SilkRoad technology Named Top Venture Capital Invested Company of the Year

FYI…Best,

Matthew Roszak

SilkRoad technology Honored by NCTA

Winston-Salem, N.C. – (November 20, 2008) SilkRoad technology, a leading provider of talent management solutions, announced today it was recognized as the “Top Venture Capital Invested Company of the Year” by the North Carolina Technology Association (NCTA) at its 15th annual NCTA 21 Awards gala, November 13th, which celebrated the patriotic theme “The Election of 2008.”  The awards program annually honors companies and individuals from North Carolina’s technology industry for excellence in leadership and innovation. More than 450 industry executives and thought leaders attended the event. The awards program was presented in conjunction with Grant Thornton LLP, a leading accounting, tax and business advisory organization, which also directed the awards selection process earlier this year in collaboration with past and present NCTA chairpersons.  

This year SilkRoad’s growth and widespread recognition as an industry leader spurred investors to contribute $54 million in venture capital for the expansion of worldwide direct sales and marketing efforts, strategic acquisitions and new product development. The $54 million in capital has already allowed SilkRoad to expand their global operations by opening offices to support direct sales and marketing efforts in Singapore and Sydney, Australia, and to acquire VTN technologies and its well-known Olé online learning environment.  

“Winning the NCTA 21 Award for ‘Top Venture Capital Investment of the Year’ is a great honor,“ said Andrew J. “Flip” Filipowski, CEO SilkRoad technology.  “The funding will continue helping us improve our best-in-class products, and add to our world-class leadership team.”

NCTA’s 21 Awards program is segmented into five categories: technology industry, stage of development, functional, leadership and excellence.   

“The 2008 NCTA 21 awards was by far our most competitive with an outstanding list of finalists and a group of award recipients who distinguished themselves through outstanding achievement and superior performance,” said Brooks Raiford, president and chief executive officer of NCTA.  “I congratulate SilkRoad technology for receiving an NCTA 21 award and for the passion to lead, innovate and create.”

About NCTA

The North Carolina Technology Association’s mission is “Making North Carolina #1 in Technology and Technology #1 in North Carolina.”  The organization does this through three main focus areas: executive engagement, public affairs, and enabling member transition to a technology-enabled workforce.  For more information, visit our website at www.nctechnology.org.

About SilkRoad technology, inc.

SilkRoad technology, inc. provides software as a service (SaaS) solutions that significantly improve the talent within its more than 900 customers across the globe. Through SilkRoad’s Life Suite, an integrated talent management solution, companies are able to hire better employees, identify high and low performers, drive a pay-for-performance culture and improve employee tenure. The SilkRoad Life Suite includes OpenHire for recruiting management, RedCarpet for employee onboarding and life events, WingSpan for flexible employee performance management, GreenLight for organizational learning, and Eprise for employee intranets and content management. 

SilkRoad technology is headquartered in Winston-Salem, NC with offices in Bedford, MA; Chicago, IL; West Long Branch, NJ; Jacksonville, Florida; Hamburg, Germany; Edmonton, Alberta, Canada; Singapore, Republic of Singapore; Sydney, Australia. More information is available on the Web at www.silkroad.com or by phone:  U.S. toll free at 866-329-3363 or internationally at +1-336-201-5100.

 

InterAct Completes $28 Million Growth Equity Financing

Global market leader in the making…in a mission critical space…Cheers,

Matthew Roszak

Winston-Salem, N.C. – November 19, 2008 – InterAct911 Corporation, parent company of InterAct Public Safety Systems, announced today that it has closed on a $28 million equity round of capital led by new investors Foundation Capital and Bay Partners, joining existing investor SilkRoad Equity. Plans for the current round of capital include a significant expansion of InterAct’s worldwide direct sales and marketing efforts, strategic acquisitions and new product development. Warren Weiss, general partner of Foundation Capital, and Eric Chin, general partner of Bay Partners, will join the company’s board of directors.

InterAct is the leading provider of comprehensive public safety and homeland security solutions for private sector businesses, as well as local, state, national and international government agencies. InterAct’s suite of mission critical applications include a Next Generation 911 phone system; multi-agency, scalable computer aided dispatch (CAD), mapping and mobile data sharing systems; as well as digital video surveillance and emergency notification systems.

“Safety and security technology, both public and commercial, remains the highest procurement requirement worldwide,” said Ted Collins, president and CEO of InterAct.  “Keeping pace with evolving standards, including video, text messaging, and VoIP is essential to effectively respond to any threat.  This investment enables us to serve a far broader audience worldwide.”

InterAct is poised for significant growth with high demand for versatile and adaptive Next Generation 911 systems.  PJ Doyle, president of CJIS group, a market research firm states, “The expectation that Next Generation 911 systems will allow the use of text messages and phone video as part of the 911 call is increasing.”  Doyle adds, “These same Next Generation applications will enable public safety answering points (PSAPs) to save money and accommodate the continued need for interoperability and data sharing through virtual consolidation.”

“Beyond capital, adding both Warren Weiss and Eric Chin to our board is a unique privilege.  They are the thought leaders in technology delivery to worldwide audiences, and offer insights of unparalleled depth to the management team,” adds Collins.

Warren Weiss, general partner at Foundation Capital states, “InterAct is uniquely qualified to serve the needs of the evolving market trends. We are excited to back one of the clear leaders in the industry and help continue to drive their rapid growth.”

Eric Chin of Bay Partners, who also join InterAct’s board, added, “We are excited to join Foundation Capital as investors in the company. InterAct has a large market opportunity, an exceptional leadership team, best-in-class products and a long-term vision to become a very large, successful company.”

About InterAct911 Corporation
InterAct911 Corporation has been Making Connections for Life™ providing both stand-alone and fully integrated mission-critical public safety and homeland security systems and products since 1975. As the pioneers of the first three-screen E911 system 20 years ago, our passion for innovation is leading the way to Next Generation telephony, dispatch, records management, and mobile data systems. We’re extending the definition of public safety with unique applications like intelligent digital video surveillance, alert notification and crisis management systems. InterAct makes it possible for first responders from private, state, local and national agencies to decrease response times and increase their effectiveness in the communities they serve. InterAct is an ISO 9001:2000 certified company. For more information, please visit www.interact911.com.   

About Foundation Capital
Founded in 1995, Foundation Capital is a venture capital firm committed to supporting entrepreneurs and their companies, targeting innovative opportunities in cleantech, consumer Internet and infrastructure; telecommunications and networking; and enterprise software and on demand services. Foundation Capital funds total more than $2.4 billion. For more information, visit www.foundationcapital.com.

About Bay Partners
Bay Partners, LLC is a leading venture capital firm located in Silicon Valley. The firm has been building successful technology companies since 1976, funding over 300 startups. Bay leverages the operating background of its partners and its extensive network of executives and advisors to help outstanding entrepreneurs create the leaders in new high-growth market segments. Notable successes from Bay’s portfolio include Brocade, Concord Communications, Digital Island, Exodus, Sonicwall, Placeware, Informatica, Web Logic (BEA) and NetScaler. Bay has over $1 billion under management. For more information, please visit www.baypartners.com.

About SilkRoad Equity
SilkRoad Equity is a private investment firm founded by Andrew J. “Flip” Filipowski and Matthew Roszak. SilkRoad Equity targets investments in the areas of technology, life sciences, media and entertainment and real estate, and is comprised of a portfolio of companies that includes: Barefoot Landing, Cryo-Cell International, House of Blues, InterAct911, Mastro Auctions, MissionMode Solutions, onramp Branding, Pendulab, Primo Water, Rakote, SilkRoad technology, SolidSpace, TrueSystems and Viwawa. For more information, visit www.silkroadequity.com.

SILKROAD TECHNOLOGY ACQUIRES ENTERPRISE LEARNING MANAGEMENT COMPANY

SilkRoad continues to expand its platform with a key acquisition in the learning management sector…Best,

Matthew Roszak

Winston-Salem, N.C. – (November 03, 2008) – SilkRoad technology, inc., a leading provider of talent management solutions, hasacquired VTN Technologies, Inc., the software-based training innovation firm  known for its Olé Online Learning Environment.  The announcement was made by Andrew J. “Flip” Filipowski, chairman, president and CEO of SilkRoad technology.  Financial terms of the transaction were not disclosed.   VTN’s Olé is a Web-based learning environment with more than 400,000 subscribed users across world-class client organizations including DirecTV and Rockwell Collins.  Olé reduces training costs by automating learning development and management processes.  The popular online learning environment product will be integrated into SilkRoad’s Life Suite under the new brand name GreenLight. “During these challenging times, companies have to accomplish more with less,” said Filipowski.  “The Life Suite from SilkRoad greatly contributes to cutting millions in costs, while helping HR departments maintain a positive culture and enable employees to perform at the peak of their capabilities.  Adding the VTN Olé Learning Environment to the SilkRoad Life Suite adds another critical component to the tools HR departments need to get the most out of their enterprises’ human resources.  One of SilkRoad’s most successful products, WingSpan, provides for performance management, succession planning and compensation strategies.  The VTN Olé Online Learning Environment will work hand in glove with WingSpan to provide a framework in which critical skills can be added to an employee’s ability to advance, become certified in a vital discipline and accomplish more than expected.” Today’s VTN acquisition announcement reconfirms the trio of initiatives that SilkRoad technology set forth in May 2008 after closing a $54 million round of equity financing.  Since the funding announcement, SilkRoad has invested extensively in internal product development, significantly expanded its worldwide direct sales footprint by opening offices in Singapore and Sydney in September, and has now made a strategic acquisition to accelerate the extension of its product line. “In our recent study on learning and development, 52% of Best-in-Class organizations had not only integrated their learning and development strategy with their organization’s overall strategy, but also had integrated it with their organization’s talent management strategy.  For these organizations, learning is a critical component of both pre-hire and post-hire talent management initiatives,” said Kevin Martin, vice president and principal analyst for human capital management at Aberdeen Group.  “Learning is essential to an individual’s professional development and integral to end-to-end talent management and this acquisition by SilkRoad rounds out its Life Suite.” Following the close of the transaction, VTN’s senior management team will take up positions with SilkRoad, and the company will maintain offices in VTN’s Edmonton, Alberta base of operations. “By joining forces with SilkRoad, we are in the enviable position of contributing to an industry leading organization that is truly forward-thinking,” said George Uhrich, CEO, VTN Technologies, Inc.  “The combined strengths of our learning platform and SilkRoad’s Life Suite offer an unparalleled package of solutions, and we are excited about the tremendous opportunities that lie ahead and look forward to the benefits this will bring to the industry.”