The Deals Just Keep On Closing for Atlanta Technology Angels

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Verdeeco, TripLingo and Brightwhistle number among the recent investment deals handled by Atlanta Technology Angels (ATA).

ATA’s members have brought more than just capital to the company. They continue to serve as the management team’s advisers, mentors, and committed partners keeping the company focused on both short-term objectives and long-term strategy

The Atlanta Technology Angels (ATA) and its members recently completed several new deals, including funding (or participating in funding) Verdeeco, TripLingo and Brightwhistle. ATA’s goal is to help build these portfolio companies into thriving enterprises.

“We are thrilled to announce these new financings and to have the opportunity to partner and participate with companies of this caliber,” says Mike Eckert, ATA’s executive chairman. “ATA is enjoying its best deal flow in several years, and we look forward to working on several more.”

Committed to helping steward the companies in which its members invest, ATA works closely with their entrepreneurs and management teams. In fact, several members of ATA are on Verdeeco’s board of directors and helped lead the company’s financing. Knowing that ATA was the lead investor on this opportunity, other angel groups in the Southeast participated.

“Through their years of experience in running successful businesses, ATA’s members have brought more than just capital to the company,” adds M.K. Khan, CEO of Verdeeco. “They continue to serve as the management team’s advisers, mentors, and committed partners keeping the company focused on both short-term objectives and long-term strategy.”

In addition, ATA members’ investment in Brightwhistle, a deal led by Hamilton Ventures, represents an ongoing trend of partnering with venture capital (VC) and private equity firms to finance promising companies. For example, ATA also partnered with TechOperators, a well-known VC in Atlanta that is also an ATA member, in a financing HireIQ Solutions earlier this year.

“We’ve found the level of professionalism and added value in co-investing with ATA to be refreshing. It is doing a great job of addressing a vital need in the local technology community,” says Glenn McGonnigle, General Partner of TechOperators, in reference to working with Devon Wijesinghe, ATA board member and lead investor for ATA on the HireIQ deal.

“One of the reasons we like to work with ATA is that it has its finger on the pulse of the Atlanta startup scene, and Brightwhistle is a great example. The ability to aggregate ATA resources helped get this deal done,” adds Jamie Hamilton, an ATA member who also runs Hamilton Ventures. “The value derived from being a part of ATA, both to entrepreneurs and angel investors, is incalculable. Since becoming a member, I have had the chance to be involved in very exciting companies.”

TripLingo is another exciting company that ATA has supported…in the earliest stages. This language translation firm created a cell phone app to help busy travelers learn languages on the go. It was only six months old when Richard Spencer, board director of ATA, stepped in to help lead its successful financing.

“I invested in TripLingo because it has a smart, creative team addressing a specific need in a fragmented market. But I also thought, ‘If they could do that in a matter of a few months, what else could they do in this field?’” notes Spencer. “I like the people, I like the product, and I like the promise of what’s to come.”

That “promise of what’s to come” is what drives ATA to fund and help such companies reach their potential. They have completed four additional follow-on financings this year, bringing the total of completed deals to eight. Many more are in the works.

About Atlanta Technology Angels:
The Atlanta Technology Angels (ATA) is an investment group, founded in 1998, that invests in early stage technology companies based in Georgia. ATA is an active source of private capital and business experience for local technology entrepreneurs.

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Devon Wijesinghe
Atlanta Technology Angels
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