more about The HOTH’s incredible growth history. You’ll need to create an account to access parts of the site, but it’s worth it. If your company needs any SEO services, they actually have some cool free services, and the blog is a fount of free knowledge. Their paid services are quite affordable as well.

Greenway Health

Top 10 Tech Companies To Work For In Tampa - Greenway Health

What they do:
Greenway Health connects providers to the right information and insights, at the right place and time, so they can make patient-driven care a reality while navigating the ever-changing healthcare system. Their mission is to expand possibilities in care. They’re contributing to the success of customers in ways no one else in the industry is. They focus on these 3 areas:

Designing solutions and services that delight
Inspiring practice transformation
Restoring the care in healthcare

Top 10 Tech Companies To Work For In Tampa - Greenway Health

Why they’re great to work for: 
-Great salaries
-Medical, Dental and Vision
-401k plan
-15 days PTO
-Health Savings Account
-On-site gym
-Free snacks
-Flexible hours
-Frequent cultural events, like employee picnics, company lunches, volunteer events, etc
-Wellness programs where participants get discounts on their health insurance
-They also have a cool walking club where employees meet weekly and earn points for walking

Want to learn more?
Go to https://www.greenwayhealth.com – they have a whole sections on their benefits, cultural values, etc., and you can learn so much about the company. They’re doing something great for the healthcare system.

Sourcetoad

Top 10 Tech Companies To Work For In Tampa - Sourcetoad

What they do:
Sourcetoad is a technology consulting and software development firm. Their domain expertise in cruise software has helped their clients launch complex projects around shore excursions, hotel booking, onboard management, and customer-facing web and mobile applications.They specialize in large-scale infrastructure projects with lots of moving parts. Middleware applications controlling large IoT rollouts? They do that. Mobile apps that connect to 12 APIs through a custom control system? Yup. Data collection from 20 distinct government databases to produce water-quality scores for an entire county? You get the pattern.

Why they’re great to work for: 
OFFICE DOGS. Gaming room. Company-sponsored trainings. Opportunities to go on cruises when a new deployment is being done.

Top 10 Tech Companies To Work For In Tampa - SourcetoadTop 10 Tech Companies To Work For In Tampa - Sourcetoad

Benefits:
-Medical, Dental and Vision benefits
-401k plan with company match
-Flexible PTO
-Cool office with gaming systems on site
-Fun events like catered lunches, parties, etc

Want to learn more?
Head over to https://www.sourcetoad.com/ to learn more about this company.

Pikmykid

Top 10 Tech Companies To Work For In Tampa - Pikmykid

What they do:
PikMyKid is the first and only smart dismissal solution and car line management tool for school districts, charter / private schools, after-school programs, YMCA’s, bus transportation, and daycare facilities. It connects schools, teachers, and parents through real-time tools to make dismissals safer and more efficient. Schools subscribe to PikMyKid for a small annual fee. The App is free for teachers and parents to use!

Why they’re great to work for: 
Along with generous salaries, pikmykid offers many benefits, both standard and culture-based.

-50% covered Medical and Dental
-14 days PTO
-Great office space with amenities like:
-Gym corner
-Unlimited snacks
-Fully-automatic espresso and cappuccino machine
-Free onsite parking
-Free gourmet lunch every Friday
-Collaborative work space
-Employee stock options offered after 6 months of employment
-Flexible working hours – make your own schedule

Want to learn more?
Head on over to https://www.pikmykid.com to discover more information about pikmykid.

Symphonic Distribution

Top 10 Tech Companies To Work For In Tampa - Symphonic Distribution

What they do:
Symphonic Distribution is a 100% independent music distribution and marketing company founded by music producer Jorge Brea in 2006. Headquartered in Tampa, FL with offices in major music markets throughout the world, Symphonic provides thousands of new and established record labels, managers and individual artists with global digital music distribution to hundreds of retail and streaming platforms, as well as playlist pitching, release promotion, and a comprehensive suite of label services.

Artists and Record Labels that have had their content distributed through Symphonic Distribution include: Bassnectar, Deadmau5, Waka Flocka Flame, Datsik, The Movement, Tommie Sunshine, Richie Hawtin, Play Me Records, Moody Recordings (Bad Boy Bill), and many more of various genres and music focuses.

Why they’re great to work for: 
The company is currently seeing a great amount of growth, and the culture remains the shining star; the company does cool stuff like Kart racing days, park days, brew bus, etc. So you know how in May, there are 2 super important holidays? May the 4th and Cinco de Mayo? Well, they combined both last year and made it their first annual Margarita Wars day. See picture to the left. The picture to the right is a booze cruise (well, really, it was a pedal boat cruise) they did on Tampa river. Pretty darn cool.

Top 10 Tech Companies To Work For In Tampa - Symphonic Distribution Top 10 Tech Companies To Work For In Tampa - Symphonic Distribution

On the benefits side, they offer:
-50% covered Medical and Dental
-100% covered Vision, Short and Long Term Disability
-PTO accrued on every paycheck, including new employees
-1 week additional PTO during Christmas holiday (does not affect PTO)
-401k plan with 3% match

Want to learn more?
Visit them at http://symphonicdistribution.com.

Gooee

Top 10 Tech Companies To Work For In Tampa - Gooee

What they do:
Gooee is deployed via Lighting-as-a-Host to dynamically capture building activity data.

Gooee’s Data Brain drives software applications for building-occupiers, property owners, and managers around 3 core areas: Lighting Control and Analytics, Beacon Networking + Space and Occupancy Analytics.

Their IoT ecosystem provides wireless lighting control and a full stack data and analytics platform to capture the 4 dimensions of building activity data: people, objects, place and time.

Why they’re great to work for:
HOW COOL IS THIS COMPANY?! Gooee was founded in 2014 and they’ve already seen explosive growth. They invent their solutions, and have grown their portfolio of patents to over 20. We see great things in the future for Gooee, as they’ve made themselves the leader in this niche. The company’s culture is pretty awesome. It’s not unheard of that the entire St. Pete office will leave together to go have lunch. The employees also have creative time where they can work on fun stuff not related to their current projects. Plus, they support awesome causes – they recently worked with Suncoast Developers Guild to help kids learn to code.

Top 10 Tech Companies To Work For In Tampa - Gooee Top 10 Tech Companies To Work For In Tampa - Gooee

Let’s talk benefits:
-Medical, Dental, and Vision benefits
-15 days PTO + separate sick day quota
-401k plan
-Exciting startup, strong cross-team collaboration
-Hack days
-Stock options
-Flexible working environment; remote working, flexible hours
-Open to experimenting with new technology and concepts
-Regular team-building and socializing
-Dev expo attendance budget

Also, look at their office. The space is absolutely gorgeous.

Top 10 Tech Companies To Work For In Tampa - Gooee

Want to learn more?
Go to their website to find out more about the coolest niche everhttps://gooee.com.

Symphonic Distribution Makes Senior Hires in New York and Los Angeles

Source / by:  MusicBusiness Worldwide

Independent distributor Symphonic Distribution has hired former Orchard exec Nick Gordon and Jaime Feldman, who previously worked at Universal Music, in the US.

Gordon joins the company as Chief Client Officer & GM in New York.

He was previously VP, Client Services at The Orchard, and was pivotal to the company’s client and technology growth that led to its acquisition by Sony Music.

Prior to that, Gordon was a Distributed Labels Manager at Caroline Distribution, where he focused on hip-hop and electronic music clients.

In his new role, he is tasked with defining Symphonic’s core client strategy and expanding the company’s footprint in New York.  

As Content Development Specialist, Feldman is Symphonic’s first hire in Los Angeles.

He was previously Senior Director, A&R at Universal Music and Director, A&R at Capitol Music.

In his new role, Feldman is tasked with growing Symphonic’s client roster in Los Angeles and drawing from his experience to shape its future A&R strategy.

Jorge Brea, CEO of Symphonic Distribution, said: “I am thrilled to have Nick as a part of Symphonic.

“NICK BRINGS A TREMENDOUS AMOUNT OF EXPERIENCE, ENERGY AND CREATIVITY TO THE ORGANIZATION AND HAVING JAIME AS A PART OF SYMPHONIC WILL HELP [US] REACH NEW HEIGHTS.”

JORGE BREA, SYMPHONIC DISTRIBUTION

“He brings a tremendous amount of experience, energy and creativity to the organization and will help make the New York region a major and important part of the company’s future.

“Alongside Nick, having Jaime as a part of Symphonic will help the organization reach new heights and connect us to a new and exciting client base.

“Jaime’s experience and track record speaks for itself and we’re excited to see what he will contribute to us.”

Gordon said: “I’m delighted to be joining Symphonic at this exciting moment in their trajectory.

“Jorge and his team have built an amazing foundation, and I’m excited to help them build a growth strategy that aligns with the current needs of the independent artist and music community.”

Feldman added: “I’m tremendously excited to come on board at Symphonic at a key time for them and help add to the growth and prosperity they have seen over the past several years.

“At a time in the music business when artists and independent labels have thrived the most outside of the major label system, Symphonic is a great company for those that wish to keep their autonomy yet have a stellar team behind them to support in every way possible.”

Behind the deal: Two Orlando biz owners share thoughts on being acquired and landing equity

SOURCE:  Orlando Business Journal 

By Matthew Richardson  – Staff writer, Orlando Business Journal

Orlando Business Journal zeroed in on two M&A deals in Central Florida, talking to the top local executives to get insights on what led to the decision to sell their companies — or a majority stake in it — and more:

Josh Brown, founder and CEO, PowerDMS

What led to the decision to form a partnership with Frontier Capital? We were about three years into our investment with Ballast Point Ventures and we saw a lot of growth through that investment. We were aware of the market opportunity for software and services companies. We serve a very niche customer base, like law enforcement. The knowledge of the growth and being well-connected to the opportunity that was in front of us in terms of the market as it was scaling helped us know it was the right time.

Full text here

Ballast Point Ventures Announces Majority Recapitalization of PowerDMS

Ballast Point Ventures III, LP (“BPV”) is pleased to announce that Frontier Capital has led a majority recapitalization of its portfolio company PowerDMS, an Orlando-based policy management software company. BPV invested in PowerDMS in 2014 to help the Company grow its sales and marketing team and further enhance its technology platform by offering new features to its customer base.

Founded in 2001 by Chief Executive Officer Josh Brown, PowerDMS offers a software as a service, cloud-based compliance and content management solution that helps organizations reduce risk and liability. The Company provides software tools to organize and manage all of a company’s critical documents and respective industry accreditation standards, as well as allow for training and testing of employees. PowerDMS serves customers in law enforcement, public safety, and healthcare and has achieved significant organic growth in these markets during BPV’s investment period.

Robert Faber, a Partner with BPV, will continue to serve on PowerDMS’s board of directors subsequent to the majority recapitalization. He remarked, “We are very pleased to have partnered with Josh Brown and his team as they have built a successful software company in Florida. We are proud of the growth that PowerDMS has shown during our investment period and want to thank Josh and his team for their excellent work since we invested. We think that PowerDMS has found a great partner in Frontier Capital to help the Company reach its goal of being the market leader in crucial content management, and we are excited about remaining shareholders for the next leg of the journey.”

“Ballast Point Ventures has been a great partner throughout our relationship. Their expertise and thoughtful leadership helped us mature without compromising our culture or customer satisfaction,” said Josh Brown, Founder and CEO of PowerDMS. “The team at BPV was immensely helpful in bringing its strong Florida network to bear as we scaled our operations, and we added numerous key team members as a result of BPV’s introductions. Now, with Frontier Capital as a partner, we are enthusiastic to expand this growth and continue to provide our customers with a world-class product.”

About PowerDMS
PowerDMS, headquartered in Orlando, Florida, is a cloud-based policy management software company. The platform provides practical tools to organize and manage crucial documents and industry standards, train, and test employees, and uphold proof of compliance, thereby helping organizations reduce risk and liability. PowerDMS simplifies document management through powerful collaboration, process, and automation. For more information on PowerDMS, please visit https://www.powerdms.com/

About BPV
Ballast Point Ventures, headquartered in Tampa, Florida, is a later stage venture capital and growth equity firm founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in 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 health care, software, technology-enabled business services, communications, and consumer. BPV has $360 million under management and seeks to make initial equity investments ranging in size from $4 million to $10 million. For more information on Ballast Point Ventures, please visit http://ballastpointventures.com/

Fast-growing Tampa digital firm snares $4 million local venture investment

Ballast Point Ventures has invested in Symphonic Distribution Inc.

The $4 million is the first outside capital invested in Symphonic, based in Tampa and one of the largest independent music companies in the industry.

Symphonic, which partners with Apple Music, Spotify, Amazon, Pandora and others, provides new and established record labels and individual musicians with digital music distribution tools that allow content creators to quickly and cost effectively distribute their music to major music consumption platforms.

Full Article: Tampa Bay Business Journal

© 2018 Ballast Point Ventures. All rights reserved.