The Venture Codex

Led · Equity · Mar 2015

Security Innovation, based in Wilmington, MA, provides a suite of security solutions and services for Fortune 500 and mid-size companies to build internal security expertise and identify weak spots. Led by president and CEO Ed Adams, the company specializes in protecting sensitive data in embedded systems, desktops, web applications, mobile devices and cloud environments. It holds eight patents and offers product and services aimed at improving clients' security postures. The company is expanding its expertise into cryptography and secure communications. Security Innovation intends to use the newly raised funds to further extend its current portfolio of products and services. No revenue or user metrics were disclosed in the article. Security Innovation provides application security and high-performance crypto solutions along with products, training and consulting services. Its flagship products include TeamMentor, a web-based secure development methodologies product, and TeamProfessor, an application security eLearning system and library. The company serves government agencies, large companies and other organizations. In its second institutional funding round it raised $2M. The company said the capital will be used to scale marketing and sales activities and to further develop its TeamProfessor eLearning offering.

Participated · Series C · Apr 2014

SilverRail provides a search and distribution platform that aggregates global rail content into a unified system through direct supplier connections. Co-founded in 2009 by Aaron Gowell and Will Phillipson and based in Woburn, MA, the company standardizes the search, booking, and fulfillment processes for rail carriers and sellers. Its platform is connected to markets accounting for $60bn in rail transactions across North America and Europe, and the company is expanding into Asia. SilverRail plans to use its new funding to accelerate integration of global rail carriers and continue building its search technology. It will also expand carrier IT solutions, including multi-modal journey planning and pricing, booking and reservation management, inventory and seating management, and reporting and analytics. The company recently closed a $40m Series C to support these initiatives. SilverRail Technologies operates SilverCore, a global distribution marketplace that aggregates rail content and standardizes search, booking, and fulfilment through direct supplier connections. Founded in 2009 by CEO Aaron Gowell and Will Phillipson, the company is based in London and Boston. It currently offers in-country and multi-country ticketing across eight countries, including the UK, Belgium, the Netherlands, Luxembourg, Spain, Germany, Canada and the US. Over the past year SilverRail added carriers such as Renfe and ViaRail and partners with travel sellers including ebookers, GetThere, Egencia, KDS, AgentWare, Atriis Technologies, Dolphin Dynamics, eGlobalfares, Orbitz for Business and Rearden Commerce. The company aims to have all of Europe’s major rail carriers integrated into SilverCore within two years and plans to accelerate cross-border and inter-carrier journey planning. Financially, SilverRail raised $15m in a Series B led by Canaan Partners, with participation from Sutter Hill, Accel Partners, GrandBanks Capital and Brook Ventures to fund these initiatives. SilverRail operates a passenger rail ticketing platform. TechCrunch reports the company has raised a further $5M to support that platform. The article presents the raise as an additional capital injection for SilverRail’s ticketing business. The piece describes the company’s product as a passenger rail ticketing platform and situates the funding in that context. The provided report does not include operating metrics, investor names, financing instrument details, valuation, or other financial specifics.

Participated · Equity · Mar 2010

BabyAge.com is an online retailer selling infant, toddler and juvenile products. The company is based in Wilkes-Barre, Pennsylvania. It raised approximately $15M in a funding round. BabyAge.com said it will use the funds to execute growth plans, including expanding its business base in Northeastern Pennsylvania and hiring new staff across current and planned operations. In conjunction with the recapitalization, a new board of directors was established. The new board includes Walter Nollman (Chairman), Denise Kelly, Elliott Wahle (Alumni Capital Network), Ned Williams (Brook Venture Partners) and Jack Kiefer from BabyAge.