Edison has shown a consistent commitment to Motionsoft. With this investment and Edison’s continued guidance, MotionSoft looks forward to expanding our presence and state of the art solutions
Lawrenceville, NJ (PRWEB) July 12, 2011
Edison Ventures completed a $2 million follow-on investment in MD-based MotionSoft. The Company is a leading provider of Software-as-a-Service (SaaS) and payment solutions to the health and wellness industries. Proceeds will increase development, sales and marketing.
MotionSoft was recently ranked as one of America’s 5000 fastest growing private companies in Inc. Magazine’s Annual 500/5000 Awards. Clients include Equinox, Crunch, Gold’s Gym, Duke Fitness Center and Starbucks. The company also received the 2011 Associate Member of the Year IHRSA Award.
“This management team is recognized as thought leaders and innovators in their industry,” stated Gary Golding, General Partner, Edison Ventures. “Customers continue to praise MotionSoft’s solutions and exceptional service,” added Tom Vander Schaaff, Partner, Edison Ventures, who led diligence. Gary Golding and George Pappas, Edison Director Network member, serve on the board of directors. Pappas was EVP of Sales for recent successful Edison exit, Presidium Learning.
“Edison has shown a consistent commitment to Motionsoft,” commented Al Noshirvani, CEO, Motionsoft. “With this investment and Edison’s continued guidance, MotionSoft looks forward to expanding our presence and state of the art solutions.”
Edison has invested in 26 Interactive Marketing and eCommerce businesses. Active portfolio companies include Billtrust, Cadient, ClearPoint, Fishbowl Marketing, Lifebooker, PHX, Plumchoice, Softgate Systems. and Verilogue. High return exits include CambridgeSoft, Dendrite, Presidium and Vocus.
About Edison Ventures
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as the sole or lead investor. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, Needham, MA, New York, NY, McLean, VA and Cleveland, OH. Industry specialties include interactive marketing, internet & ecommerce, financial technology, healthcare IT, cloud-based software applications. Edison’s successes include Best Software, E-Transport, Gain Capital, Neat, Princeton Financial, Tangoe, Virtual Edge, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison Ventures currently manages over $650 million and actively making new investments. For more information on Edison Ventures, please visit http://www.edisonventures.com and follow us on Twitter @edisonventure.
Motionsoft is a leading provider of Software-as-a-Service (SaaS) and financial solutions to the health and wellness industries. Recently recognized in Inc. magazine’s annual 500/5000 report as one of the fastest growing private companies in America, the company serves nearly 2000 clients in the USA, Mexico, Canada, and Europe, including commercial gyms, family activity facilities, schools, universities and hospitals/corporate-based wellness facilities. http://www.motionsoft.net/
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