Canaan Partners and Genacast Ventures Invest in Next Gen Travel Management Firm to Accelerate Software and Product Development
NEW YORK, Feb. 10, 2014 (GLOBE NEWSWIRE) -- Rocketrip, the first commercially available platform to save companies money on travel expenses by rewarding employee cost-saving behavior, today announced that it has closed its first institutional round of funding. Canaan Partners led the $2.6 million Series A financing with participation from Genacast Ventures and others investors. Rocketrip has received previous funding from Genacast Ventures, Y Combinator, and angel investors.
"Legacy corporate travel systems that are designed to streamline the travel process and enforce policy, in fact create friction with employees and drive non-compliance in today's $160 billion-a-year US business travel industry. As a result, travelers often 'go rogue' as the industry calls it, and book travel outside of those systems," says Dan Ruch, Founder & CEO of Rocketrip. "Rocketrip is optimized for employees that are allowed to book travel using their website or vendor of choice, motivating cost sensitivity by rewarding employees with a percentage of the savings they generate. However, for companies with a more complex travel program and a mandated booking channel, Rocketrip can function in parallel with existing systems by motivating similar cost saving behavior."
In just three months of early pilot testing, seven Rocketrip customers saved nearly $20,000 across 100 trips. This represents a higher-than-expected 25% reduction in travel spend.
"We are pleased to have Canaan Partners and Genacast Ventures invest in our vision to reform a very broken corporate travel management process," adds Mr. Ruch. The new funds will be used to accelerate software and product development and to build out sales and client services."
"Forward-looking companies are recognizing that they can enlist their employees to help reduce spending on travel while increasing employee satisfaction on these trips. This change is happening especially fast in the mid-market," says Warren Lee, General Partner, Canaan Partners. "Rocketrip is well-positioned to take advantage of these changing corporate travel market dynamics."
"Existing travel management interfaces are obsolete; they are bulky, antiquated, take time to learn, and have increasingly diminishing value. By contrast, online travel agencies and other online booking websites provide ease of use, high availability, and lots of choice," says Gil Beyda, Founder and Managing Partner of Genacast Ventures. "I believe the corporate travel management space is starving for the kind of innovation that Rocketrip provides."
"With Rocketrip's incentive platform, companies can promote desirable cost-saving behaviors, such as advanced purchase of flights. Everyone benefits from using Rocketrip: companies cut their travel costs and get best-in-class reporting on travel spend and behavior, and employees earn rewards for booking cost-effective trips," says Gillian Tee, Rocketrip Co-Founder and Head of Product and Technology.
Rocketrip (http://www.rocketrip.com) is the first commercially available travel management platform to save companies money on travel expenses by motivating employees to become willing and enthusiastic partners in cost savings. Rocketrip's algorithms integrate a company's travel policy with real-time trip pricing and availability to create a personalized Smart Budget for each trip. Employees are set free to book using their favorite travel websites. The company rewards employees for booking under budget by sharing a percentage of the savings in the form of cash and gift cards. Rocketrip, based in New York City, provides employers with insights and analytics on company spending, savings and employee travel behavior, giving them the ability to optimize their travel policy and rewards program.
Google Ventures joins existing investors including Union Square Ventures and Genacast Ventures in new financing round
(New York, NY) December 5, 2013 -- YieldMo, a technology company rethinking mobile advertising for publishers and marketers, today announced its Series B financing round led by Google Ventures. YieldMo raised $8 million in its latest round, with full participation from existing institutional investors including Union Square, Genacast, Rhodium, Dace Ventures and ff Venture Capital. The company has raised $12.1 million to date.
Using YieldMo’s technology, marketers can purchase high quality ad placements in consumer-friendly formats on mobile pages and apps of premium publishers. The ad placements typically appear on 100% of the publisher’s mobile inventory and allow for an incomparable level of testing and optimization using machine learning and predictive analysis. YieldMo has consistently delivered best-in-class metrics for publishers and marketers, and will use the new funding to continue building unparalleled technology infrastructure and adding more premium publishers and advertisers to its platform.
Michael Yavonditte, CEO of YieldMo commented, “Premium publishers need a flexible way to monetize the massive shift in traffic from desktops to mobile devices. Publisher business models are threatened if they cannot find a way to replace the revenue. Marketers need a platform with formats and transparency that allows for proper testing and optimization over time and that provides a reliable ROI. Consumers visiting premium publishers on their personal mobile devices want to see ads they can read without being interrupted. We created YieldMo to solve these problems for each of these constituencies in a balanced way.”
“In mobile, one of the big challenges is developing compelling ad formats that work on small screens, and YieldMo has created a format that is incredibly appealing,” said Rich Miner, General Partner, Google Ventures. “I was impressed that YieldMo’s adaptive ad format and platform were performing so well that publishers were opening up premium inventory.”
YieldMo was founded in 2012 by Michael Yavonditte, Teddy Jawde, Todd Coleman and Rick Eaton. The founding team previously built Quigo Technologies, a Web advertising company that was acquired by AOL in 2007. YieldMo’s system addresses prevalent issues of privacy and effective targeting with mobile in mind. YieldMo is distinct in that it deals only with premium publishers, does not require user tracking or targeting and enables both publishers and marketers to showcase and optimize their brands in order to yield their due share.
YieldMo is rethinking mobile advertising to optimize yield for publishers, ROI for marketers and the experience for consumers. YieldMo’s Premium Private Platform for Mobile enables marketers to purchase high quality non-banner ad inventory in consumer-friendly ad formats on the mobile pages and apps of premium publishers. YieldMo was founded in 2012 by Michael Yavonditte, Teddy Jawde, Todd Coleman and Rick Eaton. The founding team previously built Quigo Technologies (acquired by AOL in 2007). The company has received funding from top-tier investors including Google Ventures, Union Square Ventures, Genacast, Rhodium and Dace Ventures. YieldMo is headquartered in New York, NY. To learn more please visit yieldmo.com.
Funding will fuel growth and enable Divide to invest in partnerships
NEW YORK, Oct. 8, 2013 /PRNewswire/ -- Enterproid, developers of Divide™, the secure mobile platform, announced today it has secured $12 million in Series B funding led by Google Ventures and will now conduct business under the Divide name. The latest investment -- which includes participation from existing investors Comcast Ventures and Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, as well as new investors Globespan Capital Partners and Harmony Partners -- brings Divide's total funding to $25 million.
Divide, which was founded in 2010 to provide an innovative no-compromise BYOD solution, will use the investment to accelerate its growth and capitalize on key partnerships with companies such as IBM, Vodafone, Verizon and Tangoe. Since its launch, Divide has been downloaded more than 200,000 times by consumers and professionals through the Apple App Store and Google Play. The Divide platform is seeing even faster growth among corporate clients, with a more than 10 fold increase in paid licenses so far this year. Divide sells to hundreds of customers including some of the world's largest financial, healthcare and technology companies as well as federal agencies and small and medium-sized businesses.
"Divide provides a simple, secure and standardized solution for BYOD that is unique in its ability to win over both IT decision makers and employees," said Divide CEO Andrew Toy. "We're taking this opportunity to embrace the Divide name, which best embodies the work we do in securing business data on employee-owned devices. Our mission has resonated with hundreds of enterprises looking for a better mobility solution for solving BYOD."
Divide, available on iOS and Android as a free app or with an enterprise subscription, offers an encrypted workspace container on employee devices that keeps business data and apps separate and secure from the personal side of the device. Corporate customers can manage Divide through the cloud-based Divide Manager console or through select mobile device management (MDM) partners. Divide also offers the industry's first customized container, allowing businesses to extend their brand to mobile devices.
"With the changes in the mobile landscape, enterprises are looking for a way to transform today's smartphone into an enterprise-ready mobile device," said Rich Miner, General Partner at Google Ventures. "Divide delivers a fully functional smartphone experience, while adding all the security, policy enforcement, manageability and core apps you'd expect from a best-in-class enterprise mobile platform."
Divide delivers easy, secure enterprise mobility, enabling organizations and individuals to get the most out of mobile technology and corporate BYOD policies. Divide offers a secure container solution that includes cloud-based management with advanced on-device technology for enterprise security and control without compromising personal freedom and privacy. Founded by former mobile executives and engineers from Morgan Stanley, Divide is headquartered in New York, with offices in London and Hong Kong. Divide investors include Google Ventures, Comcast Ventures, and Qualcomm Ventures. Learn more by visiting our website, or by following @divide on Twitter. Divide can be downloaded for free from Google Play and the Apple App Store.
Philadelphia, PA (PRWEB) August 13, 2013
LeadiD, the first neutral, privacy-friendly, trusted arbiter of lead transactions, today announced that it has raised an additional $1 million in capital from Philadelphia-based Genacast Ventures, lead investor in LeadiD’s initial $1.7 million seed-stage investment. The investment supports the company’s growth trajectory and is a strong validation of both its business model and the growing adoption of the LeadiD authentication standard in multi-billion consumer verticals such as education, mortgage, insurance and short-term loans. LeadiD will use the new funds to expand its team, accelerate product innovation and continue to drive market adoption.
“LeadiD’s significant achievements and momentum over the last year are clear indications that we are building a breakout business and defining a new market,” said Ross Shanken, LeadiD CEO. “LeadiD is becoming the de facto standard for bringing both lead buyers and sellers together because our technology platform empowers a neutral and trusted transaction. This investment will enable us to sustain our outstanding momentum with new talent, expanded footprint and aggressive technology innovation and product enhancements.”
“Ross and his team have built a market-transforming company with a disruptive technology that is solving the lead gen industry’s biggest challenges,” said Gil Beyda, Founder and Managing Partner of Genacast Ventures. “Our support enables LeadiD to rapidly expand its reach and underscores our commitment to continue to support breakthrough technology.”
This new development builds on company’s early success in forming strategic partnerships with industry leaders to facilitate seamless adoption by lead buyers. Earlier this year, the company launched LeadiD Marketplace, a single source for best-in-class marketing solutions that support the LeadiD standard. Solutions in LeadiD Marketplace are fully integrated with LeadiD, and are offered ‘on-demand’ for rapid implementation, enhanced results and increased ROI.
A few short weeks ago, the company also reached another major milestone with the unveiling of the LeadiD TCPA Compliance app. The app provides organizations a way to obtain and demonstrate definitive confirmation that the proper TCPA (Telephone Consumer Protection Act) disclosures were present during the lead event and that the consumer did in fact provide express consent. The LeadiD TCPA app is the first truly scalable TCPA app because it doesn’t require disruption of dialer operations with manual screen shot review, thereby preserving an organization’s speed-to-contact advantages. LeadiD also commissioned a white paper and checklist addressing TCPA concerns in the online media sector.
The firm has also been recognized by industry peers for significant achievement and was named winner of the coveted Most Innovative Company award in the 2013 LeadsCouncil LEADER Awards program.
Founded in January 2011 by Ross Shanken, LeadiD is the only independent, neutral, open technology platform, which tracks the origin and history of every lead event that utilizes the LeadiD system. No supplier-proprietary data is exposed, but rather, LeadiD allows Lead Sellers and Lead Buyers to make real-time decisions based upon definitive origin and history flags that are predetermined. LeadiD fosters an environment of trust in the transaction, one where both Lead Sellers and Lead Buyers alike derive top-line value. With unmatched data, LeadiD is the industry standard for authenticating lead origin and history and the authentication platform of choice for firms of all sizes. For more information, visit LeadiD.com. @LeadiD
About Genacast Ventures
Genacast Ventures (http://www.genacast.com) invests in Internet technology entrepreneurs with a vision and passion for forging new markets or disrupting old ones. Established in 2008 as a partnership between serial entrepreneur Gil Beyda (Real Media and Tacoda) and Comcast Ventures, Genacast’s commitment to helping exceptional entrepreneurs build great companies is already experiencing success with its first investment Invite Media being acquired by Google and its second investment Demdex being acquired by Adobe. Current portfolio companies include DoubleVerify (online advertising), PackLate (travel), Enterproid (mobile), Mortar Data (big data), LeadiD (lead generation), YieldMo (mobile advertising), Rocketrip (corporate travel) and Riskive (security). Genacast invests up to $1M in 3-4 seed-stage start-ups each year.
BALTIMORE, MD—July 23, 2013—Riskive, the Social Risk Management company, today announced it has secured $2.2 million in seed funding from Genacast Ventures (a fund formed in partnership with Comcast Ventures), Core Capital and a world-class group of individual investors. Riskive protects government and enterprise organizations from the next generation of security threats: Social Cyber Threats.
Angel investors participating in the round include Frank Bonsal (Founder of NEA) and serial entrepreneurs Greg Cangliosi, Bill Boyle and Andrew Eye, amongst others.
Social Risk Management is emerging as the next great security challenge for organizations which are being continually breached by a myriad of experienced attackers and hackers. Riskive’s cloud-based technology platform is currently deployed in beta and leverages predictive analytics to protect against advanced cyber threats in multiple government and enterprise organizations.
“Social network technology and social media has proliferated into every aspect of business as well as our personal lives,” said James C. Foster, CEO and Founder of Riskive. “Deploying a security solution based on predictive analytics to prevent attacks before they happen is the new standard for security. It’s critical for organizations to understand the potential for malicious threats to invade into the core of a business via social streams. This type of invasion puts every aspect of a business at risk and has the capacity to entirely shut down an organization. With Riskive, organizations now have a constant ally to alert them in advance of these attacks.”
Riskive has assembled a proven team of over 12 security experts. This quickly growing team is continuing to enhance Riskive’s proprietary cloud-based technology platform that is dedicated to identifying, monitoring and preventing risk across the socially connected enterprise. Riskive’s security technology allows for real-time protection of users, applications and social brand assets.
“Riskive brings a first-mover advantage to the market because it identifies social-based threats before they have the opportunity to inflict serious damage,” said Gil Beyda, Founder and Managing Partner at Genacast Ventures. “Foster and Evan have worked together before and they have a proven track record. As enterprises embrace social media more and more, business entities are actively being targeted for their intellectual property. Riskive’s ability to protect against current threats – as well as its advanced threat detection capabilities against future attacks – is a very compelling value proposition for us and will be critical for this emerging market.”
“The ‘social enterprise’ era has arrived,” said Mark Levine, Managing Director, Core Capital. “Facebook, Twitter and LinkedIn are just a few of the great social tools that have emerged as a new vector leveraged by cyber criminals. Riskive was an attractive investment opportunity because of the technology, the team and tremendous advisory board its assembled to fight against this emergence of social threats against not only consumers, but business and government entities.”
Mission to Research & Develop Innovative Defense Technologies
“Our mission is to research and create innovative defense technologies aimed at protecting businesses and platforms throughout all social media platforms and channels,” said Evan Blair, Chief Operating Officer and Co-Founder of Riskive. “To prevent the next generation of cyber threats, we are determined to empower organizations with the ability to react before cyber attackers ever launch an attack.”
Riskive was selected as the winner of the 2013 Mid-Atlantic Venture Association Capital Connection TechBuzz show in Washington D.C., besting over 300 other early-stage companies. Additionally, Riskive was also named the ‘Incubator Company of the Year’ for the state of Maryland in June 2013.
LeadiD closes $1.7 million in funding to accelerate the company’s growth within the lead generation space.
LeadiD (leadid.com), developer of a groundbreaking lead certification technology platform, today announced that it has closed $1.7 million in funding to accelerate the company’s growth and success in the lead generation marketplace. The investment was led by Genacast Ventures, a seed-stage investor, based in Philadelphia, PA. LeadiD will use the funds to hire additional business development and engineering resources, produce unique marketing campaigns, accelerate innovative application development and drive market adoption.
In conjunction with this investment, LeadiD has recently added several industry veterans to drive LeadiD’s growth. John Trionfo, LeadiD’s most recent hire from TARGUSinfo, is the company’s new Senior Vice President; Rob Rokoff, previously of Leads360 and TARGUSinfo, is the Vice President of Business Development; Natalie Stopko, previously of LendingTree, LLC., has come on board as Director of Marketing; Lauren Jacobson, previously of Ampush Media, Inc., will come on board in early August as Director of Client Services. In the coming weeks, LeadiD will add executives from additional firms within the Lead Generation space.
“We feel great about LeadiD’s accomplishments in the Lead Generation space thus far, and Genacast Venture’s investment is a big vote of confidence in our company, our team and in the LeadiD platform. We are passionate about what we are doing here at LeadiD, and Gil Beyda [Genacast Founder] shares that passion,” said LeadiD Founder and CEO, Ross Shanken. “We look forward to this partnership, accelerating LeadiD’s already rapid industry adoption.”
“We were very excited to invest in LeadiD. We see hundreds of businesses each year and LeadiD was a standout with a game-changing idea in lead generation. Plus they have a team with deep domain experience and an ability to deliver this valuable service,” said Gil Beyda, Founder and Managing Partner of Genacast Ventures.
LeadiD has over 160 companies utilizing the platform, which currently issues over 15,000,000 unique LeadiDs per month across the Education, Insurance, Legal and Automotive verticals. “LeadiD market adoption validates that many firms in our industry do want lead gen to mature; and LeadiD does a better job bringing both sides together because our technology platform empowers a neutral and trusted transaction. We are excited that Gil recognizes the potential of our technology and our team and I am thrilled to have Genacast join the LeadiD family,” explains Shanken.
NEW YORK, Oct 06, 2011 (BUSINESS WIRE) -- Enterproid, maker of the Divide(TM) Platform for enterprise mobility, today announced it has closed $11 million in Series A funding to accelerate the company's growth and customer success. The investment was led by Comcast Ventures with participation from Google Ventures and Qualcomm, acting through its venture investment arm, Qualcomm Ventures. Enterproid will use the funds to extend engineering capabilities, expand distribution and launch a series of global partnerships.
"This additional funding is a great vote of confidence in our company, our team and most importantly in the Divide(TM) Platform, which fundamentally changes the way mobile professionals use their smartphones in the workplace," said Andrew Toy, CEO of Enterproid. "Enterproid solves the compelling challenge of allowing individuals who use their personal device at work to create a secure, IT-friendly business profile without compromising the individual's privacy or choice of device."
As the BYOD (Bring Your Own Device) trend continues to accelerate globally, the Divide(TM) Platform helps companies accommodate and support employee-owned devices within the corporate IT environment and gives employees a dual persona on their device that delivers secure access to business productivity applications, without compromising personal privacy. Currently in beta and soon available for download on the Android Market, Divide(TM) delivers multiple profile support, productivity apps and a fully managed and secure environment.
Divide(TM) gives employees access to a full set of remote management capabilities without requiring the installation of any desktop or server software or any support from corporate IT. Lost devices can be remotely located and wiped with corporate data being erased on the entire handheld.
For IT administrators, Divide(TM) is a critical new tool that includes a fleet-management console for supporting enterprise-wide policy deployment and enforcement including the ability to see all connected devices, set policies by group, perform remote wipes of corporate data, lock corporate profiles and administer password resets. Additionally, Divide(TM) has built-in expense management tools to help identify roaming devices and display network operator usage data.
"Employees bringing their own devices to work is a growing phenomenon, and Enterproid has found a solution for the challenge it creates for businesses' privacy and security," said Dave Zilberman, Principal at Comcast Ventures. "We think Enterproid provides meaningful customer value, has the potential to disrupt an industry and, most importantly, changes the way people live, work and interact. Our infusion of new financing, alongside impressive investors, enables Enterproid to accelerate its growth plans."
About Enterproid, Inc.
Enterproid helps organizations and individuals get the most out of mobile technology. The company's flagship Divide(TM) Platform combines cloud-based management with device-level technology that ensures enterprise security and control without compromising personal freedom and privacy. Founded by former mobile executives and engineers from Morgan Stanley, Enterproid is headquartered in New York, with offices in London and Hong Kong. Enterproid's seed round investors included Genacast Ventures, High Peaks Venture Partners, and NYC Seed. The company was the Grand Prize winner of Qualcomm's QPrize at the 2011 Demo Spring conference. Learn more at www.enterproid.com , @dividemobile.
About Comcast Ventures
Comcast Ventures is the venture capital affiliate of Comcast Corporation. It consists of the recently combined Comcast Interactive Capital and NBC Universal Peacock Equity Fund and has a portfolio valued at $750 million under management. Comcast Ventures invests in innovative businesses that represent the next generation of entertainment, communications and digital technology by partnering with entrepreneurs who have the vision, passion and tenacity to succeed. Its primary goal is to generate superior financial returns through the success of its portfolio companies by applying the unique resources, contacts, experience, and insight of Comcast's family of companies.
About Google Ventures
Google Ventures is the venture capital arm of Google Inc. We seek to discover and help develop great companies, and believe in the power of entrepreneurs to do amazing things. Our investments range from seed to late stage, across a broad range of industries, including consumer Internet, digital media, software, hardware, and biotechnology. We embrace the challenge of helping young companies grow from the proverbial garage to global relevance. For more information, visit www.googleventures.com .
About Qualcomm Ventures
Qualcomm Ventures, the venture investment group of Qualcomm Incorporated, was launched in the United States in November 2000 with an initial US$500 million allocation. Qualcomm Ventures' aim is to support Qualcomm's mission of enabling and fostering 3G and wireless Internet markets through investments in privately owned startup ventures. These investments include companies focusing on wireless communication technologies and products serving consumer, enterprise and vertical markets worldwide. For more information, please visit www.qualcomm.com/ventures .
SOURCE: Enterproid, Inc.
August 30, 2011
Series C Funding Round Entrenches DoubleVerify as the Global Standard for Online Media Verification and Compliance
New York (August 30, 2011) – DoubleVerify (www.doubleverify.com), the pioneer and worldwide leader in online media verification and compliance, today announced that it received $33 million in financing led by JMI Equity and Institutional Venture Partners (IVP), two of the premier later stage venture capital and private equity firms in the United States focused on investing in rapidly-growing software, Internet and business services companies. Other participants in the round included previous investors Blumberg Capital and First Round Capital. In conjunction with the financing, Bob Nye of JMI Equity and Dennis Phelps of Institutional Venture Partners have joined the company’s board of directors. This investment brings the company’s cumulative financing to $47 million.
Since the company’s launch in 2008, DoubleVerify has developed the standard for online media verification for advertisers, agencies, ad networks, DSPs, exchanges and publishers. Using its proprietary, patent-pending technology, DoubleVerify has driven accountability and transparency for the online advertising ecosystem by tracking actual delivery of campaigns to verify that they are in compliance with the advertisers’ insertion order terms, conditions and buying guidelines. DoubleVerify is utilized by more than 200 of the leading Fortune 500 marketers, all six of the major agency holding companies, and is accepted and integrated with all major publishers and sell-side platforms.
Adobe Acquires Demdex. Here is the press release...
Posted Jan 18, 2011
The Adobe Online Marketing Suite, powered by Omniture, together with the Demdex data management platform, delivers an industry leading audience optimization solution for publishers and advertisers
SAN JOSE, Calif. — Jan. 18, 2011 — Adobe Systems Incorporated (Nasdaq:ADBE) today announced it has acquired privately held Demdex, a leading data management platform company. The global online advertising spend is a large and growing market and is projected to reach $109 billion in 2013* as online advertising becomes an increasingly strategic part of the marketing mix. Online audience optimization is a critical factor for advertisers and publishers to maximize their online ad investment. The addition of Demdex to the Adobe Online Marketing Suite, powered by Omniture®, delivers an audience optimization solution that will enable advertisers and publishers to consistently deliver more relevant digital experiences to their customers.
Google announces the acquisition of Invite Media. Read the Google blog entry...
Thursday, June 3, 2010 | 11:05 AM
We’re happy to announce that we’ve acquired Invite Media, an innovative start-up based in New York and Philadelphia.
The team at Invite Media has developed technology that enables advertisers and agencies to use “real time bidding” to buy display ad space, and to optimize display ad campaigns, across multiple advertising exchanges, all in a single interface.