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Robin Hood Ventures invests in Aklero
Round Funds expansion
Wayne, PA - February 4, 2008- Aklero Process Solutions, Inc. has closed a Series A financing round with investors Robin Hood Ventures and Glenville Capital Partners. Ben Franklin Technology Partners is also participating in funding of the company at this time through a related transaction. Aklero provides loan deficiency detection solutions for the mortgage lending industry. Aklero will use the funding to expand the reach of its business in a mortgage industry environment that has created a dramatic need for Aklero's services.
According to board member George Marks, co-founder of Robin Hood Ventures, "We believe that Aklero is very well-positioned to address a myriad of quality and timing issues relating to the current challenges in the mortgage market. We are delighted to be working with such a seasoned team of entrepreneurs with deep domain expertise and a history of success."
"We are very excited that Robin Hood Ventures is a part of the Aklero investment team," said Brett M. Amdur, President and CEO of Aklero. "Working with Robin Hood means that we have access to the vast wealth of business experience that their principals bring. We know that Robin Hood will play a big role in helping Aklero grow effectively. |
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About Aklero Process Solutions, Inc.
Aklero provides loan deficiency detection solutions for the mortgage lending industry. Aklero's systems use technology and sophisticated processing to identify and cure mortgage loan problems in a manner that is far more efficient than traditional loan evaluation. Mortgage lenders and investors who use Aklero get cleaner loans faster and at less cost.
Website: http://www.aklero.com |
About Robin Hood Ventures
Robin Hood focuses on investing in early stage companies located in the Mid-Atlantic region. Portfolio companies include Aklero, Protez Pharmaceuticals, Bioconnect Systems, Intellifit, Paradigm Spine, Glucolight, Patria, Athleague, GlobalPrint, Power Medical Interventions (PMII), Compoze (acquired by BEA), and Etech Solutions, Inc., (Acquired by Perficient - PRFT) . As of January 2008, Robin Hood has invested approximately $7.1 MM in 20 companies.
Website: http://www.robinhoodventures.com |
About Ben Franklin Technology Partners of Southeastern Pennsylvania
For 25 years, Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has served as a catalyst for stimulating entrepreneurial potential by developing systems to accelerate the transition of scientific discovery and technology development to commercialization. Part of a statewide network in Pennsylvania, BFTP/SEP provides entrepreneurs and established businesses with the Capital, Knowledge and Networks they need to compete in the global marketplace. BFTP/SEP has provided more than $130 million to grow more than 1,600 regional enterprises.
Website: http://www.sep.benfranklin.org
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Aklero
Brett Amdur
President and CEO
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Robin Hood Ventures
Ellen Weber
Executive Director
610-993-9060 |
Ben Franklin Technology Partners
Alan R. Kraus
Sr. Director, Investment Group
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