February 2012
Portfolio Monitor

Dear Longworth Friend,


In this New Year edition of the Longworth Monitor, we wish you much health and prosperity in 2012. We're pleased to report that we closed out 2011 with two successful transactions - an M&A event for VKernel and a growth capital financing round for uTest.


Portfolio Company ExitNewPortfolios
Quest Software Acquires VKernel
VKernel Logo

In November 2011, VKernel was acquired by Quest Software, a publicly traded provider of enterprise systems management software products. We first invested in VKernel in April 2009, leading the Series B round, when the Company had less than a million in TTM revenue. With strong management and sales execution, the Company grew 10x in less than three years to become a leader in the virtual server tools space. We are excited with the outcome of VKernel and congratulate CEO Doug McNary and the entire VKernel team.

Follow-on FinancingAwards
uTest Raises Successful Follow-on Round


With 250% year over year revenue growth since 2008 and a large market opportunity fueled by the many apps being written for platforms like the iPhone, iPad, Android, Salesforce.com and others, uTest closed on a successful $17 million Series D round led by new investor QuestmarkPartners. Longworth and other existing investors participated in this round, which was at a sharp increase in value from the prior round. Longworth previously led uTest's first institutional round of financing in 2008.


Portfolio Company NotesCompanyNotes
Mobiquity - a Hot Startup To Watch in 2012
 Mobiquity Logo
As a company "that stood out for their potential to deliver game-changing innovations", Mobiquity was named as one of Computerworld's Nine Hot Technology Startups To Watch in 2012.


Since its founding in early 2011 when Longworth led its Series A round, Mobiquity has grown to be the mobile services leader designing, building, deploying and managing enterprise-class mobile solutions.



PowerInbox highlighted on TechCrunch


PowerInbox - the Company that brings the interactivity of apps directly into your email - was recently highlighted by TechCrunch. Imagine commenting on a Facebook post, changing your seat assignment on your next airline flight, re-bidding in an eBay auction, and now responding to Google+ notifications - all inside your email. PowerInbox is the solution and it's free to download

About Longworth 

Longworth Venture Partners, based in Waltham, MA, is an early stage venture capital firm investing in high growth, innovative companies in Internet, digital media and software.


Founded in 1999, Longworth leverages the deep operating experience of its principals and its market-driven research process to identify and help grow the leading companies of tomorrow.

In This Issue
Portfolio Company Exit
Follow-on Financing
Portfolio Company Notes
Featured Portfolio Companies 

VKernel, Inc.

uTest, Inc.

Mobiquity, Inc.

PowerInbox, Inc.

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