New York, NY (PRWEB) June 01, 2011
PerformLine, the leading developer of technologies for online compliance monitoring, announced today that it has closed a successful Series A funding round led by WWC Capital. Jonathan Wallace from WWC Capital will be joining the Board. Also participating in the round are First Round Capital and several leading angel investors including Jerry Neumann, Stuart Larkins, David Willey, and George Rich. The funds are being used to add several key hires, strengthen the company's sales and marketing efforts, and increase the company’s infrastructure to accelerate product development.
The company immediately announced the strategic hires of three key personnel:
- Marcela Shine joins PerformLine as Senior Vice President of Operations. Shine brings over 17 years of operational and management experience in the Lead Generation industry, most recently as CEO of Brightgeist Media, a "smart" lead generation and directory management platform. Prior to Brightgeist, Shine was Chief Operating Officer of Precision Prospects, a pioneering lead generation and affiliate management services company where she was responsible for development of the company’s lead generation platform, team development, and maintaining operational efficiencies. Shine has also held leadership positions at Reuters (now Thomson Reuters) and Lipper.
- Mario Vaccari, Vice President of Product Management, comes to PerformLine with 10+ years’ experience in the high tech sector, with a primary focus on leading software development projects. As Vice President of Engineering and Development at Image Rights, Vaccari designed and executed a world class cloud-based service, offering a web spider/crawler and visual search solution. Vaccari was previously Product Manager at Root Markets, a commodities exchange for trading and monetizing Internet-generated consumer leads, where he was responsible for the Root Exchange online lead B2B platform.
- Masroor Naved, Senior Software Developer, joins PerformLine with extensive experience in the development and enhancement of Django-based applications including multiple web applications. As Senior Software Developer at The Library of Congress, he led a development team to create new applications for the World Digital Library, including multiple Django-based processes. Prior to that, Naved was Principal Software Engineer for Washington Post/Newsweek Interactive where he architected code development and systems architecture while consistently finding ways to achieve measureable results in compressed time-frames.
"This funding will play a key role in helping us accelerate and support growth,” stated Alex Baydin, CEO and Founder for PerformLine. “The hires we’ve made are a testament to the direction and momentum of our business. They, along with the addition of Jonathan Wallace to our Board, bring an immense amount of experience in operational, technical and financial areas to the table which will prove invaluable.”
“We were very impressed with the early traction the PerformLine team has proven thus far, with their PerformMatch™ compliance monitoring product and services,” said Jonathan Wallace, co-founder and Partner, WWC Capital Group, and Board member, PerformLine. “Because of regulatory concerns, there is tremendous potential in the higher education market for online compliance monitoring platforms. We are extremely excited about PerformLine’s long-term ability to scale their platform across more verticals where compliance with industry regulations will also be key.”
About PerformLine, Inc.
PerformLine, Inc. is an online marketing and technology company focused on delivering compliance monitoring and campaign verification products and services for Advertisers, Agencies, Publishers and Ad Networks. The demand for transparency, brand protection and independent verification resulted in PerformMatch™ the broadest-reaching compliance monitoring platform in-market, offering Display, Email and Lead Generation verification all in one place. PerformLine, Inc. was founded in 2007 in New York, NY. For more information, visit http://www.performline.com.
About WWC Capital Group, LLC
WWC Capital is a private equity firm dedicated to serving middle market companies in need of capital and advice. WWC has deep experience in the technology, government services and new media sectors. WWC’s partners and funds have invested in over 30 growth stage companies and LBOs bringing deep experience in capital structures, strategic positioning and exit planning. Through WWC Capital’s affiliated investment bank, WWC Securities, LLC, its principals have completed over 325 transactions with values in excess of $15 billion. WWC Capital is based in Reston, Virginia.
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