Paydiant is proud to have the confidence and investment of two of the most prestigious and successful venture capital firms in New England.
North Bridge Venture Partners
North Bridge Venture Partners is an active, bi-coastal, early-stage venture capital firm based in Boston, Massachusetts and San Mateo, California. Established in 1994, North Bridge provides seed-to-growth financing and company-building expertise. Together with North Bridge Growth Equity, its mid-market focused growth capital fund, North Bridge manages over $3 billion. For North Bridge Venture Partners, success is derived through a partnership with entrepreneurs who produce industry-leading companies in large emerging markets. Historically, the firm's partners have played a significant role in organizing, starting and building successful companies. Working in concert with entrepreneurs, North Bridge adds value by providing strategic guidance, sharing operating experience, industry specific knowledge, team-building skills and an in-depth understanding of both private and public financing. North Bridge's sector focus includes Software, Communications & Infrastructure, Healthcare Technology, Digital Media, and Materials. For more information about North Bridge, go to www.northbridge.com.
Paydiant Board Member Jim Moran
Jim Moran joined North Bridge Venture Partners in mid-2009. Prior to joining North Bridge, Jim was Chief Executive Officer of Covergence Networks, a developer of leading edge software-based session border controllers and Unified Communications applications to global 1000 enterprises. Jim successfully engineered the acquisition of Covergence by Acme Packet (NASDAQ:APKT) in May of 2009, which yielded a 6X return to investors in the subsequent 12 months. Prior to Covergence, Jim was a co-Founder of edocs, Inc which became the leading provider of web self-service and online billing & payment solutions to the Fortune 500. The edocs platform remains in production today and moves billions of dollars for millions of consumers each month. Customers included General Electric, American Express, Verizon, Humana, and British Telecom. edocs was a multi-year member of both the Inc. 500 and the Deloitte & Touché Fast 50 before it was sold for $145 million in 2005 to Siebel Systems which was later acquired by Oracle. Additionally, Jim was an early investor, board member & Chief Operating Officer of Virtusa (NASDAQ:VRTU) which grew from a standstill in 1998 to a global leader of information technology services and over $175 million in revenues.
Prior to his entrepreneurial career, Jim was Senior Vice President of Sales at CheckFree Corporation where he played a key role in growing revenues from approximately $25 million to over $250 million leading to a successful IPO in 1996. Prior to CheckFree Jim held various sales positions at EMC, XL/Datacomp and Software 2000.
Jim received his Bachelor of Arts in Communications from Northeastern University in 1987. Prior boards include Big Brothers Big Sisters of Central Ohio, BankFirst National (NASDAQ:BFOH), edocs, Virtusa (Nasdaq:VRTU), Covergence, and County Savings Bank. Jim is a Founding Member of the Ohio Tech Angels.
General Catalyst Partners
General Catalyst Partners is a venture capital firm that invests in exceptional entrepreneurs who are building the technology-based companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals' extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass. For more information, please visit: www.generalcatalyst.com.
Paydiant Board Member John Simon
As a Managing Director and Co-founder of General Catalyst Partners, John invests in both new and existing technology businesses. Special areas of interest include mission critical enterprise software applications and subsystems, software-based connectivity platforms with an emphasis on wireless, and disruptive technology companies with an emphasis on robotics and healthcare.
Before co-founding General Catalyst Partners, John was Founder, Chairman and CEO of UroMed Corporation. UroMed completed its initial public offering in 1994 and was subsequently merged to form Alliant Medical Technologies. Prior to founding UroMed, he led marketing and sales at Adaptive Networks and was a venture capitalist with Highland Capital Partners and Charles River Ventures.
John is a member of the Young Presidents' Organization (YPO). He's a Co-founder and current trustee of The Steppingstone Foundation, a non-profit organization that provides educational opportunities to deserving inner-city students. In addition, he's continued his involvement with the non-profit sector by founding the GreenLight Fund (www.greenlightfund.org), which spurs the replication and growth of innovative non-profits.
John is a graduate of Harvard University, earning a B.A. in History and Science and Oxford University, where he was a Rhodes Scholar and received his M.A. in Politics, Philosophy and Economics.
Stage 1 Ventures
Stage 1 Ventures is an early stage venture capital firm that is seeking to build partnerships with great entrepreneurs that are flexible and who want to build meaningful companies. We want to assist you with our global network of relationships as well as provide the capital you need to fuel the growth of your company. For more information, please visit www.stage1ventures.com.
Paydiant Board Member David Baum
David is an experienced general partner with 25 years in the information technology industry, including fifteen years in technology finance and ten years in entrepreneurial operating management roles.
As an operating entrepreneur, David founded Pensoft Corporation, a venture-backed (Mohr, Davidow Ventures, IVP, and Bay Partners) mobile communications company that was sold to AT&T in 1994. David has also spent time at larger organizations including IBM and Genentech.
David was a key principal who raised, launched, staffed, and managed Prism Venture Partners, a leading early stage venture capital fund. Founded in 1996, Prism has provided start-up equity to more than eighty-five companies, which have completed five public offerings and thirty strategic mergers and acquisitions. During his tenure at Prism, the firm grew from zero to over $1.25B under management. Previous investments include Softricity (sold to Microsoft), Network24 Communications (sold to Akamai), DotBank (sold to Yahoo), Altaworks (sold to Opnet), Integral Access (sold to Telco Systems), Syncra Systems (sold to Retek), Salesnet (sold to RightNow) and Bitfone (sold to HP).
In January of 2006, David launched Stage 1 Ventures, which has backed companies such as Carbonite (IPO 2011 NASDAQ:CARB), e-Centives (sold to Catalina), Skyhook Wireless, AdelaVoice, Innerpass, Instream, OwnerIQ, Veloxum, Paydiant, XPeerient, Delfigo Security, Wing Power, Phantom Alert, TimeTrade, OwnerIQ, Zapoint, OnePin, Myxer, Cuesol (sold to MobileLime), Magnify Media, go2 (merged with 80108), FrameMedia (sold to Scala!), Auspice (sold to Arris), WorldWinner (sold to Liberty Media), Banshee Wines, and Zink.
As a twelve year member of Common Angels, David is an active angel investor (26 angel investments) and a strong supporter of entrepreneurs across the country.
In June of 2010, David launched S1 Capital Partners, a later stage secondary/growth equity investment vehicle, with Rod Randall. S1 Capital made its first investment into YMAX, Corp, a leading CLEC/VOIP provider in North America and creators of the MagicJack-branded consumer service offering. YMAX went public (NASDAQ:CALL) later in 2010 by purchasing VocalTec, a leading softswitch provider.
David holds an MBA from the Harvard Business School with second year honors and a BS in Computer Science from Drexel University where he graduated first in his science class.
David’s investment areas of focus are: mobile applications and systems, consumer and business cloud-based applications, content and gaming, IPTV, virtualization, e-commerce, location based services, security, and data communications equipment.