Venture Atlanta 2011 Startups – Day 2 – David Cummings on Startups

The second day of Venture Atlanta was as exciting as the first. As expected, the startups were more mature and many had already raised institutional money. Here’s a quick run-down of the companies (I didn’t get to hear the second half so there aren’t as many details).

SimpleC

In-room multi media display
Content delivered by SaaS app
Helps elderly live their lives at home
$183B/year spent on dementia services
No cure for dementia
Currently have 10 operators and 20 communities
Raised $3M
Raising $2.8M

SalesFusion

200 paying customers
Integrates with SFDC, MS Dynamics, SugarCRM, Sage, Saleslogix
$9B market by 2015 (Forrester)
2-3% of market is penetrated
$1M in rev in 2011
$1.3M run rate
$15,000 in new MRR each month
60 new clients since July
40% of revenue derived from channel partners outside the U.S.
Raising $2M for sales
Goal of $40M by 2015

Racemi

Goal to use existing virtualized server images and migrate them into the cloud
Moving a complex app to the cloud can take 12 months
Sold direct and indirect
1200% growth this year
Raising $7M for sales and marketing expansion as well as product dev to connect the top 50 clouds globally

VersionOne

95 employees
Approx $15M in revenue in 2011
Management software for agile software development
900 customers
25 of Fortune 100
Salesforce.com for Software Organizations
Raising $10M – $12M for expansion, including international

Mobile Active Defense

Data confidentiality, integrity, and assurance for the enterprise
Security software for the smartphone and tablet enterprise
Solution is a cloud-based proxy server that monitors data going to and from the smartphones and tablets
ASP of $70 – $100 per device / year
Expected to do $3M in 2012
Raising $4M to expand R&D, sales, and marketing

Wahoo Fitness

Intersection of smartphone and fitness market
App-enabled accessory that connects wirelessly to smartphone
Connect smartphones to fitness sensors
Previous challenge was getting data from the disparate sources
Platform for the fitness industry
$3.2M in revenue in 2011
Raising $1M

Velocity Medical Solutions

Cancer imaging software
$2.8M in revenue in 2011
FDA cleared
Helps improve patient care, reduce cost of therapy
Started with radiation oncology and will expand to other oncologies eventually
Raising $2M

Contact At Once

Industry specific SaaS chat software
$6.3M in revenues in 2011
Currently work with top online advertisers in car vertical
Goal is to expand to the 9,000 car dealers
Other vertical is apartment rentals
General idea is that live chat converts better than phone numbers and forms on websites
Raised $1.6M
Raising $5M

Skitter

Work with telephone company to provide paid TV service to their current subscribers
10 year agreements
Provide equipment and service to the customer
10 employees
Self-funded
Charge $45/month to consumers for the service
Raising $4M

Vertical Acuity