St. Louis, MO (PRWEB) July 18, 2013
VelociData, Inc., provider of the world’s fastest engineered solutions for data transformation and data quality, today announced that former Motorola Chairman and CEO Christopher Galvin has joined its Board of Directors.
The company also announced that it has closed $10 million in financing. The new capital will be used to accelerate sales and marketing efforts, as well as the recruitment of key leadership required to support the company’s growth.
As data volume and diversity continue to grow—and businesses demand faster answers to increasingly complex questions—IT organizations chronically face problematic choices such as capital-intensive investments in additional infrastructure or the adoption of new technologies that require new skill-sets while only partially addressing speed- and scale-related challenges.
VelociData overcomes these technical and financial obstacles to Big Data performance by:
1) Engineered solutions that often outperform conventional ETL solutions by 1000X
2) Allowing customers to leverage the solutions on a subscription basis
VelociData solutions also snap into existing architecture—accelerating time-to-benefit, while avoiding the cost and risk associated with more disruptive approaches.
“Any C-level executive leading a global enterprise will tell you that, in today’s hyper-dynamic and hyper-competitive markets, success depends more and more on giving decision-makers fast access to information that is complete, accurate and timely,” said Galvin. “VelociData is delivering a breakthrough response to this global need.”
Galvin led VelociData’s latest financing round, with participation from founding investors Bush O’Donnell and NewSpring Growth Capital.
“We are honored to have someone of Chris Galvin’s experience, vision and proven leadership ability join our Board,” said James O’Donnell, Chairman and CEO of VelociData. “His passion for innovation and for advancing the contribution that IT makes to top- and bottom-line business performance is a perfect fit with VelociData’s mission and go-to-market strategy.”
“In addition, we are excited to have one of our founding investors, NewSpring Growth Capital, meaningfully participate in the financing round and I personally look forward to continuing to work with Marc Lederman, General Partner at NewSpring Capital, on the VelociData board. He has been a great partner and meaningful contributor to our success to date.” added O’Donnell.
The other members of the VelociData board are:
About VelociData, Inc.
VelociData delivers the world’s fastest data transformation solutions. Its purpose-built engineered systems radically alter the performance and economics of ETL and other data-related processes essential to analytics and Big Data processing—empowering customers to achieve unprecedented information enablement. For more information, visit http://www.velocidata.com.
About Christopher Galvin:
Christopher Galvin is a seasoned technology executive with over 40 years of experience leading and working with global high growth technology organizations. Mr. Galvin's former relationships include: Chairman of NAVTEQ; Chairman and CEO of Motorola Inc.; member of the Bechtel Corporation's Board of Counselors; Chairman of the U.S.-China Business Council; director of the Rand Corporation; member of the U.S. Department of Defense Board; member of the U.S. Department of Defense Science Board; advisor to the City of Tianjin, China; advisor to the CEO of Hong Kong; and advisor to the Searle Family Trusts.
Chris currently serves as Chairman, CEO and Co-founder of Harrison Street Capital, is member of the board of MCR-Aerodyne Inc., Chairman of Cleversafe, Inc., Chairman of UniqueSoft, Inc,.a member the Executive Committee of Northwestern University's Board of Trustees; the American Enterprise Institute Board, the Legion D'honneur, Tsinghua University School of Management and Economics (Beijing); Business Council (U.S.), the American Society of Corporate Executives; the Board of the Chicago Council of Global Affairs and Chair of the Rhodes Scholars selection committee for Illinois-Michigan.
About NewSpring Capital
NewSpring Capital, based in Radnor, PA, is a leading provider of private equity capital focused in the Mid-Atlantic region. NewSpring Capital currently has over $950 million of assets under management. The family of funds consists of: (i) NewSpring Growth, which invests equity capital within the business services, enabling technology and information technology sectors to support growth, recapitalizations and mergers & acquisitions; (ii) NewSpring Healthcare, which invests equity capital within the healthcare services, specialty pharmaceutical and medical technology sectors to support growth, recapitalizations and mergers & acquisitions; (iii) NewSpring Mezzanine, which partners with business owners and financial sponsors to provide mezzanine debt and equity to support growth, acquisitions and recapitalizations; and (iv) NewSpring Holdings which focuses on control buyouts and platform builds, targeting profitable growing companies between $5 and $25 million of revenue in the business process automation, services, software and niche manufacturing / distribution sectors. NewSpring Capital combines deep operating knowledge with financial and investing expertise to provide growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful. To learn more about NewSpring Capital, please visit http://www.newspringcapital.com.