Velobit is developing software to deliver faster storage performance for data-intensive applications. Founded by industry veterans Duncan McCallum (founder of Cilk Arts) and Dr. Qing Yang (Distinguished Engineering Professor of College of Engineering at University of Rhode Island), Velobit's solution will deliver up to a 10x performance improvement for existing SSD storage.
Longworth led Velobit's Series A round. Fairhaven Capital joined Longworth in this financing.
Longworth Leads Series A Round In Mobiquity
Mobiquity is capitalizing on the explosion of mobile devices in the enterprise. Founders Bill Seibel (CEO of Demantra and Zefer, EVP of Cambridge Technology Partners) and Dr. Scott Snyder (Strategic Planning and Technology Management at GE, Martin Marietta, Lockheed Martin; Senior Fellow in the Management Department at the Wharton School, Adjunct Faculty Member in the School of Engineering and Applied Science at the University of Pennsylvania) will lead Mobiquity as it provides Global 2000 organizations with a range of services to conceive, execute and deliver mobile computing solutions.
Longworth led Mobiquity's $5 million Series A round with Sigma Partners.
Seed Investment in Fliptop
As consumers spend more time on social networks, marketers need to gather and maintain social marketing contact information. Founded by Doug Camplejohn (CEO/Founder of Mi5 and MyPlay, VP Marketing at E.piphany, Product Manager at Apple), Fliptop aggregates and matches social data with traditional customer list data to create smarter, more actionable customer information.
Longworth invested as part of Fliptop's seed financing.
Portfolio Company Sale
iJET acquired by 3i-Mind
Longworth portfolio company iJET International, a leading provider of intelligence-driven business resiliency and risk management solutions, announced its successful sale to 3i-Mind. The acquisition of iJET combines 3i-Mind's products, technology and global reach with iJET's risk management and proven intelligence solutions. We wish Steve Hoffman and the entire iJET team continued great success.
Portfolio Company Notes
uTest Named Red Herring Global 100 Winner
For its rapid revenue growth, list of elite customers, and crowdsourced model for testing web and mobile applications, uTest was named a winner of the Red Herring Global 100 award. This was announced in January 2011 and honors the fastest growing and most innovative 100 private companies in the world. Past winners include Google, Skype, Salesforce.com and YouTube.
NimbusDB's Cloud Database Gaining Traction
Cloud computing places unique demands on databases. NimbusDB's pioneering product will address these challenges and the Company's initial beta product should hit the market soon.