HERMOSA BEACH--- Accordent Technologies, Inc. Raises $4 Million From TVC Ventures, LLC in Initial Close of Series A Funding
Accordent Technologies, Inc. (Accordent), a leading developer of solutions for the creation and management of rich media content announced today it has completed an initial close of $4 million in first-round venture funding led by San Diego, CA based TVC Ventures (formerly Titan Investment Partners).
Accordent solutions enable corporations, universities, and government agencies to efficiently create and manage rich media presentations for a wide array of applications, including corporate communications, distance learning, eTraining, marketing, and emergency response.
With more than 1500 customers, ranging from Fortune 500 companies such as Oracle, JPMorgan Chase and Ford, to leading universities and government agencies like Harvard, Berkeley and National Institutes of Health, Accordent has earned distinction for the reliability and ease-of-use of its solutions.
Recently recognized by Network Computing Magazine as "Best Webcast Application" and recipient of Streaming Magazine's "Editor's Choice" award, Accordent's Capture Station and PresenterPRO products enable customers to create rich media presentations that include live or recorded streaming media, synchronized images such as PowerPoint slides, as well as interactive features such as polling and moderated Q&A. In conjunction with their authoring products, Accordent also provides a suite of management models that enable users to manage, track, monetize and protect their online content.
"We are pleased that TVC Ventures, LLC shares our vision for the continuing growth of this burgeoning market," said Mike Newman, CEO of Accordent. "We will use this capital to ensure we continue to meet the needs of the enterprise and education sectors through continued innovation and accelerated time to market with new products, while also expanding our commitment to our worldwide network of partners and resellers."
With this funding round, Jeb Spencer and Steve Hamerslag, general partners of TVC Ventures, LLC, join the board of Accordent. "The adoption of online communications, specifically rich media communications, is accelerating rapidly and Accordent is ideally positioned to capitalize on this trend," said Jeb Spencer. "Accordent has a proven track-record with award-winning products, a strong reseller channel, and broad adoption in the education and enterprise sectors."
Accordent was founded in September 1999 and currently maintains its headquarters in Hermosa Beach, California with satellite offices in San Jose, Manhattan, and Charlotte, North Carolina.
About Accordent Technologies, Inc.
Accordent Technologies. www.accordent.com, develops presentation authoring and management solutions that enhance the way that universities, government agencies, and the corporate enterprise author, publish and manage online presentations for corporate communications and e-Learning. Recently recognized as providing the "Best Webcasting Solution" by Network Computing Magazine, the Accordent product line has earned a reputation for its ease-of-use, scalability, and flexibility. More than 1500 organizations worldwide, including Unisys, the United Nations, National Institutes of Health, and Oracle, rely on Accordent for their online communications.
About TVC Ventures, LLC
TVC Ventures, LLC (www.tvcventures.com), (formerly Titan Investment Partners LLC) is a San Diego based private equity fund focused on the investment in and acquisition of software and software enabled service firms across a wide spectrum of industries. TVC seeks investment opportunities with companies generating revenues of $3 million to $50 million. The firm typically invests in and acquires companies that are profitable, meet a mission-critical need of their customer base, and are in need of capital to accelerate their growth plans. TVC is managed by Jeb S. Spencer and Steven Hamerslag who, in the last three years, have led investments in the following Southern California based software companies: Del Mar Database Inc. (acquired by Fiserv Inc.), FieldCentrix Inc. (acquired by Astea International Inc.), TechnoCom Inc. and Digital Map Products. The Accordent investment is the first investment of TVCs newly raised private equity fund.