Category: News

  • Dots game from Betaworks hits 100 million game plays in first 2 weeks

    Dots, the super-addictive iOS game from Betaworks that launched just two weeks ago, has already hit 100 million games played, Betaworks told us.

    paidContent Live 2013 John Borthwick betaworks

    Betaworks CEO John Borthwick and Om Malik talk about the future of Betaworks and testing new products at paidContent Live 2013 Albert Chau / itsmebert.com

    The game came out of experimentations with iOS interactions and designs, and it’s sort of like a mobile version of Connect Four. The main screen on Dots displays 36 colored dots that users have to connect to remove from the screen, and the simplicity of the game’s design emphasizes the flat aesthetic that’s become popular in mobile design recently.

    Dots comes from Betaworks as the NYC technology incubator has set an agressive schedule for releasing beta products each week for six weeks in hopes of seeing what works. Betaworks CEO John Borthwick talked about this strategy and said a game was in the works at our paidContent Live conference last month.

    Our review of the game can be found here, and Zach Seward wrote a guide for Quartz dissecting the different ways a user can excel at Dots. (Hint: it’s all about the squares.) The game is free to download from Apple’s app store, with in-app purchases that gives users a few additional features. Betaworks reported that the game hit 25 million games played about a week ago.

    Here’s the company’s description of how Dots got started:

    About 3 months ago, Patrick Moberg started experimenting with various iOS interaction designs as part of the hacker in residence program.  We didn’t set out to build a game, but quickly realized there’s a desire for well designed mobile entertainment so that’s where we focused.  Patrick worked for a few weeks to build something that looked beautiful and provided you some level of stimulation.  After a few days playing one of the initial concepts, we were all completely hooked.  Several betaworks employees and their partners clocked hours and hours of playtime off a fairly rudimentary pilot.  Over the next few months, we refined the scoring, design, and overall aesthetic to come up with what we simply call Dots – a game about connecting.

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  • Google+ seemingly still a ghost town; brands continue to prefer Facebook, Twitter

    Google Plus analysis: Users, brands
    Google announced last fall that its social networking site was home to 400 million members with more than 100 million active monthly users. Despite these numbers, many people are apparently continuing to ignore Google+, a service that has been labeled a ghost town. Perhaps even more concerning is Google’s inability to win over brands and businesses that have instead turned to connect with customers on competing websites.

    Continue reading…

  • Modaco Toolkit enables easy multi-user access for rooted 4.2 phones

    android-4.2-jelly-bean

    One of the coolest new features in Android 4.2 was multi-user supports. The feature is only available for tablets, although a bit of modding will enable it for phones as well. The new easiest way to get multiple user accounts enabled is the Modaco Toolkit, at least on rooted phones running Android 4.2.

    First, you’ll need to download and install the Xposed Framework, which is a fairly new tool for Android developers to add tweaks to system framework. The Modaco Toolkit is a module for the Xposed Framework. Installing the Toolkit will enable all of the multi-user options after a reboot. This mod definitely works on AOSP 4.2 ROMs,but no word on if it’ll work on skinned versions of Android. Hit the links below to test it out on your rooted device, after making a backup, of course.

    source: XDA

    Toolkit

    How-to

    Come comment on this article: Modaco Toolkit enables easy multi-user access for rooted 4.2 phones

  • Time Warner Cable’s TWC TV app updated to allow streaming away from home

    time_warner_cable_twc_tvTime Warner Cable’s TWC TV app for Android has been updated to allow users to view over 4,000 hours of on demand video and live TV streaming away from home. Streaming outside of home networks is currently limited to certain channels and Verizon customers. Right now, only ten live channels are available, but that should surely increase. Other features added in this update include TV mini guide filtering and support for increased devices on Android 2.2 Froyo and higher.

    The full change log and download link for the free app can be found after the break.

    What’s in this version:

    – Added thousands of free and subscription on demand TV shows and movies
    – Added out of home access to selected on demand shows and live TV channels
    – Expanded device support for video playback (now Android 2.2 or higher)
    – Added live TV mini guide filtering and sorting options
    – Bug fixes

     

    QR Code generatorPlay Store Download Link

     

    Come comment on this article: Time Warner Cable’s TWC TV app updated to allow streaming away from home

  • [Rumor] Galaxy S 4 “Google Edition” to be debuted tomorrow at I/O 2013

    Samsung_Galaxy_S_4_Front_Top_Samsung_Logo_Version_2_TA

    If the Nexus program is any indication, there is a group of people out there that prefer vanilla (stock, AOSP, whatever you feel like calling the pure Google Experience) Android over those skinned versions that manufacturers bloat their devices with. Some have even gone on to wish and hope that there was an ability to turn these user interfaces off and just run pure Google software. Well if current rumors ring true, we’ll see that very thing tomorrow.

    The newest rumor is that Google will be showing off a Galaxy S 4 with vanilla Android. You’ve read that right. The newest flagship from Samsung could very well run a pure version of Google’s OS. It’s rumored to be released on T-Mobile’s network in June with no love for any other carrier at the moment. Either way it brings up the question of whether or not this will be a Google Play Store exclusive or be sold in stores.

    I love rumors as much as the next person and sincerely hope that this one becomes a reality. This wouldn’t be the first time that Google and Samsung have debuted a product variant running pure Android. Remember the special edition Galaxy Tab 10.1 given out to folks at I/O? Although it would be the first time that such a product would make its way to the general public. We’ll know soon enough.

    source: Geek

    Come comment on this article: [Rumor] Galaxy S 4 “Google Edition” to be debuted tomorrow at I/O 2013

  • Windows Blue-style overhaul for Windows Phone not expected until 2014

    Windows Phone 8 Overhaul Release Date
    With Microsoft planning to release an overhauled version of Windows 8 over the summer, some may be wondering when the company will give a similar treatment to its Windows Phone 8 mobile operating system. The answer, says ZDNet’s Mary Jo Foley, is likely not until 2014. Instead, Foley’s sources say that Windows Phone users can expect three smaller updates to roll out throughout the rest of 2013 in preparation for a more substantial update sometime next year. These updates will include “support for CalDAV and CardDAV, so that it will continue to work with Google contact and calendar syncing services” and will “reintroduce support for FM radio… a feature which was part of the Windows Phone 7 operating system platform, but which was cut for Windows Phone 8.”

  • This electromagnetic coil can detect brain injuries wirelessly

    This head-mounted coil can’t read your mind, but it can tell if you’ve experienced brain trauma. The cheap medical diagnostic, a volumetric electromagnetic phase-shift spectroscopy (VEPS) clinical coil, is meant to function as a substitute to full CT scans in parts of the world where those aren’t available, and has now been field tested in Mexico.

    The VEPS technique isn’t quite the same as reading brain waves: it looks at perturbations made by the brain tissue in a weak electromagnetic field. If excess fluid is present due to swelling or bleeding, it will show up as blips in the conductivity. This can be indicative of brain trauma that might not be externally obvious, but that could require time-sensitive treatment.

    A small-scale study using the VEPS coil has now validated that it can indeed distinguish between healthy adults and individuals who were known to have brain trauma from earlier CT scans. This means that VEPS could stand in for CT scans in places like rural Mexico. Writing in the journal PLOS ONE, the researchers also demonstrated that VEPS can tell brain edema, or swelling, from bleeding. Another insight from the study was that the aging brain’s electromagnetic transmission starts to resemble that of a younger brain with a hematoma (bleeding).

    Two of the authors, Boris Rubinsky of UC Berkeley and Cesar Gonzalez from Mexico’s National Polytechnic Institute, are patent holders on some VEPS-related IP that has been licensed to a company called Cerebrotech. Cerebrotech has received funding from TriStar Technology Ventures and the National Space Biomedical Research Institute. The research published today, however, was not done with Cerebrotech’s involvement.

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  • This is why big data is the sweet spot for SaaS

    People often ask me where the smart money is in big data. I often tell them that’s a foolish question, because I’m not an investor — but if I were, I’d look to software as a service.

    There are two primary reasons why, the first of which is obvious: Companies are tired of managing applications and infrastructure, so something that optimizes a common task using techniques they don’t know on servers they don’t have to manage is probably compelling. It’s called cloud computing.

    The other reason is that the big part of big data really is important if you want to get a really clear picture of what’s happening in any given space. While no single end-user company can (or likely would) address search-engine optimization, for example, by building a massive store comprised of data from hundreds or thousands of companies as well as the entire web, a cloud service dedicated to that specific task can.

    From web security to systems management, we’re already seeing how centralized data stores provide SaaS companies a broad view into what’s happening that can then be filtered down to serve each individual customer’s specific situation. BloomReach, a SaaS startup that helps companies optimize web-page content, is another good example of this principle in action.

    How do you say, “cotton maxi dress”

    Ideally, BloomReach Head of Marketing Joelle Kaufman told me, the company wants to help customers ensure they get found in web searches by making sure they’re not invisible (buried deep down), irrelevant (not saying anything meaningful on their sites) or incompatible (not speaking their consumers’ language). On Tuesday, the company announced a new feature called Continuous Quality Management, which lets customers continuously monitor their pages to ensure they’re still featuring the right products and the right terminology. It’s the latest addition to a seemingly useful service that’s built atop a big data foundation few — if any — of its customers would ever attempt to build themselves.

    BloomReach is able to help companies optimize their sites because it’s constantly crawling the web in order to figure out how everyone else is describing their content, laying out their pages and structuring their links. Running on the Amazon Web Services cloud, BloomReach runs more than 1,000 Hadoop jobs a day that process about 5 terabytes of data and a billion data points about users’ site behavior. With the latter, co-founder and CTO Ashutosh Garg explained, the company is trying to figure out who’s visiting sites, what they’re doing, how long they’re spending there and how they’re related in terms of behavior.

    “You need to have the right amount of data and from the right places before we can do anything with it,” he said. “… It’s a massive machine learning problem.”

    BR stack

    When you consider all the possible ways something could be described or formatted, the scale of the problem becomes more evident. Simple semantic analysis like associating “desk” and “table” is easy, Garg explained, but what if some wants a lightweight camera and you only have its exact weight listed without any indication of how it compares to other options? What if people searching for “smartphones” really mean “Android phones,” but you’re top-loading your results with BlackBerry phones and Windows phones?

    Another of Garg’s hypotheticals has to do with consumers’ presentation biases. If, for example, they’re looking at a lot of websites that look the same or focus on the same things (e.g., megapixels for digital cameras), they’ll expect to see the same things from every site.

    10 nonillion possibilities: Choose 1.

    From a sheer numbers perspective, things get even hairier when you’re trying to determine the relationship between any two pages in order to figure out the best path for links to to take. Garg said this is what computer scientists call an NP-complete problem, which means the amount of time it takes to process the results is exponentially greater than the amount of content you’re analyzing. So, for example, analyzing 40 pages doesn’t take 10 times as long as analyzing 4 pages, but more like 100 times longer.

    Actually, BloomReach CEO Raj De Datta gave me another example of this problem when we spoke in early 2012. Here’s how I described it then:

    [I]f a company wants to display just 1,000 products across 100 pages, De Datta explained, there are 10-to-the-28th-power (10 octillion) possibilities for how to do that. When it comes time to describe those products, there are 10-to-the-30th-power (10 nonillion) possibilities.

    If a website has a million pages, Garg said, “it will take you longer than the life of the universe to solve that problem.”

    Where this type of problem arises, BloomReach turns to Monte Carlo simluations, a favorite technique of physicists and Wall Street quants. The method involves running lots of simulations over large data sets in order to determine approximate results in a reasonable time frame. (And if all this isn’t enough computer science and cloud infrastructure for you, I suggest attending our Structure conference in June, which features a who’s who list of speakers, including Google’s Jeff Dean, Facebook’s Jay Parikh and Netflix’s Adrian Cockroft.)

    Different queries, different pages

    Things get even trickier when you’re trying to change the content of web pages in real time as people are searching for things. This isn’t the best method for organic search, where pages need to stay pretty consistent with the indexed versions, but it can be ideal in situations such as paid search and mobile. There are millions of ways to segment buyers, Garg explained, and how accurately you assess their intent and display your content can make the all the difference. Whether someone is a new or repeat visitor often matters, as does whether someone is price-conscious (e.g., the query included “cheap”) or perhaps searching for a particular brand.

    Source: BloomReach

    Source: BloomReach

    Around the holidays, the company actually realized something interesting: The bounce rate on queries for things like “gifts for dad” or “gifts for co-workers” was pretty high, but so was the conversion rate. The time to conversion was relatively fast, as well. It turns out, Garg explained, that people don’t like to overthink certain gifts too much, so if something is presented in a visually appealing manner and is within their price range, they’ll buy.

    But creating these types of models involves more than meets the eye. For all the talk about machine learning — and machines do a majority of the work for BloomReach — people also play a critical role. A person might know better than a machine whether something was likely purchased as gift, Garg explained, or they might spot the offensive content on the T-shirt the machine decided was ideal.

    “Humans are really good at creativity, thinking through stuff,” he said.

    Smart humans are also good at knowing when they’re overmatched, which is why SaaS is so valuable in the big data era. CMOs could try doing what BloomReach or similar companies such as DataPop are doing, or they could pay someone to do it much better. Guess which route the smart ones will take.

    Feature image courtesy of Shutterstock user Andrea Danti.

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  • Verizon says 33% of subscribers now using shared data plans

    Verizon Share Everything plans
    Verizon CFO Fran Shammo revealed on Tuesday that one-third of the carrier’s postpaid customers are now on one of its Share Everything plans, Fierce Wireless reported. The executive said that adoption of the plans has been better than expected and he believes they will continue to contribute to Verizon’s growth. The number is an increase from last month when the company estimated that 30% of its postpaid subscribers were using a shared data plan. Shammo noted that customers on one of Verizon’s Share Everything plans generally use more devices such as a hotspot or tablet, which in turn will use more data and generate more revenue. The executive said that Verizon has no plans to change its current pricing strategy in the wake of T-Mobile’s new UnCarrier intuitive, although he said the carrier may give customers “more options to buy a phone,” likely referring to T-Mobile’s new smartphone installment plans.

  • Homeland Security seizes funds at main Bitcoin exchange

    The U.S. government has reportedly shut down a prime source of liquidity for Bitcoin by seizing an account connecting a Japanese currency exchange, Mt. Gox, and payment services provider Dwolla.

    The action by Homeland Security, reported by Betabeat, appears to be timed to send a clear message, coming during a week when Google Ventures and others announced major new investments in the popular cyber currency. The seizure itself is described in a screenshot posted by OKCupid cofounder Chris Coyne (see it below). It shows a message from Dwolla stating that Homeland Security has executed a “seizure warrant” against its account with Mt. Gox — the exchange where many people buy and sell Bitcoins.

    GigaOM meet up BitCoin

    What this means in practical terms is that Bitcoin traders are now shut off from one of the few ways to supply and receive funds from Mt. Gox. The Japanese exchange doesn’t work with mainstream banks — it only accepts funds via wire transfers and a handful of shadowy e-currencies.

    Homeland Security typically executes seizure warrants in connection with criminal investigations, and Coyne’s screenshot refers to actions in the US District Court of Maryland. A search of court records, however, comes up empty — which could mean the records are under seal. The US government has yet to issue a statement.

    Tuesday’s development is likely to provide a blow to the fledgling currency, which is mined by computers and is beyond the authority of any central bank. Last month’s Bitcoin crash, which saw its value fall from $266 to $105 in a single day, is believed to have been set off by liquidity problems at Mt. Gox. U.S.-based exchanges like Coinbase, which last week received a $5 million investment from Fred Wilson’s Union Square Ventures, provide a means to change dollars for Bitcoin, but only permits trades of up to $100.

    Dwolla, which has raised more than $20 million in funding from investors including Andreessen Horowitz, Village Ventures, Thrive Capital and Union Square Ventures, offers a free web-based software platform that lets users send, receive and request funds from any other user. It says it now has 250,000 account holders.

    The Homeland Security actions comes amid uncertainty about the US government’s regulatory powers over Bitcoin, which appears to be beyond the purview of the SEC.

    If you want to learn more about the possibilities — and the perils — of Bitcoin, come join us at GigaOM’s free meet-up in San Jose on Thursday between 6 p.m and 9 p.m. We’ll be chatting with the CEOs of Expensify and Lemon, and engineers from Facebook and Google. There will be cocktails too, courtesy of our friends at Ribbit Capital.

    Here’s the screenshot which was posted to Hacker News:

    Screen shot of Bitcoin seizure memo

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  • ABC yanks newer episodes off Hulu, will be available for cable customers only

    ABC Hulu Content Removal
    ABC isn’t taking kindly to Hulu subscribers who are watching its shows online instead of paying for monthly cable services. The New York Times reports that ABC, which is owned by Walt Disney, has decided to yank newer episodes of its shows off both the free version of Hulu and its own homepage and will instead put them on its mobile app that is only accessible to cable subscribers. The network says that it’s created its own in-house streaming app to better adapt to customer preferences by giving users access to its content on all their portable devices. ABC plans to roll out the app in six different cities over the summer.

  • Northleaf, Palisade Take 75% Interest in Australian Wind Farm

    Electricity and gas provider EnergyAustralia has agreed to sell a 75% equity interest in a 111MW Waterloo operational wind farm, near Clare, South Australia. The joint buyers, which will pay AUD$228 million (US$228 million) for the assets, are Canadian and Australian infrastructure investors Northleaf Capital Partners and Palisade Investment Partners. EnergyAustralia will keep a 25% interest in the wind farm and will be contracted to provide asset management services.

    PRESS RELEASE

    May 14, 2013

    JOINT VENTURE TO OWN WATERLOO WIND FARM

    EnergyAustralia today announced that it had reached a definitive agreement with infrastructure investment specialists, Palisade Investment Partners and Northleaf Capital Partners, who will now acquire a majority shareholding in the 111MW Waterloo wind farm, near Clare, South Australia.

    Under the Waterloo transaction, Palisade and Northleaf have acquired a 75% equity interest in the operational wind farm, simultaneously with a re-financing of the asset, realising total proceeds of AUD $228 million for EnergyAustralia.

    EnergyAustralia will retain a 25% equity interest in the wind farm and has signed a long-term contract with the jointly-owned entity to provide asset management services and maintain its commitment to engagement with the local community.

    EnergyAustralia will also continue to be a long term off-taker for both energy and Large-scale Generation Certificates produced by the wind farm. As an energy retailer, EnergyAustralia purchases these certificates in order to meet its obligations under the Renewable Energy Target Scheme.

    In addition, EnergyAustralia and Palisade have signed a development partnership Memorandum of Understanding, paving the way for both partners to collaborate on new renewable energy projects to meet future increases in market demand.

    EnergyAustralia Executive Manager Business Development, Ross Edwards, said the transaction would provide Palisade and Northleaf’s investors with long-term returns and exposure to the burgeoning renewable infrastructure sector, including the potential for future expansion.

    “This transaction enables EnergyAustralia to retain off-take arrangements for renewable energy and provide asset management services for Waterloo, while liberating capital to invest in future projects,” he said.

    Palisade Managing Director, Ian Mitchell, said a partnership with EnergyAustralia represented an exciting opportunity given the company’s solid operations and development track record and its reputation as a leading national energy business.

    “Palisade is looking forward to working alongside EnergyAustralia to continue the build out of our existing renewable energy and generation infrastructure portfolio in Australia,” he said.

    “Waterloo wind farm represents an exciting additional investment opportunity for our investors and we’re encouraged by the pipeline of investment opportunities that EnergyAustralia has to offer.

    Media Release

    “The Development Partnership with EnergyAustralia provides our investors with a unique opportunity to co invest alongside a leading, experienced energy player with significant operational and development expertise. The partnership also offers Palisade’s investors with a path to invest meaningful sums in quality Australian infrastructure.”

    Jamie Storrow, Managing Director and co-head of Northleaf’s infrastructure investment program, said the investment in Waterloo wind farm offers attractive, risk adjusted returns for investors with a projected asset lifespan of more than 25 years and access to contracted revenue through the offtake arrangements with EnergyAustralia.

    “Direct investment in mature, low risk wind energy assets like the Waterloo wind farm is consistent with Northleaf’s investment strategy and offers significant potential for stable, long-term returns,” he said. “We look forward to maintaining a long-term partnership with EnergyAustralia.”

    The Waterloo wind farm consists of 37 Vestas V90-3.0MW turbines.

    Participation in the joint venture also provides Palisade and Northleaf’s investors with the option to participate in a planned 18MW expansion of the wind farm, currently being assessed for local government planning approval.

    Asset-backed non-recourse financing for this transaction is being provided by a number of large banks with the first tranche lasting for five years.

    For further information please contact:

    EnergyAustralia:
    Sarah Stent, Manager Corporate Affairs
    Telephone +61418 142 173

    Palisade Investment Partners:
    Roger Lloyd, Director
    Telephone +612 8970 7801
    [email protected]

    Northleaf Capital:
    Jeff Pentland, Managing Director
    Telephone +1.416.477.6165
    [email protected]

    Photo courtesy of Shutterstock.

    The post Northleaf, Palisade Take 75% Interest in Australian Wind Farm appeared first on peHUB.

  • Ron Mock to Replace Jim Leech as Head of Ontario Teachers

    Ontario Teachers’ Pension Plan‘s Ron Mock, who is currently senior vice-president, fixed income and alternative investments, will succeed Jim Leech as president and CEO at the beginning of 2014. Mr. Leech, who joined Teachers in 2001 to lead the pension plan’s private equity investment arm Teachers’ Private Capital, will retire on December 31, 2013. Mr. Mock joined Teachers in 2001. His responsibilities have included being a board member of Cadillac Fairview, which manages Teachers’ $21 billion real estate portfolio.

    PRESS RELEASE

    OTPP names Ron Mock President and CEO effective January 1, 2014, succeeding Jim Leech, who retires at year-end.

    May 14, 2013

    TORONTO – Effective January 1, 2014, Ron Mock, currently Senior Vice-President, Fixed Income and Alternative Investments, will succeed Jim Leech as President and Chief Executive Officer of Ontario Teachers’ Pension Plan (Teachers’).

    Mr. Leech is retiring December 31, 2013 after more than 12 years at Teachers’, the last six as Chief Executive Officer. Teachers’ Chair, Eileen Mercier, made the announcement today, noting that Mr. Mock’s appointment continues the organization’s tradition of cultivating talent internally and promoting from within.

    “Ron brings the ideal combination of experience, knowledge and leadership acumen to the CEO role at this high performance organization,” said Ms. Mercier. “We have every confidence that he will lead the organization to new levels of success as CEO, as Jim has and Claude Lamoureux did before him.”

    A selection committee of the board has been engaged in preparations for the CEO succession since 2011, in anticipation of Mr. Leech’s retirement. “We undertook the same approach we would expect of our portfolio companies: a comprehensive succession process with consideration to both external and internal candidates to ensure the best possible successor to Jim, for the best possible impact on the organization,” said Ms. Mercier. “Jim and his executive team have a number of important goals they are focused on achieving before he retires later this year, and he remains firmly in charge until then,” she added.

    Ron Mock joined Teachers’ in 2001 as Director of Alternative Investments. He was promoted to Vice-President later that year, a position he held until 2008, when he was promoted to Senior Vice-President, assuming responsibility for all fixed income assets and strategy as well as alternative investments and hedge funds. He also is a board member of wholly-owned Cadillac Fairview, which manages Teachers’ $21 billion commercial and retail real estate portfolio.

    Mr. Mock holds a B.A.Sc. in Electrical Engineering from the University of Toronto and an MBA from York University.

    “I have the luxury of inheriting the leadership of a thriving and successful organization,” said Mr. Mock. “I will be working from a solid foundation and I can only thank the board for their confidence and Jim for his generosity in sharing his knowledge, and most of all for his vision and leadership during his term as Teachers’ CEO. I will be working closely with him until his retirement to ensure a smooth transition.

    While this appointment may be somewhat daunting, the prospect of leading this exceptional organization is the most invigorating challenge I have ever faced and I look forward to doing my best for everyone from members to employees, plan sponsors to investment partners.”

    “I could not be more pleased with the board’s decision to appoint Ron,” said Mr. Leech. “He has been an outstanding leader at Teachers’ and members of the board, our executive team and I admire his knowledge and good judgment. Ron and I share the privilege of joining Teachers’ at the same time. His track record here is excellent, with the Fixed Income portfolio totaling $60.0 billion at the end of 2012. Importantly,” stressed Mr. Leech, “Ron has a reputation for collaboration and team building, balancing current needs with a view to future possibilities. Plan members, sponsors, our employees and our investment partners all will benefit from his leadership of Teachers’.

    “Over the past six years, I have had the honour and privilege of leading this one-of-a-kind organization,” Mr. Leech noted. “We have always been focused on doing the right things for our members, and that is reflected in our culture, which I know will continue under Ron’s leadership.”

    Mr. Mock’s successor as Senior Vice-President has not yet been named.

    Mr. Leech joined Teachers’ in 2001 with a mandate to expand Teachers’ private investment activities globally. Under his leadership, Teachers’ Private Capital became one of the world’s largest and most successful private investors. He took on the CEO role just as the investment world was about to start reeling from the financial crisis. He is credited with keeping a steady hand on the wheel as Teachers’ coped with the tumult, and with leading the team that has recouped all losses and raised net assets to $130 billion. He has earned international recognition for his leadership in advocating for an evolved defined benefit plan model that reflects the demographic and economic reality of the day. His full professional bio is available here.

    About Teachers’

    With $129.5 billion in net assets as of December 31, 2012, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada. An independent organization, it invests the pension fund’s assets and administers the pensions of 303,000 active and retired teachers in Ontario. For more information, including our 2012 and previous annual reports, visit www.otpp.com. Follow us on Twitter @OtppInfo.

    The post Ron Mock to Replace Jim Leech as Head of Ontario Teachers appeared first on peHUB.

  • Thiemann Named PrivateCore’s VP of Marketing

    PrivateCore said Tuesday it named Todd Thiemann to the position of vice president of marketing. Most recently, Thiemann was a senior director for product marketing at Vormetric. PrivateCore received VC funding from Foundation Capital in 2012.

    PRESS RELEASE

    PrivateCore, the private computing company, today announced the appointment of Todd Thiemann to the position of vice president of marketing. Thiemann will manage all the company’s marketing and brand building programs. He reports directly to PrivateCore CEO, Oded Horovitz.

    Thiemann brings more than 20 years of enterprise security and cloud marketing experience to the PrivateCore management team. He has led global product marketing, web marketing and communications functions for security and systems companies including Vormetric, Trend Micro, Hewlett Packard, and Oracle.

    “Todd is a tremendous addition to our executive team and has a stellar track record for positioning emerging technologies, growing revenue, building world-class marketing teams and delivering results,” said Oded Horovitz, CEO of PrivateCore. “Todd will play a pivotal role in driving PrivateCore’s go to market strategy for the vCage technology and taking the company to the next level.”

    Thiemann joins PrivateCore from Vormetric, Inc., a leading provider of data protection solutions, where he was senior director for product marketing. In that role, Thiemann led the company’s product marketing activities which contributed to 46% year-on-year growth during 2012. Prior to Vormetric, Thiemann led global marketing for data center solutions at global security leader Trend Micro. Thiemann has been the co-chair of the Cloud Security Alliance (CSA) Solution Provider Advisory Council for the past three years, a role with which he will continue at PrivateCore.

    “PrivateCore has developed breakthrough technology that enables enterprises to improve security and reduce their risk profile,” said Todd Thiemann. “By securing data in a completely new way PrivateCore allows organizations to establish trust in untrusted environments like the cloud and address growing threats posed by sophisticated cyber attacks. As a marketer, this is an exciting opportunity for me professionally and personally.”

    About PrivateCore

    PrivateCore is the private computing company. Its innovative vCage software is the first product to transparently protect any application while in use on commodity x86 servers. Founded by security industry veterans from VMware and Google in 2011, PrivateCore is based in Palo Alto, California. The company received venture funding from Foundation Capital in 2012. For more information, please visit www.privatecore.com.

    PrivateCore and vCage are trademarks of PrivateCore, Inc. All other names mentioned are trademarks, registered trademarks or service marks of their respective owners.

    The post Thiemann Named PrivateCore’s VP of Marketing appeared first on peHUB.

  • Matteucci Named Interim CEO of Pittsburgh Brewing

    Uni-World Capital said Tuesday that Rob Matteucci will serve as interim CEO of Pittsburgh Brewing Co. He replaces Ed Lozano. Pittsburgh Brewing is backed by Uni-World, a New York PE firm.

    PRESS RELEASE

    PITTSBURGH, May 14, 2013 /PRNewswire/ — Uni-World Capital today announced a change in leadership at Pittsburgh Brewing Company.
    “We thank Ed Lozano for his leadership over the past two years. Pittsburgh Brewing Company board member Rob Matteucci will serve as interim Chief Executive Officer until a transition to new leadership is completed and Uni-World Capital remains committed to the success of the Pittsburgh Brewing Company,” said Christopher P. Fuller , managing partner, Uni-World Capital.
    Mr. Matteucci has been a Pittsburgh Brewing Company board member since 2011. From 2005-2009 he served as CEO of Evenflo, a Miamisburg, Ohio-based manufacturer of infant and toddler car seats, gates and feeding products.
    About Uni-World Capital, L.P.
    Uni-World Capital, L.P. is a private equity firm focused on making leveraged buyout and growth equity investments in lower-middle market companies. The firm seeks to partner with management teams where it can leverage its team’s collective business experience, corporate relationships and strategic and financial expertise in order to help enhance a company’s strategic positioning and drive profitable growth. More information can be found at http://www.uniworldcapital.com.

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  • Prospect Capital Provides $150 Mln Loan for Arctic Glacier Recap

    Prospect Capital Corp. has provided a $150 million loan to support the recap of Arctic Glacier by H.I.G. Capital. Last year, H.I.G. acquired a controlling stake in Arctic Glacier, which produces and distributes packaged ice to consumers in the U.S. and Canada.

    PRESS RELEASE

    NEW YORK, NY–(Marketwired – May 14, 2013) – Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Prospect has provided a $150 million senior secured term loan to support the recapitalization of Arctic Glacier, Inc. (“Arctic Glacier”), a leading producer, marketer, and distributor of high-quality packaged ice to consumers in the United States and Canada.
    Controlled by H.I.G Capital, LLC (“H.I.G.”), Arctic Glacier is the largest producer of packaged ice in Canada and the second largest producer of packaged ice in the United States, primarily under the brand name of Arctic Glacier® Premium Ice. Arctic Glacier operates 39 production plants and 47 distribution facilities across Canada and the northeast, central and western United States, servicing more than 75,000 retail locations.
    “Prospect’s responsiveness and large balance sheet provided Arctic with certainty of execution around the entire $150 million senior secured second lien tranche, allowing us to reduce market risk and thereby providing us with an attractive alternative to the syndicated capital markets for this portion of the capital structure,” said Bret Wiener, a Managing Director of H.I.G.
    “Prospect is pleased to provide 100% of the senior secured second lien capital in support of Arctic’s recapitalization, further positioning the company to pursue accretive acquisitions and attractive organic growth initiatives,” said Jason Wilson, a Managing Director of Prospect Capital Management LLC. “This is another demonstrated example of Prospect’s ability to lead significant-sized transactions for middle-market and larger companies, thereby competing effectively with syndicated debt markets and providing more debt capital options for companies as they grow and mature over time.”
    Prospect has closed more than $1.1 billion of originations to date in the current 2013 calendar year. Prospect closed nearly $3 billion of originations in the twelve months ended March 31, 2013.
    ABOUT PROSPECT CAPITAL CORPORATION
    Prospect Capital Corporation (www.prospectstreet.com) is a closed-end investment company that lends to and invests in private and microcap public businesses. Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
    We have elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). We are required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. We have elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to us could have an adverse effect on us and our shareholders.
    ABOUT H.I.G. CAPITAL
    H.I.G. is a leading global private equity investment firm with more than $12 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 70 companies. For more information, please refer to the H.I.G. website at www.higcapital.com.
    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under our control, and that we may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and we undertake no obligation to update any such statement now or in the future.

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  • Cloudant Raises $12 Mln

    Cloudant closed a $12 million Series B funding round from Devonshire Investors, Rackspace Hosting and Toba Capital. Current investors including Avalon Ventures, In-Q-Tel, Samsung Venture Investment Corp. also purchased additional shares. Boston-based Cloudant is a provider of distributed database-as-a-service.

    PRESS RELEASE

    BOSTON, May 14, 2013 /PRNewswire/ — Cloudant, provider of a globally distributed database-as-a-service (DBaaS), today announced $12 million in series B funding from Devonshire Investors, the private equity firm affiliated with Fidelity Investments; Rackspace Hosting, the open cloud leader; and Toba Capital. The company also announced that current investors — Avalon Ventures, In-Q-Tel, Samsung Venture Investment Corporation — purchased additional shares. The funding will be used to support Cloudant’s global expansion and grow the company’s support, service, and go-to-market strategies.
    (Logo: http://photos.prnewswire.com/prnh/20120509/NE04144LOGO )
    “The market opportunity for managed, hosted databases is large, and the NoSQL model is where major mobile and Web applications are moving,” said David Jegen , managing director at Devonshire Investors. “We’re seeing that shift accelerate across the industry with Cloudant in the sweet spot of this market, adding big customer names with a highly scalable and durable DBaaS.”
    In addition to today’s funding news, Cloudant is also announcing the opening of a new office in San Francisco. Market demand recently drove the company’s expansion into the U.K. with an office in Bristol, and both new locations complement Cloudant’s Boston headquarters and Seattle office. Cloudant will use its new presence to strengthen its relationships with the Web and mobile application development communities and to build its brand in the enterprise software market. Momentum in the enterprise market has also helped the company court new investors like Vinny Smith at Toba Capital, the former CEO of Quest Software, which he led to IPO and a $2.4-billion acquisition by Dell.
    “Enterprises are quickly realizing that they want a cloud that isn’t one size fits all. They want to scale their app without having to customize it to fit within a third-party cloud,” said Vinny Smith , founder of Toba Capital. “Spending on cloud infrastructure is no longer an IT line-item; it’s now a major line-of-business concern. With strategic support from Rackspace, Cloudant is providing a clearer path for businesses to run large production workloads in the hybrid cloud.”
    “We hear all the time from customers that dealing with the complexities of large-scale systems infrastructure just slows them down,” said Pat Matthews , senior vice president of corporate development at Rackspace. “Developers want control of their infrastructure, but they don’t want to have to manage it 24×7. Cloudant is the natural extension of this idea at the database layer. We’re partners that share a commitment to delivering the highest level of customer support, which is why investing in Cloudant works so well from a Rackspace perspective.”
    Cloudant’s extremely scalable, managed NoSQL DBaaS is based on a globally distributed network of secure, high-performance data centers that provide high availability and low-latency access to data. Around-the-clock expert monitoring and administration allow customers to offload the administrative burden of operating and scaling distributed databases.
    About Cloudant
    Cloudant provides the world’s first globally distributed database-as-a-service (DBaaS) for loading, storing, analyzing, and distributing operational application data for developers of large and/or fast-growing Web and mobile applications. Cloudant’s DBaaS is a managed service that helps developers eliminate the delays, costs, and distractions inherent in working with databases and their administrators, while providing unmatched scalability, availability, and performance. This capability accelerates time-to-market and time-to-innovation because it frees developers from the mechanics of data management so they can focus exclusively on creating great applications. Cloudant is privately held and backed by top-tier investors including Avalon Ventures, Devonshire Investors, the private equity firm affiliated with Fidelity Investments, In-Q-Tel, Rackspace® Hosting, Samsung Venture Investment Corporation, Toba Capital, and Y Combinator. For more information, visit www.cloudant.com.

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  • A Chat With Daniel Guermeur, Founder Of Das Keyboard

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    I’ve been enamored with the Das Keyboard since it launched in 2005. These supremely clicky, IBM-style keyboards are some of the most rugged mechanical input devices you can buy. Their Pro model — an all-black monolith with black keys and no key markings — is the gold standard for Gibson-esque console jockeys who believe that the best keyboard can be used as a weapon and shouldn’t be touched by mere mortals.

    The company just launched a new “quiet” version of its Das Keyboard, Model S Professional Quiet, and I thought it would be fun to talk with Daniel Guermeur, founder of the company who went from being an open-source software maven at the turn of the century to making one of the most sought-after and coolest keyboards on the market. While Guermeur still works in software, his clicky Das Keyboard is probably his most lasting legacy in the gaming and programming world, a unique tool suited to unique professionals.

    John Biggs: We’ve been talking about Das Keyboard for years, but I don’t think anybody’s really talked about how you started the company, what the inspiration was?

    Daniel Guermeur: The company started in the year 2000 as a software company. At that point, we started with open source software. We actually commercialized or distributed one of the first point and click content management systems.

    Within 30 days of that software being released, it was No. 1. It was the most downloaded server software on SourceForge. We had been selling there, so our model was to provide tech support for that open source software.

    We did pretty well until the end of the dot-com boom, and at that point, every, most software companies had trouble finding customers, so we had to downscale a little bit. But we still kept going with that. We were pure software at that point.

    Me being a software person, I spend my time on the computer, like 8 or 10 hours a day every day and the weekends and so on. Even more than 10 hours, I guess. One day I realized that I’m a pretty slow typist and if I typed faster, I would actually achieve more. I kind of tried to understand why I was slow and it was because I was looking at the keys.

    So I thought, hey, if I could not look at the keys, my mind will know where the keys are. It will memorize where the keys are. So I asked my assistant to find me a keyboard with nothing on it, no key inscriptions and she came back, saying, “Hey, it doesn’t exist. I could not find one.”

    So I told her, “Hey, could you contact somebody, could you find a factory in China and have them make one just for me?” And she did. And so three months later, I received a blank keyboard, totally black and totally blank and I typed on it.

    And amazingly enough, I doubled my speed within 30 days.

    JB: Wow.

    DG: So I was pretty happy because I was very slow. I was around 30 words a minute, now I’m at 65, something like that. And I kept it on my desk and the amazing part is that people who came to my office, friends and colleagues say, “Hey, wow, you have a blank keyboard. You must be really good.” I said, “Yes, that’s me, I’m really good.”

    So there was this cool factor I didn’t know about before people told me, that it really looked bad ass. And so I kept going, using my keyboard and after about a year, I had so many requests from people asking me, “Hey, where did you buy that keyboard? We want to buy one because it’s so cool.”

    I said, “Hey, let me do a little study and you’ll be able to buy it from my website within one month.”

    I went to see my friend, Maurice Miller, who’s one of the founders of Rackspace and I told him, “Hey, I want to ask your sysadmins to test my keyboard to see if they would buy it because a blank keyboard is something that nobody wants to buy except crazy people like me.”

    My assumption was that people who are in the tech world, like sysadmins and programmers, they would like that because they were more or less like me. They said that they really liked the keyboard. About 60 percent said they would buy it, so I thought, “Hey, it’s a marketing result.” It was an informal marketing survey, nothing scientific. I thought, “Wow, that’s pretty impressive — 60 percent — it’s incredible. I’ve got to try that, to set it up online.”

    What I did is I created a one-page website over the weekend. I took a picture of my keyboard. I think it was on Monday we made the website public. It was linked to a stock Yahoo store, totally ugly. The whole website, the concept was that the blank keyboard is only for the geeks — for the ubergeeks. That was the angle.

    We sent one email to Gizmodo — a five-line email — saying, “Hey, Gizmodo. We’ve got a kick-ass, a bad-ass blank keyboard called Das Keyboard,” and we sent them the link. That’s all the marketing we did. I thought, they probably won’t publish that, ever, but my idea was that if I sell 15 keyboards, then maybe there was a market. Then if I have totally misjudged the opportunity I’ll sell probably five, so between five and 15.

    Actually, Gizmodo published a little blog post, and within five days we had millions of visitors. The keyboard was featured in the New York Times. In the print edition we had a picture of the keyboard. It was on Slashdot, CBS News, we got MTV, World News Report, we got a ton of people talking about the keyboard.

    We got millions of visitors. The web server was so busy we had to upgrade the machine. It kept crashing. We got thousands of orders within a few days.

    JB: I just realized that was my post on Gizmodo. I’m looking at it now.

    DG: Hey!

    JB: I wrote that. I just checked. I wrote that in 2005.

    DG: Thank you so much. Wow. That’s awesome.

    JB: Yeah.

    DG: Yeah, so I’m talking to you.

    JB: Yeah, I’m the guy who made your company work.

    DG: I think you are, yes. Yeah, that’s really awesome. Hopefully at some point we can meet in person so I can shake your hand.

    JB: That would be nice. Anyway, keep going.

    DG: We had a huge demand, and we didn’t plan for that so we didn’t have any inventory. We identified a few possible suppliers, but we didn’t talk to them. We said, “Hey, what do we do? We are a software company. We know nothing about hardware, and we have customers.”

    We said, “We should try to deliver within three months.”

    We contacted the customers and said, “Hey, we are out of stock. Are you willing to wait three months, and then we’ll ship?”

    The vast majority said, “Yes, we are totally wanting to wait three months because that keyboard is so bad-ass. The blank keyboard, we want it.”

    We said, “OK.” Then we worked really hard to procure all the keyboards and deliver them. That’s how it started.

    At that point we decided, “Let’s upgrade the quality of the keyboard,” so we have been starting to improve the design, improve the technology, always focusing on the highest possible quality of every component we use.

    Then we actually were able to carve a niche with positioning, which is Das Keyboard is the ultimate typing machine, where everything we design, the spirit of it, is to have the best, highest quality possible. The best typing experience possible.

    That was our idea.

    We think people spend at least eight hours a day typing on a keyboard, which makes a keyboard very important. That’s the object many people touch the most in their entire life. It’s a keyboard. That’s why we think, if you have a very responsive keyboard, very comfortable, your whole life gets upgraded. I don’t know what kind of keyboard you use, but I can tell you our customers really love it. When we have a new opening here on Metadot, they come and they start typing on it. They just love it.

    We started with the blank keyboard. That is the one I have on my desk. Then we said, “Hey, there is a lot of demand for a high-quality, very tactile keyboard, but with inscriptions,” so then we decided to do it as well. We call it the Professional. The blank one is the Ultimate. The other one is called the Professional.

    We went through several generations of products. The latest one is generation No. 3. It’s the latest, and we have several flavors.

    Two models — which is Ultimate, blank one, and the Professional — and within those we have options, like the typing experience. One is the blue key switch, which is the most clicky. We have the brown key switch, which we call Soft Tactile, so it’s less clicky but still very tactile. Less clicky means also it’s not as audible as the blue key switch.

    Today, we launched what we call the Quiet Keyboard. It’s a quiet key design. It’s a red key switch with a quiet key design, which makes it very quiet. The tactile feel is absolutely unbelievable. Maybe we should send you one like this so you can…

    That’s the demand we have now. It’s a little bit like the tomato sauce. You have tomato sauce with the gigantic piece of meat, and some people like that, and some people prefer when the meatballs are smaller, or a lot smaller. There is like a flavor of experience that people want to have. What’s amazing is that, on paper, the specifications are very similar, but the user experience is so different.

    JB: Where did you get the name? What’s the inspiration of the name? Is it just because it sounds cool?

    DG: It’s a combination of things. First of all, the switch technology is German. I’m French, and my partner is German, so we looked at a good name; we looked at a blank keyboard, and so on.

    A good name that actually meant something for many people was the word “das,” which is German for “the,” and “Keyboard” is really honest, so it will be “The Keyboard,” but with some German elements to it, which is about high quality, high performance, and good reliability, like the German concept of technology. That’s the idea behind it.

    JB: What’s the future of the keyboard? Do you think you guys are going to be making keyboards in five years? Do you think keyboards are going to stick around?

    DG: The answer is yes. In the ’80s, already I heard that the keyboard is dead — people are going to use voice recognition within a few years. I thought, “Wow, that sounds cool. I want to use that.” But the reality is that when people do serious typing they use a workstation, and they have a big screen. They have an awesome mouse, and they need to have an awesome keyboard.

    If you check on Google Trends, the search trends of “mechanical keyboards” — just those two words — you will see that the demand has been exponentially increasing in the last years. There is a huge demand, and I think the demand is going to increase, even though people buy less desktops.

    I think people who are still doing that are buying better-quality components that they use for a longer time. Hence, I think Das Keyboard is the key to doing that.

    We have lots of things in the making. A lot. If you look at the competition, typically they do, “Hey, we have a keyboard. Now we are going to do a mouse, and maybe some different keyboards, more keyboards, so 20 keyboards or 50 keyboards.”

    We are not going to do that. We have a different strategy. It’s a strategy that nobody has done yet. I cannot tell you all of it now, but the idea is that we’re going to focus on a very limited number of keyboards and we are going to increase the kind of products we sell, different kinds of products.

    The concept that we are trying to address is that people want to be more productive when they work and we are going to give them tools so they are more productive in general.

    JB: I saw the reusable earplugs on the site. That’s funny because it’s so true. This is the loudest keyboard ever. Who is the strangest or most interesting person that you’ve met who has been using Das Keyboard? Anybody famous or amazing that you know?

    DG: I know that Noam Chomsky has one.

    JB: I’m not sure that’s a good thing for some people.

  • Tollgrade Names Andrus VP of Global Smart Grid Sales

    Tollgrade Communications has appointed James Andrus as Vice President of Global Smart Grid Sales. Cranberry Township, Pa.-based Tollgrade, which is backed by Golden Gate Capital, provides service assurance solutions to electric utilities and telecommunications providers.

    PRESS RELEASE

    RESTON, Va., May 14, 2013 /PRNewswire/ — Tollgrade Communications, Inc., a global leader in providing service assurance solutions to the world’s largest electric utilities and telecommunications providers, announced today the appointment of James F. Andrus as Vice President of Global Smart Grid Sales. In this role Jim will be responsible for leading Tollgrade’s Smart Grid sales strategies and account management for Tollgrade’s LightHouse® offerings worldwide. Andrus will report to Tom Kolb , COO of Tollgrade.
    “Jim’s background and experience is a tremendous addition to our management team and comes at an important time for Tollgrade,” said Ed Kennedy , President and CEO, Tollgrade Communications, Inc. “He is an energy industry veteran with 25 years of experience driving sales at market leading smart grid companies such as ABB, Itron, Elster and ACLARA. His extensive experience and success in Latin American markets in particular will be a great complement to our global expansion strategy.”
    “I am very excited to join Tollgrade, a company that is redefining the standard for reliability at utilities worldwide,” said James F. Andrus , Vice President of Global Smart Grid Sales. “Improving grid reliability is a mission-critical objective of all utilities worldwide. Tollgrade technology takes the Smart Grid to the next level of reliability and efficiency.”
    Before joining Tollgrade Andrus was Vice-President of the Americas at Echelon Corporation. Prior to this he held executive sales management positions at ABB, Itron, Elster and ACLARA. He has served on numerous industry association committees and boards and is the past President of Utilimetrics (formerly Automatic Meter Reading Association). Andrus has frequently published articles on issues relating to utility automation strategies and technology and is a featured speaker for many utility organizations and associations in North and South America. Andrus holds a BA from the University of Hartford and an MBA from Rensselaer Polytechnic Institute.
    About Tollgrade
    With a global footprint and over 25 years of experience providing cutting-edge service assurance solutions, Tollgrade Communications, Inc, has built a reputation for improving the reliability and operational efficiency at the world’s largest utilities and broadband service providers, allowing operators to reduce customer downtime and recover lost revenue. Named one of the Top 13 Smart Grid Companies to Watch in 2013, Tollgrade is part of the Golden Gate Capital portfolio – a San Francisco‐based private equity firm with more than $12 billion of capital under their management. Learn more about the company at www.tollgrade.com

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  • AbilTo Closes $3 Mln Series A Led by .406 Ventures

    AbilTo said Tuesday it closed a $3 million round of Series A financing led by .406 Ventures. New York-based AbilTo provides behavioral health programs to help adults overcome mild and moderate depression associated with major medical events.

    PRESS RELEASE

    AbilTo, Inc., a company that delivers proven behavioral health programs to help adults overcome mild and moderate depression associated with major medical events, announced today the completion of a $3 million round of Series A financing to fund the expansion of the Company’s proprietary programs and technology platform. The financing round was led by .406 Ventures. AbilTo works through health plans and employers to provide remotely delivered behavioral health programs via phone or secure video link. Current offerings address depression associated with cardiac events, diabetes, chronic pain, breast cancer diagnosis and childbirth.

    “We are very excited to be partnering with AbilTo. The company’s combination of great outcomes for patients and meaningful savings for health plans and employers is the magic combination that we seek when investing in healthcare technology companies.” said Liam Donohue, Co-Founder and General Partner of .406 Ventures.

    Each AbilTo program is tailored to the unique challenges caused by a particular medical event and helps a patient learn new skills that positively impact mental and medical health over the course of eight-weeks. In 2011, AbilTo began collaborating with Aetna, starting with the Cardiac Health Forum to improve patient outcomes after major heart-related events.

    “In the two years since we implemented AbilTo’s approach, participating Aetna members have experienced, on average, a 70-80% reduction in depression. Today, we offer six AbilTo programs and are pleased that so many of our plan sponsors are choosing to offer them to their employees,” said William Gillis, Psy.D., Head of Behavioral Health Program Design and Product Support, Aetna.

    “With the support of .406 Ventures, we are well positioned to expand our provider network, enhance our platform capabilities and increase our program offerings, allowing us to reach additional populations who can benefit from AbilTo’s unique approach” said Michael Laskoff, CEO, AbilTo.

    About AbilTo

    AbilTo, a privately held company based in New York, NY, delivers proven protocols to help adults overcome issues caused by prevalent behavioral health disorders and life transitions. The AbilTo platform delivers fixed-duration programs with measurable behavioral health improvements and reduced health expenditures. All services are delivered remotely, using a secure video link or telephone. For more information, please visit www.abilto.com.

    About .406 Ventures

    About .406 Ventures: .406 Ventures is an early-stage venture capital firm that invests in innovative information technology and services companies founded by the finest entrepreneurs. .406 Ventures is led by a veteran team of industry entrepreneurs, operators and investors who apply real-world experience, deep industry knowledge and networks, and strong company-building skills to create value for entrepreneurs and investing partners. .406 Ventures is typically the lead, first institutional investor, in early-stage and de novo investments in market-changing IT security and infrastructure, with a particular focus on healthcare IT, Big Data, cloud and mobile software companies.

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