Archive for October, 2004

Med-Shred Raises $7 Million in B Round Financing

Thursday, October 28th, 2004

Funding will Complete the Medical Waste Treatment Firm’s Texas Expansion and Paves Way for Med-Shred’s National Rollout

Houston, TX – October 28, 2004 – Med-Shred, Inc., the world’s premier mobile on-site medical waste treatment services company, announced today it raised $7.0 million in Series B equity financing. Murphree Venture Partners (Houston, Texas) led the financing round that included Chrysalis Ventures (Louisville, Kentucky), Cogene Ventures (Houston, Texas), Delta Capital (Memphis, Tennessee), Erasmas Louisiana Growth Fund (Baton Rouge, Louisiana) and individual investors. Med-Shred will use the funding for its on-going business expansion into the San Antonio/Austin, Dallas/Fort Worth and Corpus Christi/South Texas markets and for initiation of its national rollout.

Med-Shred provides a patented, on-site, mobile waste treatment service that is revolutionizing the way hospitals manage their medical waste. “Instead of hauling waste hundreds of miles to a central incinerator or autoclave plant, our truck-mounted process disinfects and reduces medical waste volume by 85% in minutes right at the hospital’s loading dock,” explains Med-Shred COO and founder, Raymond Hart. “We render the medical waste harmless, make it HIPPA-compliant, and place the treated waste in the hospital’s trash compactor for hospital disposal as ordinary municipal solid waste.”

Waste industry veteran, Roger Ramsey, now leads Med-Shred as its new Chairman and CEO. Mr. Ramsey is the founder and former CEO of ($5.5B) Allied Waste Industries, Inc. and previously the co-founder and CFO of ($3.5B) Browning Ferris Industries (BFI) which was acquired by Allied in 1999. Growth companies with which Mr. Ramsey has been previously associated have raised over $12 Billion in the national and international capital markets. Throughout his career, Mr. Ramsey has played an important role in taking three companies from start-up to multi-billion dollar public corporations.

Med-Shred now services some of the largest hospitals in Texas and its process meets all applicable regulatory requirements. Med-Shred eliminates medical waste liabilities immediately because medical waste never leaves the hospital site.

“Twelve years and millions of dollars have been invested in developing our advanced technology,” says Med-Shred President and founder, Randolph Henry. “Over the last two years we’ve proven our process works extremely well by servicing major Houston hospitals.” Mr. Henry also notes, “‘Customer pull’ from cities in Texas and other states has been very strong, and we’re now positioned to rapidly capture these new markets.”

Med-Shred CEO, Roger Ramsey reflects, “At Allied Waste, I decided not to take the corporation into the medical waste business because I predicted an advanced mobile process company, like Med-Shred, would emerge and take over the market. Now I get to take part in making that prediction a reality.”

New members of Med-Shred’s Board of Directors include Koleman Karleski of Chrysalis Ventures and Christopher Kersey, M.D. of Cogene Ventures. Existing Board members include Dennis Murphree of Murphree Venture Partners and Med-Shred officers, Roger Ramsey, Randolph Henry, and Raymond Hart.

Med-Shred is headquartered in Houston, TX with offices in San Antonio/Austin, Dallas/Fort Worth and Harlingen, Texas. For investor information, please contact Dennis Murphree of Murphree Venture Partners @ 713-655-8500. For waste treatment services information, please contact Jim Rolfe, Med-Shred’s Corporate Development Director @ 713-457-0400.

ABOUT MED-SHRED

Med-Shred is a Texas-based corporation that provides mobile on-site waste treatment services. Med-Shred’s patented waste processor units utilize an EPA approved disinfecting solution. Med-Shred’s processors eliminate medwaste liabilities, require no hospital capital investment, provide HIPPA protection, and enable guaranteed cost reduction. In minutes, Med-Shred-treated medwaste is rendered benign and deposited into existing hospital waste compactors for disposal as ordinary municipal solid waste. For more information, please visit: www.medshred.com.

ABOUT MED-SHRED INVESTORS

For more information on Med-Shred Investors, please visit the following internet sites: Murphree Venture Partners (www.murphco.com), Chrysalis Ventures (www.chrysalisventures.com), Cogene Biotech (www.cogenebiotech.com) and Delta Capital (www.deltacapital.com).

iSqFt® Named To Inc. 500

Wednesday, October 20th, 2004

Honored by INC. magazine as fastest growing construction industry category leader in U.S.

Cincinnati, OH, October 20, 2004 – Web-based construction software provider iSqFt has
been selected by Inc. magazine to its 23rd annual Inc. 500 ranking of the fastest-growing private companies in the country. iSqFt ranks 50th on the list with four year annual sales growth of 496% and total growth of 1,984%.

The company also ranks first overall in the construction industry category.

The Inc. 500 ranks privately held companies according to averaged year-over-year sales growth over the past four years. With approximately 75% of all new job creation in the U.S. coming from small businesses, the Inc. 500 is a prescient indicator of the companies and industries that are driving the economy forward.

As a web-based construction information, document management and bid solicitation solutions company, iSqFt connects general contractors, subcontractors, suppliers and manufacturers online. Its Web-based software provides access to project information and powerful work tools to manage the bidding process effectively, saving time and money in the process.

“Being selected to the Inc. 500 list is a tremendous honor for our company, our employees, our business partners and above all, our customers,” said Dave Conway, iSqFt chief executive officer. “Our revenue has doubled for four consecutive years and will also double again this year as customers continue to realize value in the services we provide.”

“Our selection to this list verifies that web-based services are rapidly becoming mainstream business tools in the construction industry. It also verifies our position as the industry’s leading provider of online bid management solutions.”

To be eligible for this year’s Inc. 500, companies had to be independent and privately held
through their fiscal year 2003, have had at least $200,000 in net sales in the base year of 1999 for Inc. 500 alumni and 2000 for new applicants, and $2 million in net sales for 2003. In addition, their 2003 sales had to exceed 2002 sales. Companies are ranked on averaged year-over-year sales growth. Inc. verifies all information using tax forms and audited financial statements from certified public accountants and by conducting interviews with company officials.

About iSqFt
Founded in 1993 as Construction Software Technologies, Inc., Cincinnati-based iSqFt help tens of thousands of contractors, subcontractors, suppliers and professional estimators across the U.S. find work, reduce costs and increase efficiency.

The company provides the Internet Plan Room,™ a secure, business web site providing subcontractors, suppliers and professional estimators with 24-hour, online access to project information, plans and specifications for publicly bidding construction projects.

The company also offers the Private Construction Office™, providing general contractors with a private digital workspace featuring a secure, automated bid solicitation tool for public, private and negotiated projects and allowing for quick document distribution over the Internet to subcontractors and suppliers.

iSqFt has enjoyed an important, strategic partnership with the Associated General Contractors of America since 2001, working with AGC chapters to build and maintain Internet Plan Rooms within local markets. Additional partnerships include those with Associated Builders and Contractors, Construction Data Corporation, Construction News Corporation, and the Mountainlands Area Plan Room.

Intelliseek® Named To Inc. 500

Wednesday, October 20th, 2004

From startup to No. 294 on Inc. 500’s list of the country’s fastest-growing private companies in seven busy years: the latest Intelliseek milestone

CINCINNATI, Ohio (Oct. 20, 2004) — Intelliseek Inc., a marketing intelligence firm that provides technology-driven solutions to measure and analyze online word-of-mouth behavior for marketing and advertising professionals, has placed 294th on Inc. magazine’s 2004 list of the country’s 500 fastest growing, privately held companies.

Intelliseek’s first-ever inclusion on the prestigious Inc. 500 list comes on the heels of its most successful year to date and validates the company’s ongoing technological innovations, marketplace strength and business vision, said Intelliseek CEO Mahendra B. Vora.

“This kind of national recognition is testament to the hard work, creativity, entrepreneurial thinking and sheer determination that have shaped Intelliseek’s expertise in the fields of technology-enabled consumer listening and marketing intelligence,” said Vora. “All of our employees, investors, stakeholders and clients share in this recognition, and we plan to build on this momentum for even greater success.”

Inc. describes the 2004 list as “the leading barometer of entrepreneurial vitality in the U.S.” Companies were chosen based on total net sales from 2000-2003 — an era, the magazine’s editors point out, marked by the Internet boom and crash of 2000, a 2001 recession, and ongoing corporate and industrial restructuring nationwide. Intelliseek was listed among Advertising/Marketing companies, with a 123% annual growth rate and 493% total growth since its founding in 1997.

Intelliseek history
Intelliseek was founded as a technology company focused on better solutions to search the Internet for difficult-to-find information. Through its merger with PlanetFeedback.com in 2001 and acquisition of key technology assets (ProFusion.com in 2000; Opion and CoreIntellect in 2002), Intelliseek has merged as a technology-powered marketing intelligence company.

Its flagship solution, BrandPulse(TM), discovers, mines and analyzes the vast amount of unsolicited but insight-rich consumer opinion and feedback found on the Internet’s public discussion boards, forums, blogs, and review/ratings sites (so-called “consumer-generated media”) for near real-time marketing intelligence.

Bolstered by the natural-language-processing and machine-learning solutions developed at Intelliseek’s Applied Research Center in Pittsburgh, the company’s technologies also analyze companies’ internal customer data (e-mails, surveys, warranty claims, etc.) and relate it to external online data to provide a 360-view of the voice of the consumer.

“We couldn’t be happier about Intelliseek’s inclusion on Inc.’s list of top small companies,” said Rich Kiley, interim director of CincyTech USA, the technology initiative of the Greater Cincinnati Chamber of Commerce. “It’s well deserved recognition for a great group of people driving strong progress in the marketplace. It’s also a stellar example of the critical importance of technology-based, entrepreneurial companies like Intelliseek for strenghtening our regional economic growth.”

Barbara Aras, executive director of Cincinnati’s Main Street Ventures, described Intelliseek as a “flagship, high-growth company” that continues to stimulate technological growth in the Cincinnati area.

Intelliseek’s clients include Ford Motor Company, Sony Electronics, Yahoo!, Gateway, American Honda Motor Co., Jaguar Cars North America, Microsoft, Nokia, Philips Consumer Electronics North America, Procter & Gamble, Toyota Motor Sales, Tracfone, and Volvo Cars of North America.

About Intelliseek (http://www.intelliseek.com)
Intelliseek provides technology solutions that help marketers derive intelligence
from numerous data sources, including internal CRM systems and the growing amount of consumer-generated media (CGM) found in online discussion forums, message boards, review sites and blogs. Its flagship BrandPulse(TM) solution identifies and measures CGM, creating actionable insights for brand and marketing managers, product researchers, strategists, PR and advertising professionals. Intelliseek maintains headquarters in Cincinnati with offices in New York, California and Washington D.C., and an Applied Research Center in Pittsburgh.

Greater Louisville Region Top TeN Awards for Excellence in Technology – MAVEN Award Recipient – Robert Saunders

Sunday, October 17th, 2004

Network honors local technology innovators record number of nominees for the Top TeN Awards

The Technology Network for the Greater Louisville Region (TeN) held its annual Top TeN Awards dinner on Oct. 19 at the Kentucky International Convention Center.

The network of local technology and technology-related businesses working to grow the industry in the area received more than 100 nominations representing 85 area businesses and organizations. The record number of nominees made it difficult for judges to choose winners in the 10 categories.

This year’s winners are:

Technology Intensive – Arts: Bernheim Arboretum & Research Forest for use of hand-held computers in identifying plants, trees and other items throughout the forest.

Technology in Education: Scott Horan, Jefferson County Public Schools for his work in developing relationships between business and curriculum development and the coordination of technology internships for his students.

Technology Intensive – Health: Advanced Imaging Concepts for its computerized patient records program.

Technology Intensive – Logistics: Ann Taylor Distribution Services, Inc. for its overhaul and redesign of material handling systems, which has cut delivery time in half.

Technology Intensive – Media: Captive Indoor Media for its ability to collect detailed demographic information and facilitate an on-demand advertising strategy.
Woman in Technology: Wendy Welsh, LG&E Energy for her leadership as the senior vice president of information technology and for her generous efforts in mentoring young women, working with Junior Achievement and various other community projects.

Community Service: Appriss, Inc. for its development and donation of JusticeXchange, an integrated database providing up-to-date information on inmates across the country.

Technology Entrepreneur Award: JC Stites, Autodemo, LLC who has grown his business from his garage to a staff of 15 and hundreds of clients, including Microsoft, eBay and Monster. Autodemo develops software and technology for Internet demonstrations.

Maven Award, which goes to an individual for outstanding collaboration on creating relationships and developing resources for a high tech venture: Robert Saunders, Chrysalis Ventures for his endless efforts in creating the Venture Club of Louisville, his leadership on the board of MetaCyte Life Sciences Incubator and recruiting its investors and entrepreneurs and for his work in recruiting the Great Midwest Venture Conference to Louisville.

Distinguished Technology Company Award: Stored Value Systems, which provides private label electronic cash cards that offer merchants a more efficient way in processing returned merchandise and other amenities.