Drexel and Science Center to Create Innovation Hub at 3401 Market St.
DreamIt to Open World Headquarters at the Hub and Drexel to Invest in DreamIt Fund
PHILADELPHIA (December 11, 2013) – Drexel University, the University City Science Center and DreamIt Ventures are on a mission to support innovators and entrepreneurs in the Philadelphia region and have formed a strategic partnership that creates a hub for start-ups to test their wings and the capital that will support their continued growth.
Drexel – Science Center Collaboration
Drexel and the Science Center have collaborated to form a 17,500-square-foot innovation hub that will serve as a launching pad for companies by offering business incubation and accelerator spaces and services to support idea generation, innovation and growth as well as support for later-stage companies.
The innovation hub, which will officially open in April 2014 on the second and third floors of the Science Center building at 3401 Market Street, will include a suite of flexible workspaces designed to foster collaboration throughout the entrepreneurial ecosystem. It will also house the world headquarters for DreamIt Ventures, a global business accelerator that is well-versed in helping start-ups take flight.
“This partnership not only supports Drexel’s and the Science Center’s shared vision for University City, it’s a major step forward in accomplishing Drexel’s goal of creating an innovation nexus on our campus,” said Drexel President John A. Fry. “It also marks an important step in creating a path to success for burgeoning entrepreneurs to follow.”
The goal of Drexel and the Science Center’s collaboration is to support emerging technologies. It builds on Drexel’s strategic plan and the mission of Drexel’s Expressive and Creative Interaction Technologies (ExCITe) Center; and the Science Center’s long and successful tradition of supporting startups and convening communities around innovation and entrepreneurship through programs such as its Port business incubator and Quorum, the entrepreneurs’ clubhouse. The ExCITe Center, which opened on the first floor of the 3401 Market Street. building last fall, has already become a hub for Philadelphia’s technological innovation community. Just up the street, at 3711 Market Street, the Port has been developing successful models of business incubation since 2001, which will now be extended to the 3401 innovation hub.
“The Science Center and Drexel University share an innate strength and experience in emerging technologies,” said Dr. Stephen S. Tang, president and CEO of the Science Center. “This partnership leverages that strength to create an environment where tech entrepreneurs can connect, collaborate and thrive – ultimately strengthening Philadelphia’s role as a supportive environment for tech startups. And we are pleased to be able to strengthen our long-term relationship with our friends at DreamIt, by offering them a permanent home on our campus.”
“We are putting another stake in the ground to create our Innovation Neighborhood and illustrate how committed we are to supporting entrepreneurs in the Philadelphia region,” said Drexel’s Senior Vice President for Corporate Relations and Economic Development Keith Orris. “We want to support start-up companies, help them grow and keep them here in Philadelphia.”
Tying things together further is the presence of DreamIt Ventures and its track record of successfully launching start-up companies. The DreamIt team works hands-on with entrepreneurs from around the country and the world to rapidly validate, de-risk or disprove the assumptions underlying their businesses. DreamIt helps entrepreneurs achieve in three months what typically takes companies 12-to-24 months to achieve on their own. DreamIt operates accelerators in Austin, Baltimore, New York City, Philadelphia and Tel Aviv. While the group has launched more than 125 start-ups since 2008 -74 in Philadelphia alone- locating DreamIt’s headquarters in the Innovation Neighborhood will give DreamIt’s portfolio companies an even better chance of succeeding.
“DreamIt’s choice of Philadelphia for its global headquarters is yet another sign that Philadelphia is committed to becoming a more welcoming and supportive city for startups and entrepreneurs,” said Mayor Michael A. Nutter. “The City and PIDC through Startup PHL are proud to play our role, in partnership with great institutions such as Drexel University and the Science Center, in providing the capital and business growth opportunities that will lead more start-ups to stay in Philadelphia.”
As a way to further solidify this partnership and foster innovation, the Science Center and Drexel are investing in DreamIt’s $30 million fund to support these promising ideas and thinkers. Drexel’s $3 million investment in DreamIt Fund II recognizes the benefits of the Fund investing small amounts of money in a large number of startups for large ownership positions relative to the money invested. The investment further enables the Fund to participate in the follow-on funding rounds of those companies participating in DreamIt’s accelerator programs.
“DreamIt Fund II and our new headquarters in Philadelphia further position the region as a technology startup hub,” said David Bookspan, founder of DreamIt Ventures. “This exciting partnership between three world-class organizations is an important step in bringing additional capital to Philadelphia to support our growing startup community. DreamIt now offers companies more capital than any other major accelerator.”
DreamIt will host its semi-annual Philadelphia-based accelerator programs at the 3401 Market St. location and will give participating companies the option to work in the adjoining office space after graduating from the boot camp.
The innovation hub will also be open to entrepreneurs throughout the region. For more information about the Drexel – University City Science Center partnership visit: http://drexel.edu/corporaterelations/drexel-ventures/overview/. To find out how to get involved with DreamIt visit: http://www.dreamitventures.com/
About DreamIt Ventures:
DreamIt Ventures is a seed stage accelerator and start-up fund, with the goal of helping exceptional teams build exceptional companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas; a uniquely assigned, seasoned entrepreneur as a mentor; pre-seed funding; top tier accounting and legal services, a rigorous and creative working environment, and access to capital. DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since kicking off in Philadelphia with their traditional accelerator program, DreamIt has expanded to Austin, Baltimore, New York, and Israel; built a thriving healthtech accelerator program, been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 127 companies with an enterprise value greater than $385, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, ElectNext, SnipSnap, Charlie, Cloudamize, Vantageous, Winston, PeerActive, and TrendKite. DreamIt alumni have collectively gone on to raise more than $100M in follow on funding. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at firstname.lastname@example.org
About The University City Science Center:
The University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. It provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. The Science Center was the first, and remains the largest, urban research park in the United States. Since it was founded in 1963, graduate organizations and current residents of the Science Center’s Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. The Science Center is celebrating its 50th anniversary in 2013. For more information about the Science Center, go to www.sciencecenter.org.
About Drexel University:
Drexel is a comprehensive national research university ranked among the top 100 in the nation by U.S. News & World Report. With 25,500 students, Drexel is one of America’s 15 largest private universities. The University has built its global reputation on core achievements that include: leadership in experiential learning through its cooperative education program; a history of academic technology firsts; and recognition as a model of best practices in translational research initiatives. Founded in 1891 in Philadelphia, Drexel now engages with students and communities around the world via three Philadelphia campuses and other sites that include Drexel University Sacramento, The Academy of Natural Sciences of Drexel University and international research partnerships in several countries around the globe. Drexel Online is one of the oldest and most successful providers of online degree programs. Drexel is one of Philadelphia’s top 10 employers, and a major engine for economic development in the region. For more information, visit www.drexel.edu.
News media contacts:
Britt Faulstick, news officer, Drexel University Office of University Communications, 215-895-2617 (office), 215-796-5161 (cell), email@example.com
Jeanne Mell, vice president for marketing communications, University City Science Center, 215-966-6029, firstname.lastname@example.org
Carrie Hartman, Grimm & Grove Communications for DreamIt Ventures locally, 215-704-0917, email@example.com
Gavin Skillman, LaunchSquad for DreamIt Ventures nationally, 212-564-3665, firstname.lastname@example.org
Baltimore-bred tech entrepreneur and leader to support the upcoming DreamIt Health Baltimore program
November 27, 2013 – Baltimore, MD: DreamIt Ventures (“DreamIt”) announced today that Jason Hardebeck has joined the team as a Managing Director at the tech startup accelerator. Jason is an entrepreneur with over 20 years of experience in established and early stage technology companies in a variety of industries, including software, consumer durables, and renewables. He was the founder and CEO of WhoGlue, a software company that was acquired by Facebook in 2011, and most recently, the Executive Director of gb.tc (the Greater Baltimore Technology Council). In his new role, Jason will join DreamIt managing partner Elliot Menschik, MD PhD in running the DreamIt Health Baltimore program. The role involves recruiting program applicants, sponsors, mentors, and speakers, managing the admissions process, designing the speaker and workshop programming, managing relationships with early-stage investors, and providing hands-on guidance and mentorship of the participating companies.
“DreamIt has built an incredible platform over the last 5 years, working with and launching 127 companies from all corners of industry. I am excited to be part of the DreamIt team and have the opportunity to work with extraordinary and ambitious entrepreneurs from around the world,” Hardebeck said.
Designed to help health IT startups rapidly find product-market fit and establish their first production customers, DreamIt Health Baltimore is the product of a tight partnership between DreamIt Ventures, Johns Hopkins University, BioHealth Innovation, the Economic Alliance of Greater Baltimore and additional leading organizations to be announced.
“Jason is an exceptional fit, both for our team at DreamIt and our goal for the Baltimore program to integrate with and augment the growing tech community in the city and the broader mid-Atlantic region,” notes Menschik. “A Navy-trained engineer-turned-successful tech entrepreneur and a key leader of the Baltimore tech community, Jason will be instrumental in ensuring that the DreamIt Health Baltimore program is a huge success in attracting and growing a generation of high-growth enterprises that make the most of the region’s wealth of health IT resources and opportunities.”
In addition to adding Jason to the team, DreamIt has undergone internal restructuring to support the accelerator’s growing programs and portfolio as well as future initiative and alliances.
The expansion of DreamIt’s healthcare vertical from Philadelphia to Baltimore has come with Elliot Menschik taking on a full-time role as Managing Partner, DreamIt Health to oversee these and future programs in the sector. Elliot is a physician/scientist/engineer turned repeat tech entrepreneur. He successfully sold his last health IT startup, HxTechnologies, to MEDecision, the health IT subsidiary of Health Care Service Corporation, where he went on to lead all EHR/HIE/Telehealth/Accountable Care businesses as general manager. He subsequently founded Venturef0rth, an urban campus for tech startups in Philadelphia, and is also adjunct faculty at the University of Pennsylvania where he teaches engineering and science students how to form and lead companies to take their technology to market.
Karen Griffith Gryga is now Managing Partner, DreamIt Funds, dedicating her time to leading all of DreamIt’s fund management and fundraising efforts. In this role, she is responsible for all of DreamIt’s investment activities in the portfolio companies, limited partner relationship management and development and reporting as well as business development activities for fund strategic partnerships.
Kerry Rupp, a Managing Partner at DreamIt for nearly 4 years, was recently promoted to CEO. In this role, Kerry will oversee the all of the accelerator’s initiatives including accelerator cycles, sponsorships, strategic partnerships, marketing, and operations.
“We are extremely excited about the expansion of the DreamIt team and what this means for the strategic and operational priorities of the company,” said Rupp. “As our portfolio continues to grow we need to staff our team accordingly to support both the companies and partnerships. These organizational additions and changes are setting us up for rapid growth and expansion.”
DreamIt just wrapped up their recruiting efforts for DreamIt Austin and DreamIt Health Baltimore and are in the process of interviewing finalists in order to select the participating companies. Both programs are scheduled to kick off in January 2014
About DreamIt Ventures
DreamIt Ventures is a pre-seed stage accelerator with the goal of helping exceptional teams build exceptional companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas, a uniquely assigned and seasoned entrepreneur as a mentor, pre-seed funding, top tier accounting and legal services, a rigorous and creative working environment, and access to capital. DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since kicking off in Philadelphia with their traditional accelerator program, DreamIt has expanded to Austin, Baltimore, New York, and Israel, built a thriving healthtech accelerator program, been named among the top three accelerator programs in the world by Forbes Magazine in 2012 and launched 127 companies with an enterprise value greater quickly approaching $400M, featuring companies such as The Level Up, Parse.ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, ElectNext,
SnipSnap, Charlie, Cloudamize, Vantageous, Reactor, PeerActive, and TrendKite. DreamIt alumni have collectively gone on to raise more than $100M in follow on funding. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at email@example.com
Director of Programs
SAN FRANCISCO, CA – MindSnacks, the leading developer of mobile learning games that expand your knowledge, today announced the release of its highly anticipated U.S. Geography app, giving learners a deep understanding of geography through rich, interactive details.
Featuring eight games for users of all ages, MindSnacks’ U.S. Geography app teaches everything from state capitals and flags to culture, history, famous citizens and more. MindSnacks designed the app with National Geographic’s Geography Standards in mind to focus on locating places on a map, mental mapping skills and understanding the physical characteristics of a place. Built for both children and adults, the app is COPPA compliant, rich in content and created for anyone excited about learning.
Additionally, MindSnacks announced today that it has hit eight million downloads. Considered as one of the best education apps by Apple (iTunes Rewind), MindSnacks has also received the seal of approval from various organizations including the “Parents’ Choice Gold Award” for its Kids’ Vocabulary app and the “Teachers with Apps Certified Developer” honor.
“MindSnacks has spent the last few years developing language and vocabulary mobile learning apps and a geography app is the natural extension,” said Jesse Pickard, co-founder and CEO of MindSnacks. “While most geography learning apps focus on simple facts like capitals and state shapes, we wanted to help users truly understand states and their unique characteristics. The detailed context available in this new app is core to our mission to encourage learning in a more engaged and meaningful way.”
MindSnacks provides a stronger appreciation for the essential skills of geography by transporting users into the world of each U.S. state. The new U.S. Geography app features:
Eight different geography games that build needed skills that go beyond simple content memorization
Advanced geography topics, fun trivia and essential state facts
The ability to choose the exact level of content that’s right for you
Thousands of beautiful, hand-illustrated images to represent the uniqueness of each state
MindSnacks’ U.S. Geography app is available today in the App Store for $2.99. To download MindSnacks, visit https://itunes.apple.com/us/artist/mindsnacks/id385497071.
MindSnacks changes the way the world learns, one game at a time. Since 2010, MindSnacks has created mobile games that expand your knowledge while you play. With more than 8 million app downloads worldwide, the growing MindSnacks library includes 10 top-ranked language acquisition and test-preparation apps for hungry minds. Based in San Francisco, MindSnacks is funded by Sequoia Capital, Felicis Ventures, 500 Startups, and Kapor Capital. To learn more and to download MindSnacks games, visit MindSnacks.com.
Press Release via MarketWatch
Today Tidal Labs, the technology platform that creates content-driven communities for publishers, brands and online retailers, announces the launch of Rakuten Essential ( http://www.rakuten.com/essential/ ), a new shopping experience that brings together the web’s best tastemakers and Rakuten.com’s thousands of merchants to take shoppers on a journey to find great products.
Rakuten.com Shopping has continuously aimed to provide a fun, engaging shopping experience by connecting buyers and sellers in a dynamic marketplace and this new launch is part of its ongoing goal to be sure its customers are “buying from people, not the internet.”
As online retail has matured, it is no longer adequate to compete on price alone. As consumers have become savvier, they have become immune to generic product catalogs and increasingly open to the serendipity of discovering something new in new ways online.
Partnership with Johns Hopkins and BioHealth Innovation, Inc.
will speed 10 healthtech startups to market
Baltimore, MD and Philadelphia, PA — September 18th, 2013—DreamIt Ventures is pleased to announce the launch of DreamIt Health Baltimore, a partnership with The Johns Hopkins University and BioHealth Innovation, Inc. to recruit, invest in, and speed the growth and success of a select group of early-stage health IT companies. The program comes on the heels of a successful health IT program in Philadelphia also built on strong industry partnerships that give participants access and advantages typically out-of-reach to startups.
“The key to making health care more accessible is innovation, and the most fertile focus for health care innovation is in acquiring, storing, analyzing and sharing information,” said Ronald J. Daniels, President of Johns Hopkins. “This accelerator project will have important implications for the future use of information as we use technology to find solutions for the most pressing health problems of our day. Just as important, it sets up Baltimore to become even more central to the health care information revolution through the rapid validation of solutions.”
“Technology holds the potential to transform the way in which we approach health care in this country and around the world,” said Paul Rothman, MD, Dean of the Johns Hopkins University School of Medicine and CEO of Johns Hopkins Medicine. “Johns Hopkins has been at the forefront in developing innovative solutions to the most pressing health care challenges. The partnership with DreamIt presents an exciting and unrivaled opportunity to develop the most cutting-edge solutions at the crossroads of information technology and medicine.”
The Baltimore program is expected to take advantage of the many strengths of the region, giving participating startups both the opportunity to work closely with Johns Hopkins Medicine for potential pilots, and also access to key individuals throughout the region’s wealth of federal health care institutions including the Center for Medicare and Medicaid Services, the Food and Drug Administration, the National Institutes of Health and the Agency for Healthcare Research and Quality.
“Creating the first health IT accelerator in Maryland is a vital step towards enhancing the innovation ecosystem in the region,” said Richard Bendis, Chief Executive Officer, BioHealth Innovation, Inc. “This program established by DreamIt, Johns Hopkins and BHI – in partnership with the Economic Alliance of Greater Baltimore – will help make Central Maryland more attractive and competitive to emerging and existing health IT companies and to the entrepreneurs who lead them.”
As with previous DreamIt programs, companies will be recruited and selected from around the world and reside in Baltimore for the four-month duration of the program. In addition to receiving an injection of capital and donated professional services, they will be paired and work closely with exited entrepreneurs-turned-mentors; benefit from an intense startup and health care curriculum taught by accomplished practitioners; meet with subject matter experts and investors; and, enjoy privileged access to executives, information systems and data from leading industry players including providers, payers and biotech/pharmaceutical companies. Participants also benefit from a vast alumni network of 127 companies DreamIt Ventures has helped grow since 2008.
Elliot Menschik, MD, PhD and a soon-to-be-added DreamIt partner will manage the program. Dr. Menschik, a Johns Hopkins alum and repeat entrepreneur, led the program in Philadelphia. He earlier founded and ran HxTechnologies, a pioneer in medical imaging and health information exchange that was acquired by MEDecision, the health IT subsidiary of Health Care Service Corporation.
“DreamIt has considerable experience working with extraordinary people to create exceptional companies,” noted Dr. Menschik. “We’ve learned that, in health care in particular, the most important thing we can do to help founders and reduce investor risk is to enable access to resources typically out of the reach of most startups. Working closely with Johns Hopkins and BHI opens up stellar opportunities for these teams to pressure-test and speed to market their solutions to significant problems that plague patients, providers, payers and other industry stakeholders.”
DreamIt will accept applications from today through November 11th, 2013 from startups nationwide in the health care sector. To apply go to www.dreamithealth.com. Up to 10 startups will be selected by December 16th, 2013. The program will take place in Baltimore, Maryland from January 17th 2014 to May 9th 2014.
About Johns Hopkins
The Johns Hopkins University is a global leader in discovery, education and professional practice, dedicated since 1876 to putting knowledge to work for humanity. Johns Hopkins was established on what was then a revolutionary idea, that universities must do more than teach the collected wisdom of the past. Founding President Daniel Coit Gilman argued that they must also advance human knowledge and apply that knowledge for the common good. Gilman’s philosophy guides today’s Johns Hopkins, where faculty and students are partners in learning and discovery. Together, they explore what makes us human — culture and society, art and literature, life science, health and medicine. Together, they study what drives the universe in which we live. Together, they learn how to use their knowledge to make tomorrow better.
About BioHealth Innovation, Inc.
BioHealth Innovation, Inc., is a regional innovation intermediary focused on commercializing market-relevant bio-health innovations and increasing access to early-stage funding in Maryland. Learn more at www.biohealthinnovation.org.
About DreamIt Ventures
DreamIt Ventures is a pre-seed stage accelerator, with the goal of helping great people with great ideas build great companies. DreamIt was founded in 2008 by three successful technology entrepreneurs who wanted to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since then DreamIt has accelerated the growth of 127 companies including Biomeme, AirCare, Stat, Osmosis, Speso Health, SCVNGR (Level Up), SeatGeek, Notehall (acquired by Chegg), Adaptly, Yevvo, SnipSnap, Parsely, Trendkite, Betterific, ShowMe, Take the Interview, Winston, CloudMine, and MindSnacks.
Selected early-stage startups will participate in an intense three-month entrepreneurial program giving them access to both the DreamIt and Austin vibrant startup communities.
To date, DreamIt has launched 127 companies from its accelerators in Philadelphia, New York, Israel, and Austin – including one accelerator cycle, DreamIt Health Philadelphia, which focused on giving nascent health IT ventures unfair advantages in the market. In total DreamIt companies have raised over $95 million in follow on funding and now have a combined market cap greater than $375 million. DreamIt companies include: Adaptly, Cloudmine, Hoot.me, SCVNGR/LevelUp, SeatGeek, TrendKite, and Biomeme. DreamIt is thrilled to bring this track record of success back to Austin’s startup scene.
Kerry Rupp, managing partner at DreamIt Ventures, will oversee the DreamIt Austin program. Rupp moved back to Austin in 2012 bringing with her more than 20 years of executive strategy and operations experience, much of it in the startup realm, to the community and selected companies.
“Austin as an entrepreneurial community has all of the resources young startups need,” said Rupp, “Entrepreneurs participating in DreamIt Austin will gain access to capital, professional service providers, seasoned entrepreneurs, startup thought leaders, and mentors all right here in the city, and more.”
Austin’s robust startup community holds a variety of elements including world-class entrepreneurs, professional service providers, startup leaders and mentors, universities, and a nurturing community. There is also an established investor community with the likes of Austin Ventures, Silverton Partners and a strong network of angel investors including CTAN, which makes Austin a prime location for burgeoning startups.
DreamIt Austin 2013 company, TrendKite, left Philadelphia for the DreamIt Austin program. After experiencing the community and getting funded during the program the team moved back to Austin permanently to continue to grow and build their company.
AJ Bruno, founder of the company said, “Being a part of DreamIt Austin was the best decision we made early on as a company. We took TrendKite from a napkin-idea to raising our Series A all in 3 months, and that definitely wouldn’t have been possible without the mentorship from DreamIt Ventures and the community in Austin.”
Rupp will be joined by DreamIt co-founder Steve Welch, who recently relocated to Austin with his family this summer, to help mentor the companies to a successful position throughout the cycle. Welch himself is a seasoned entrepreneur; his most recent success was Kindertown, an educational app store for parents, which was acquired by Demme Learning.
“I am proud to call Austin home and help support this program.” stated Welch “At every DreamIt location you will find multiple DreamIt partners, who have real startup successes, intimately involved in the program helping mentor the companies coming into the program.”
DreamIt Austin is looking to accept up to ten companies to participate in the accelerator program where the burgeoning startups gain access to seasoned entrepreneurs and subject matter experts, uniquely assigned mentors, a small stipend of up to $25,000, services from leading law firms and accounting firms, and Austin’s top notch investment community. In addition to access and capital, participants also receive free rent and utilities in a creative co-lab working environment.
Applications are open now. Entrepreneurs from around the world are invited to apply; they must, however, be a resident in Austin during the program. Entrepreneurs interested in participating should apply through Angel List.
About DreamIt Ventures
DreamIt Ventures is a pre-seed stage venture firm, with the goal of helping great people with great ideas build great companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas, a uniquely assigned seasoned entrepreneur as a mentor, pre-seed funding, services from leading law firms and accounting firms, a rigorous and creative working environment, and access to capital. DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since kicking off in Philadelphia, DreamIt has expanded to Austin, New York, and Israel; been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 127 companies with an enterprise value greater than $380, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, ElectNext, SnipSnap, Charlie, Cloudamize, Vantageous, Winston, PeerActive, TrendKite, and Yevvo. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at firstname.lastname@example.org
Funding Accelerates the Growth of the Cloud Optimization Platform
PHILADELPHIA, Sept. 11, 2013 /PRNewswire/ – Cloudamize, the leading Amazon Web Services (AWS) optimization and capacity planning platform, has secured $1.2M in Seed funding led by MissionOG and Gabriel Investments with participation from industry angels.
AWS has provided businesses a myriad of options to move their infrastructure to the cloud; however, current customers lack tools to effectively manage it. Cloudamize helps companies by taking complex data sets associated with their AWS deployment and provides them with accurate and actionable recommendations to improve that environment. Through the Cloudamize application, companies can efficiently scale by aligning their cloud infrastructure with business objectives.
Cloudamize is the only platform that provides the necessary combination of two critical services: recommendations based on AWS cost and performance information. With insight into cost and performance, companies can confidently optimize both their current and planned infrastructure. For example, by utilizing the SaaS application, NimbleCommerce was able to identify actions to realize a 46% reduction in their AWS spend, while simultaneously ensuring that their instances were adjusted to an optimal performance range.
“As Amazon Web Services expands its offerings, customers are actively looking for solutions that ensure that their cloud deployment can meet their performance objectives, while providing the cost benefit of a flexible infrastructure,” said Khushboo Shah, CEO of Cloudamize. “With this investment, we will be able to scale our team to meet market demand for our solution.”
“In a digital economy, performance is crucial,” remarked George Krautzel, managing partner at MissionOG. “By using Cloudamize, companies can confidently adjust their AWS infrastructure to stay ahead of the changing needs of their business.”
“We are really impressed with the Cloudamize team,” said Richard Vague, managing partner of Gabriel Investments, “They have built an impressive platform to meet the needs of a very large and expanding base of companies dependent on AWS.”
Cloudamize will use the investment expand their product set and add key members to their Philadelphia office.
Cloudamize provides companies powerful tools for optimization and capacity planning for their cloud infrastructure. Customers have experienced significant monthly savings, while simultaneously increasing performance. Using predictive analytics, the Cloudamize platform suggests optimal strategies to right-size and right-price both current and planned cloud infrastructure. www.cloudamize.com
MissionOG provides human and financial capital to build B2B companies that have proven feasibility. MissionOG applies the capabilities of proven operators, instills a market driven approach to development, and leverages a highly engaged group of investors to help portfolio companies scale well beyond commercialization. Headquartered in the Philadelphia region, the MissionOG Fund is managed by entrepreneurial operators who have effectively built early-stage businesses and guided them through successful acquisition. www.missionog.com
About Gabriel Investments
Gabriel Investments consists of Philadelphia-area professionals who have joined forces to fund and aid the development of local companies through their collective business experience and contacts. Gabriel’s leadership has depth in all functional areas including general management, marketing, sales, product development, marketing communications, and finance.
For additional information, please contact:
Leverages Big Data Analytics to Solve the ROI Problem for Marketing Spend
AUSTIN, Texas, Aug 21, 2013 (BUSINESS WIRE) — TrendKite, the company changing the way marketing and media results are measured, today announced it has secured $1.2 million in Series A funding led by Silverton Partners. TrendKite has developed a robust predictive analytics platform changing the way companies measure ROI for marketing and communications efforts.
Additional investors participating in the round include DreamIt Ventures, Raymond Walheim (Founder at Inovalon), Rodrigo Carvalho (Founder & CEO, BlackLocus – acquired by Home Depot), Joshua Baer (Founder at OtherInbox; Managing Director at Capital Factory) and Sean Spector (Founder at GameFly).
The ability for companies to implement a combination of quantitative and qualitative analytics has been largely absent in the realm of media. TrendKite leverages predictive analytics to provide customers with recommendations for improving or adjusting marketing efforts to ensure better ROI.
“We are extremely grateful for the opportunity afforded to us by our world class team of investors,” said Matthew Allison, CEO and Co-Founder of TrendKite. “Companies deserve to be able to answer that question that has been long unanswered: ‘How do we measure success when it comes to media?’ Our platform was designed specifically to answer that question with definitive, meaningful results that impact your bottom line. We want to be a game changer for a new market bringing data into the world of media.”
TrendKite also announced today general availability of its cloud-based platform delivering nearly instantaneous data for its customers. The platform provides a media dashboard and reporting service available to customers via a subscription pricing model.
“We quickly recognized the executive team at TrendKite had the right combination of experience, vision and technology differentiation to become the market leader in this sector,” said Morgan Flager, Partner at Silverton Partners. “The world of media is changing nearly as fast as the technology realm. A competitive advantage in the form of advanced media analytics is extremely powerful – we are extremely excited about our investment in TrendKite.”
TrendKite’s cloud-based technology platform is currently deployed in beta in Fortune 500 companies including Nikon and the OpenStack Foundation.
“As the CMO role continues to play a larger role in the enterprise, we believe companies are going to need a different set of tools to gain comprehensive insights revolving around media and marketing strategy,” said AJ Bruno, Co-Founder and President at TrendKite. “We are on a mission to change an entire industry and bring it into the 21st century.”
Patrick Brannen, Co-Founder and CTO, rounds out the TrendKite C-level executive team. Funding will be utilized to expand top technical and sales teams at its Austin corporate headquarters.
TrendKite is a rapidly growing startup changing the way businesses measure marketing and media results. Businesses and agencies utilize TrendKite’s predictive analytics to identify and leverage media analytics with actionable insights. For more information, please visit http://trendkite.com or follow us on Twitter @TrendKite.
The renowned global accelerator presents the entrepreneurial teams that spent their summer building their businesses to the NYC startup community.
NEW YORK CITY – August 7, 2013 – DreamIt Ventures, Comcast Ventures, and Startl today host Demo Day for the 15 companies selected to participate in the DreamIt New York 2013 Summer accelerator program. The event will be held from 10:00 am to 2:00 pm at the McGraw Hill Financial building at 1221 Avenue of the Americas, Second Floor, in Manhattan. The presenting companies will each have seven minutes to present to a room full of potential investors, customers, mentors, and other industry executives.
“We had an amazing, talented, and incredibly diverse group of entrepreneurs this year, hailing from New York, Israel, Los Angeles, Canada, and many places in between,” said Mark Wachen, Managing Director of DreamIt New York. “The progress they made in just three months is astounding, and we’re thrilled to share their incredible accomplishments at Demo Day today.”
The DreamIt New York 2013 program is a collaboration between DreamIt Ventures, Comcast Ventures, and Startl. In addition to the traditional accelerator model, this year’s experience included a specialty track for education-technology companies in conjunction with Startl. The DreamIt Israel program returned with a strong group of Israeli-based startups; and for the fourth time in two years, the DreamIt Access program included five minority-led startups sponsored by Comcast Ventures, the venture capital affiliate of Comcast Corporation (Nasdaq: CMCSA, CMCSK) and an investor in the DreamIt Access program.
In DreamIt style, the startups accepted to participate are comprised of world-class entrepreneurs. In total, nearly 100 entrepreneurs, developers, designers and interns worked endless days and nights building their companies during the intense summer cycle. The companies include students and alumni from top institutions, including: Harvard, Massachusetts Institute of Technology, Kellogg School of Management, University of Southern California, Tel Aviv University, and Northwestern University. The class includes former employees of leading companies like Facebook, Hulu, NBCUniversal, Channel Production Films, DoubleClick, Clear Channel Malls, and Ignite NYC.
The 15 presenting companies are:
Callida Energy is automating energy optimization in commercial buildings. Callida’s software increases net operating income and reduces carbon emissions by learning energy use patterns and optimizing performance automatically based on unique customer needs.
CreatorUp is an e-learning platform to learn how to make and market video content. Targeting SMBs and amateurs.
GamePress lets you create fun mobile games without a single line of code and share them with the world.
HeyKiki is an aggregation platform for the education space (Kayak for classes and lessons) with over 300K classes on the platform.
Instrumagic makes music playing simple – mobile apps for expressing your inner Rockstar.
Mimoona is solving one of the largest problems in the fashion industry by enabling fashion brands/designers to predict the demand for their products before production.
Miner activates stores on your phone in real-time based on your physical location.
Perkle is a network for non-profits to connect with socially responsible businesses.’
Serviceful is the first-of-its-kind dedicated online Home Concierge for busy homeowners.
Stylr Inc. shows you the fashion you love in the stores around you and displays real-time inventory info.
TouchBase‘s technology enables a way for unique codes on physical objects to be read by any touchscreen device without the use of the camera or NFC technology.
TradeUp is a platform that prepares people for the 21st century job market using 21st century education.
Trippin’In is the Nielsen for places; analyzing social gestures on an hourly basis to draw insights, such as activity level and sentiment, about physical places.
WeDidIt enables nonprofits to empower anyone to fundraise on their behalf anywhere, anytime.
wireLawyer is an online community for lawyers to share referrals, resources, and best practices.
DreamIt Ventures, Comcast Ventures, Startl and DreamIt Israel selected the 15 participating companies in the program based on the strength of their founders and their entrepreneurial passion, and the level of innovation in their products or services. The companies began the three-month accelerator program on May 13 to rapidly advance the development and commercialization of their businesses. Each startup received a stipend of up to $25,000. During the accelerator, they received in-depth mentoring from uniquely assigned and dedicated mentors and coaching from experienced entrepreneurs and industry thought leaders. Additionally, the companies were provided workspace in Manhattan and had the opportunity to test their business models with potential customers.
Supporting partners of DreamIt New York include marquee sponsors: MorganLewis, EisnerAmper, and LaunchSquad. Additional support from law firm silver sponsors, include: Cooley, Dentons, Schnader Harrison Segal and Lewis, and Orrick, Herrington and Sutcliffe.
ABOUT DREAMIT VENTURES
DreamIt Ventures is a pre-seed stage venture firm, with the goal of helping great people with great ideas build great companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas, a uniquely assigned seasoned entrepreneur as a mentor, pre-seed funding, services from leading law firms and accounting firms, a rigorous and creative working environment, and access to capital. DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since kicking off in Philadelphia, DreamIt has expanded to Austin, New York, and Israel; been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 102 companies with an enterprise value greater than $370, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, ElectNext, SnipSnap, Charlie, Cloudamize, Vantageous, Reactor Labs, PeerActive, TrendKite, and Yevvo. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at email@example.com
ABOUT DREAMIT ISRAEL
DreamIt Israel (www.dreamitventures.com/Israel) is a unique program for Israeli startups to open the US and global markets. DreamIt Israel is a four month program with the first month in Israel followed by three months in DreamIt NY where Israeli startups work alongside US and international startups.
ABOUT COMCAST VENTURES
Comcast Ventures (www.comcastventures.com) is the venture capital affiliate of Comcast Corporation. Comcast Ventures invests in innovative businesses that represent the next generation of digital, entertainment, media, social, e-commerce and advertising technologies that will change the way people live, work and interact. Comcast Ventures consists of the previously combined Comcast Interactive Capital and NBCUniversal Peacock Equity Fund.
Startl is a social enterprise dedicated to accelerating the growth of digital innovations for learning – from kindergarten to college, inside and outside the classroom. Focused on catalyzing next generation products with the greatest promise of transforming the education sector and the learning market, Startl recruits young innovators and entrepreneurs, immerses them in a rigorous product design and development process and helps them build socially responsible and fiscally sustainable start-ups. Startl received funding from the John D. & Catherine T. MacArthur Foundation, the William and Flora Hewlett Foundation, the Bill and Melinda Gates Foundation, the W.K. Kellogg Foundation and the Lumina Foundation. For more information, visit www.Startl.org.
# # #
|Gavin SkillmanDreamIt VenturesLaunch Squad
|Laurie RacineStartllaurie@Startl.org||Tina Warner
Head of Communications
10 startups showcase their business plans during an event at World Café Live
PHILADELPHIA – July 24, 2013 –Independence Blue Cross (IBC), Penn Medicine, and DreamIt Ventures today host “Demo Day” for 10 health care startup companies selected to participate in DreamIt Health, the first-ever Philadelphia-based health care accelerator. The event will be held from 10 a.m. to 2 p.m. at World Café Live! at 3025 Walnut Street in Philadelphia. The participants will each have seven minutes to present their business plans to potential investors and customers, mentors, and health care executives. Demo Day events are ideal opportunities for startups to begin raising money to launch their businesses and gauge interest among key audiences.
“As health care undergoes dramatic change, I believe that the health care companies that thrive will be those with a clear vision that move rapidly and innovate. The caliber of this group of entrepreneurs and the diverse health care companies they represent is very promising and we’re pleased to have played a part in helping them plan, develop, and now present their ideas,” said Daniel J. Hilferty, president and CEO of IBC. “We are committed to transforming our region into a magnet for health care innovation, investment and employment, and supporting bright, new ideas like those we nurtured through DreamItHealth will help us get there faster.”
“The companies we’re seeing at Demo Day are debuting some of the best and brightest solutions that will shape the future of health care’s business model,” noted Ralph Muller, CEO of University of Pennsylvania Health System. “Innovation in health care is essential to our ability to provide patients with the most advanced treatments available, so we’re excited to see such a high level of prowess from these startups.”
The 10 companies began a four-month boot camp on April 8 to rapidly advance the development of their innovative health care solutions and business models. Sponsored by IBC and Penn Medicine, DreamIt Health launched in December 2012 with a nationwide search for unique health care startups that apply technology to the challenges of keeping people healthy and providing more effective and affordable care.
The program sponsors selected the 10 participating companies based on the proven business skills of their founders and their entrepreneurial passion, and the level of innovation in their products or services.
Each startup received a stipend of up to $50,000, workspace at Venturef0rth in Philadelphia, and in-depth mentoring and coaching from experienced entrepreneurs and health care executives to help develop their products. The class will graduate on August 9, 2013.
The companies participating in Demo Day are:
Aircare helps hospitals prevent readmissions and improve patient outcomes through tele-nursing, remote monitoring, and patient-specific analytics.
Biomeme transforms a smartphone into a convenient, low-cost lab for quick DNA diagnostics and on-site disease tracking with instant connectivity.
Fitly provides busy people with a free and convenient delivery service of healthy ingredients, meal planning, and simple prepping instructions straight to the workplace, school or community.
Grand Round Table is an EHR-based decision support tool that helps clinicians benefit from the wisdom of the whole health system at the point of care. By pattern matching their cases against a database of millions of de-identified health records, case reports, and medical publications, clinicians using GRT can arrive at the right treatment plan more efficiently.
Lucidity Health brings price transparency to the point of order for drugs, labs, and imaging to help providers, payers, and patients save money.
Medlio is creating a virtual health insurance card. The app provides healthcare cost transparency for patients and helps providers collect patient responsible balances up front which is critical to their financial sustainability.
Osmosis is a web- and mobile- educational platform that helps clinicians discover, learn, and retain medical information more efficiently.
Seratis (divlan) is a mobile communication platform bringing physicians and other health care professionals out of the pager era and leverages smartphone capabilities to coordinate, track and analyze care across the health care team.
SpeSo Health is an online platform that connects the 30 million patients with rare and orphan diseases with the care providers who are experts for those complex, high-cost conditions.
Stat provides a platform for any patient, caretaker or healthcare organization, such as a hospital, to quickly and easily request nearby idle EMS services.
“Demo Day is the capstone of the accelerator program, an opportunity to peel back the wraps on what they’ve accomplished to date and their roadmap for the future before a select audience of potential investors, partners and customers,” said Elliot Menschik, Managing Director of DreamIt Health.
Supporting sponsors of DreamIt Health include Towers Watson, a leading global professional services company, accounting firm EisnerAmper, and law firms, Morgan Lewis, Cozen O’Connor and Pepper Hamilton.
About Independence Blue Cross
Proudly celebrating its 75th anniversary in 2013, Independence Blue Cross is the leading health insurer in southeastern Pennsylvania. With our affiliates, we serve more than seven million people nationwide. We are enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more about how we’re changing the game, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.
About Penn Medicine
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, and excellence in patient care. Penn Medicine consists of the Raymond and Ruth Perelman School of Medicine at the University of Pennsylvania (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System, which together form a $4.3 billion enterprise.
The Perelman School of Medicine is currently ranked #2 in U.S. News & World Report’s survey of research-oriented medical schools. The School is consistently among the nation’s top recipients of funding from the National Institutes of Health, with $479.3 million awarded in the 2011 fiscal year.
The University of Pennsylvania Health System’s patient care facilities include: The Hospital of the University of Pennsylvania — recognized as one of the nation’s top “Honor Roll” hospitals by U.S. News & World Report; Penn Presbyterian Medical Center; and Pennsylvania Hospital — the nation’s first hospital, founded in 1751. Penn Medicine also includes additional patient care facilities and services throughout the Philadelphia region. Penn Medicine is committed to improving lives and health through a variety of community-based programs and activities. In fiscal year 2011, Penn Medicine provided $854 million to benefit our community.
About DreamIt Ventures
DreamIt Ventures is a pre-seed stage venture firm, with the goal of helping great people with great ideas build great companies. DreamIt provides aspiring entrepreneurs with access to seasoned entrepreneurs and subject matter experts to help them validate and de-risk their ideas, a uniquely assigned seasoned entrepreneur as a mentor, pre-seed funding, services from leading law firms and accounting firms, a rigorous and creative working environment, and access to capital. DreamIt was founded in 2008 by three successful technology entrepreneurs who want to create the same type of opportunities that they were fortunate to have had themselves for the next wave of entrepreneurs. Since kicking off in Philadelphia, DreamIt has expanded to Austin, New York, and Israel; been named the third best accelerator program in the world by Forbes Magazine in 2012; and launched 102 companies with an enterprise value greater than $370, including: SCVNGR, Parse,ly, SeatGeek, Adaptly, MindSnacks, ShowMe, AppAddictive, LearnBop, Take The Interview, Cloudmine, ElectNext, SnipSnap, Charlie, Cloudamize, Vantageous, Winston, PeerActive, TrendKite, and Yevvo. More information about DreamIt Ventures is available online at www.dreamitventures.com, or via email at firstname.lastname@example.org
Venturef0rth provides tech startups and early-stage companies a physical home in Philadelphia designed for coworking and collaboration, a community of peers, operational support, and guidance from entrepreneurs-in-residence. It also serves as a venue for events at the intersection of entrepreneurship, technology and design. Venturef0rth was founded and is managed by three successful entrepreneurs driven to accelerate the success of the region’s emerging tech titans. Elliot Menschik, M.D. Ph.D., will co-lead the program. Dr. Menschik’s last company, HxTechnologies was a pioneer in medical imaging and health information exchange and was acquired by MEDecision, the health IT subsidiary of Health Care Service Corporation.