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Envista -- Backed by Egan-Managed Capital, Point Judith, Borealis -- Closes $2.5M Debt Round - cbl
By citybizlist Staff
BEVERLY -- Envista Corp. has completed its $2.5 million debt offering with six investors, according to an SEC filing.
Formerly known as Ascentia Corp., the Beverly, Mass.-based company provides Web-based software for infrastructure project coordination at utilities, municipalities and government agencies.
Investors in Envista include Borealis Ventures, of Hanover , N.H. ; Boston-based Egan-Managed Capital; and Point Judith Capital, of Providence , R.I. As citybizlist posted in May 2007, the three firms contributed to a $5 million Series A financing round.
Principals named in the current Reg D filing are Envista CEO Richard Fiery Jr.; Marc Fagan, executive vice president of product management; and directors Travis Connors, of Egan-Managed Capital; Jesse Devitte, of Borealis Ventures; David Martirano, of Point Judith; David Lemont; and Arol Wolford.
Envista has strategic partnerships with Oracle, ESRI, and Navteq.
Envista's most recent customer news was announced at the end of April, when Washington Gas Light Co. selected Envista's Software-as-a-Service (SaaS) application to help manage construction and maintenance projects. Washington Gas serves more than 1 million residential, commercial and industrial customers throughout the Washington, D.C., area.
The District of Columbia and the Washington Suburban Sanitary Commission also are clients.
Reg D filing: http://tinyurl.com/29znkxq
Also at citybizlist, see:
Envista Secures Series A Funding of $5 Million From Borealis Ventures
Bios from Envista's Web site:
Richard Fiery, Jr. - CEO
Before co-founding Envista, Rick was Vice President Global Finance for Bentley Systems, Incorporated, an international software development and distribution company with revenues of $400 million and 2,400 employees. He managed the worldwide finance team and was responsible for global accounting policies, budgeting, audits, and financial reporting.
Prior to his tenure with Bentley, Rick was the founder and CEO of Infrasoft Corporation. He founded Infrasoft in 1994 by purchasing the distribution rights to the MOSS software package from Auto-trol Technology. Only two years after inception, Infrasoft acquired MOSS Systems, Ltd., a multinational company based in the UK with 100+ employees. Infrasoft grew to $14 million in revenues from more than 30 countries until it was sold to Bentley Systems in 2003.
Before moving into the computer software industry, Rick was a registered Professional Engineer. As a Civil Engineering Consultant for CH2M Hill, he assisted with a company-wide strategic plan that included competitive analysis, competitive strategy formulation, market trend analysis, and staffing and deployment issues. At Auto-Trol Technology, he became recognized as an expert in digital terrain modeling (and MOSS software which laid the groundwork for Infrasoft). At T.Y. Lin International he designed multiple highway projects including a 14-mile long elevated freeway through the city of Taipei , Taiwan . Rick holds a BS and ME in Civil Engineering from the University of Virginia , Charlottesville . In addition, he holds an MBA from the Wharton School of Business, University of Pennsylvania .
Marc Fagan - Executive Vice President - Product Management
Marc is an industry leader in software and data modeling methods for asset management. He co-founded LEA Group's asset management software business which was acquired by Vanderweil Engineers and later became Vanderweil Facility Advisors. At Vanderweil Facility Advisors (VFA), Fagan led the company as President. Prior to founding Envista, Marc was Director of New Initiatives at Reed Elsevier (Reed Business Information) where he oversaw product planning and strategic alliances for the construction products division.
Marc has 15 year's experience developing lifecycle analysis, cost estimating, bid management, and data interoperability products for the Architectural, Engineering, and Construction ( AEC ) industry. He has, as well, developed OEM and content management applications for 3D object-based Building Information Modeling (BIM), and civil/geographic information systems software.
Trained in architecture and civil engineering, Marc spent several years after college working for industry-leading architecture and real estate development firms learning the challenges of the AEC industry. He is a registered Architect and maintains an active role in the American Institute of Architects in the Advisory Group Committee for Facility Management, and at the National Institute of Building Sciences as an O&M Subcommittee Member.
Board of Directors
Travis Connors, Partner, Egan-Managed Capital
Travis Connors joined Egan-Managed Capital in 2000. He has more than ten years of investing and financing experience with technology companies at all stages of growth. As a partner, Travis serves on the Board of Directors of Envista, Groove Mobile and Pyxis Mobile. He also spends his time evaluating new business opportunities and working closely with IntelliVid. Travis previously served on the board of directors of AllVertical, Centerstone Software, and WebEvent.
Prior to joining Egan-Managed Capital, Travis was an associate in Merrill Lynch's technology investment banking group. At Merrill Lynch, Travis was involved with both public and private financings as well as M&A activities within several sub-sectors of the technology industry.
Jesse Devitte, Managing Director and Co-Founder, Borealis Ventures
Jesse is a Managing Director and Co-Founder of Borealis Ventures, a northern New England-focused early stage venture capital firm that is a member of the Village Ventures national network of early stage venture funds. Jesse has built his career on helping software companies succeed, serving variously as an entrepreneur, public company executive, angel investor, outside director, and industry spokesman.
In addition to being a Director of Envista Software, Inc., Jesse is also the Co-Founder, Founding Investor and Director of Borealis portfolio companies Handmark and Newforma. He was formerly a Director of Borealis portfolio companies Scribe Software where he was Chairman prior to its acquisition by The Mustang Group, and @Last Software prior to its acquisition by Google. Jesse has also served as an executive in two public software companies Softdesk and Autodesk.
Jesse is the Chairman Emeritus of the Software Association of New Hampshire, a director of the New Hampshire High Technology Council, the Co-Chair of eCares and serves on the New England Executive Board of TechNet as well as numerous non-profit boards. Jesse graduated with Distinction from the Indiana University School of Public and Environmental Affairs and completed his military service as a member of the White House Communications Agency during the Ford and Carter administrations.
David Lemon, Principal, Lemont Consulting
As the key principal in Lemont Consulting, Dave helps early stage companies to develop the optimal "go to market" strategy that maximizes long term valuation for the company. Throughout his distinguished career, Dave has successfully launched, grown, and guided software companies from inception through initial public offering and successful exits to some of the largest system and software companies in the world.
Most recently Dave Lemont was the Chief Executive Officer of AppIQ, the leader in Storage Management Software. AppIQ was recently acquired by HP creating over 600% returns for investors. Immediately prior to joining AppIQ, Dave was Chief Executive Officer of Revit Technology, where he led the company through its successful 2002 acquisition by Autodesk, the world's leading design software and digital content company.
Earlier in his career Dave was Chief Operating Officer at Concentra Corporation, the leading provider of Customer Relationship Management ( CRM ) solutions for product configuration, which he led to an IPO in 1996 and ultimately a sale of the company to Oracle Corporation, where Dave managed Oracle's Product Configuration division.
David Martirano, General Partner, Point Judith Capital
David leads the Point Judith Capital's information technology investing, with a focus on enterprise software and networking. He represents Point Judith on the board of Envista Software and TAZZ Networks and was previously involved with the firm's investments in Optasite and Taqua (acquired by Tekelec).
Prior to Point Judith Capital, David co-founded Rex Capital with Dave Mixer as a venture capital firm focused on early and growth stage technology investments. His previous investments include Co-nect (acquired by Pearson), ru-Net Holdings, and SnapGear (acquired by CyberGuard).
Before Rex Capital, David was a member of the Investment Banking Group at Cowen & Company. While at Cowen, he executed public offerings, private placements, and mergers and acquisitions. Prior to Cowen, David also worked in equity capital markets at both Josephthal Lyon & Ross and Kidder Peabody. He holds a BS from the University of Rhode Island and an MBA from the Columbia Business School.
Arol Wolford, CEO at Tectonic Network
Arol founded Tectonic based on his passion for information solutions in the building design and construction industry. He has been a well-known entrepreneur in the building products information industry for the past 30 years. In 1975, he founded Manufacturers' Survey Group and five years later entered the construction information industry with the start up of Construction Market Data (CMD) in Atlanta, Georgia.
As President and CEO of CMD, Arol oversaw the CMD Group of companies which included such well known information sources as Association Construction Publications, Architects' First Source, Buildcore Product Source, CanaData, Clark Reports, Construction Market Data (CMD), Cordell Building Information Services, Manufacturers' Survey Associates, and R.S. Means. CMD Group was also part owner of BIMSA/Mexico and Burwood Reports in Southeast Asia. Arol sold CMD Group to Cahners (now Reed Construction Data) in 2000.
Arol also served for five years as General Manager of Southam Construction Information News Service (COINS) where he led the construction information businesses throughout North America. In June 1997, Arol was named honorary member of The American Institute of Architects in recognition of his outstanding contribution to the architectural profession. More recently he was selected to serve on the AIA 150 Committee, the only non-architect so honored. Arol holds a degree in biology from Westmont College.
Posted: July 15, 2010