Icon News

The latest from inside Icon and our portfolio companies.


2016: The year VC investors return to capital efficiency

For seasoned venture capitalists, the last few years have been hard to watch. Much as we love boom markets and the positive impact they have on our portfolios, we’ve had to bear witness to the erosion of some core principles that are at the essence of the value creation process.    

New York Business Journal

Yodle agrees to $342M takeover offer from Web.com

PE Hub

Icon Ventures appoints Mullany as General Partner



Area 1 Security Named a Cool Vendor in Security Threat Intelligence by Gartner

Area 1 Security, a cybersecurity company dedicated to eliminating targeted phishing attacks, today announced it has been included in the 2016 Cool Vendors in Security Threat Intelligence Services report by Gartner, Inc. Gartner grants the Cool Vendor recognition annually to emerging vendors that are breaking new ground in their industry with disruptive and innovative new technology.



Mercer renews Teladoc as a preferred telehealth provider

Teladoc, Inc. (NYSE: TDOC), the nation’s first and largest telehealth provider, announced it has been selected again by Mercer as a preferred provider following a comprehensive six-month review of telehealth providers. The three-year renewal ensures that Mercer’s health benefits consulting teams, clients and prospective customers nationally have access to Teladoc’s sophisticated technology platform, spectrum of telehealth services, including behavioral health and dermatology, and health care provider networks.

“For the past three years, Teladoc has provided valuable telehealth services and meaningful ROI’s to our clients and their employees,” said Cheryl Mealey, Principal and Mercer’s Telehealth leader. “Together, we have successfully brought traditional primary care telehealth services and other innovative solutions to shared clients and prospective customers. Renewing our relationship just made sense.”

Since 2012, Teladoc and Mercer have enjoyed a preferred provider relationship that has offered telehealth services to more than 700,000 people through a variety of clients including Fortune 500 and Fortune 1000 companies.

“We are thrilled Mercer chose us again to be a preferred telehealth provider for their consultants and clients,” said Mike King, Teladoc chief sales officer. “Mercer is a respected leader in health care benefits consulting and the opportunity to continue our collaboration with Mercer reinforces the strength of our existing relationship and the increased interest from Mercer employer clients in the value of telehealth offerings.”



Teladoc selected by Willis Towers Watson as a preferred provider of telehealth services

Teladoc, Inc. (NYSE: TDOC), the nation’s first and largest telehealth provider, announced that it has been chosen by leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW), as a preferred provider following a comprehensive review. A new three-year agreement extends relationships that have been in place since 2012 with the legacy Willis and Towers Watson organizations prior to the merger of those firms.

“We’re pleased that Willis Towers Watson has recognized Teladoc’s breadth of services, proven ROI and quality standards,” said Mike King, Teladoc chief sales officer. “Our collaboration has resulted in bringing telehealth services to more than a half million lives and we look forward to continued success in delivering our value proposition to even more organizations and people.” “Teladoc offers a national network and scalable technology that can meet the needs of any size or type of organization,” said Allan Khoury, M.D., Ph.D., a Willis Towers Watson senior health management consultant and national telemedicine practice leader. “As a pioneer in the category, Teladoc has been committed to breaking down the barriers to implementing telehealth, and together we will continue to educate the marketplace about its value and benefits.”



Frost & Sullivan honors Teladoc with Product Line Strategy Leadership Award for Virtual Telemedicine Services

Teladoc, Inc. (NYSE: TDOC), the nation’s first and largest telehealth provider, announced the company has been honored with Frost & Sullivan’s 2016 Product Line Strategy Leadership Award for Virtual Telemedicine Services.

“We are honored that Frost & Sullivan has recognized Teladoc’s leadership in virtual health and the quality and strength of our innovative product line and customer impact,” said Jason Gorevic, Teladoc chief executive officer. “Frost & Sullivan’s findings that Teladoc has showcased best practices in its product mix and strategy aimed at achieving national scale is an honor we take seriously.”

“Teladoc stands alone in the virtual telemedicine segment as building true national scale and also as the pioneer in breaking down barriers to implementing quality telehealth,” said Victor Camlek, principal analyst for Telehealth of Frost & Sullivan. “While many companies are operating within the telehealth space, Teladoc has demonstrated a national scale and multi-faceted product strategy based on a strong business model that has been marked by introducing products aimed at addressing various identified healthcare consumer needs. Because of its strong overall performance, Teladoc has earned Frost & Sullivan’s 2016 Product Line Strategy Award.”

According to analysis from Frost & Sullivan (details available here), Teladoc scored a perfect 10 out of 10 points in Frost & Sullivan’s customized Decision Support Scorecard, besting its nearest competitors in product line strength criteria including breadth, scalability, technology leverage, and features, and customer impact criteria such as price/performance value, customer experience, and brand equity.

The Frost & Sullivan analysis points out that Teladoc is the most widely used service of its kind, offering broader national presence than its competitors, and has strong name recognition. In contrast, competitors have been hampered by the lack of a national presence, the goal to offer too high a percentage of costly video services, or limited range of coverage. The analysis from Frost & Sullivan also notes that Teladoc has developed a well-defined price/performance scenario, with measureable ROI and a strong customer engagement capability.



Delphix Appoints Chris Cook as President and CEO

Delphix, the market leader in data virtualization, today announced the appointment of Chris Cook as president and chief executive officer and a member of the board of directors. Founding CEO Jedidiah Yueh will transition to executive chairman and focus on continued innovation in the Delphix platform, strategy, vision, and key customer and partner relationships.

Cook joins Delphix at a time of accelerating company growth as customers continue to realize the benefits of fast data for improving application development and analytics:

  • Delphix increased revenue by more than 70 percent over the prior year in its most recent fiscal year.
  • New customer acquisition increased by 66 percent during the same period, with more than 30 percent of the Global 500 as customers across all major industries, including financial services, healthcare, and government.
  • Delphix continues to expand operations globally with over 400 employees, serving customers in over 30 countries on all continents.
  • Delphix recently released 5.0, the next major evolution of its flagship product, enabling customers to easily secure and mask sensitive data before migration to the cloud, and extending the platform to IBM DB2 databases and multi-node Oracle EBS deployments.

“Although we’ve grown quickly over the last seven years, we’ve only scratched the surface of the opportunity. Continuing to scale at this level really becomes a matter of talent,” said Yueh. “Over the last few decades, Chris Cook has established a reputation as one of the top operating executives in the software industry, and we’re looking forward to having him lead our team.”

In a shared statement, Asheem Chandna and Chris Schaepe, members of the board of directors at Delphix, and partners at Greylock Partners and Lightspeed Venture Partners, respectively, said, “Delphix has established itself as the market leader in data virtualization. Chris Cook is a world-class leader and brings over two decades of enterprise experience to Delphix. We are delighted to welcome Chris to the company and look forward to seeing Delphix scale significantly under his leadership.”

Chris Cook is a veteran technology executive with more than 25 years of experience in the enterprise software industry. Most recently, Cook served as president and chief operating officer of New Relic, a software analytics leader, where he spent over four years scaling the company’s operations, leading to a successful IPO in 2014. Prior to New Relic, Cook spent four years as corporate senior vice president and general manager of CA Technologies’ application performance management division and held sales leadership positions at Quest Software and BMC Software.

“When you walk into Delphix, you see the customer logos on the wall – a who’s who list of companies that would be the envy of any enterprise software company at this stage,” said Cook. “But when you peek under the covers and see the renewal and expansion rates – that’s when you really see the power of data virtualization and the potential for Delphix to be a very large company.”

Cook added, “As applications and data become increasingly critical components of business success, the ability to safely and rapidly access the right data at the right time by the right people becomes a competitive advantage for any company. Delphix’s groundbreaking data virtualization technology delivers on this promise and is well positioned for expansion.”

About Delphix

Delphix is the market leader in data virtualization, helping organizations release applications up to 10x faster by delivering secure, virtualized data across the application lifecycle. More than 30 percent of the Global 500 use Delphix software to deliver data across development, testing and reporting environments, improving developer productivity and data security on premises or in the cloud. Delphix is headquartered in Menlo Park, California, with offices around the world, and can be found online atwww.delphix.com.



Duetto Expands its Managed Services Team

Duetto, the market leader in hotel and casino profit optimization technology, announced that it has appointed three professionals to expand its Managed Services team:

  •             Michael Klein – Director of Managed Services, New York
  •             Daniel Lofton – Associate Director of Casino Services, Houston
  •             Gabriela Guevara – Senior Manager of Managed Services, New York

The moves were spurred by the accelerated worldwide growth in the company’s Managed Services portfolio: Dozens of leading hotels and casinos in major markets like New York, San Francisco, Miami and Las Vegas have partnered with Duetto to elevate their Revenue Strategy.

Alongside its hotel and casino profit optimization software-as-a-service applications, Duetto Managed Services provides hotel and casino customers around the world the opportunity to leverage the team’s deep industry experience for consulting and outsourcing services.

“We are proud to welcome these new team members to Duetto,” said Patrick Bosworth, CEO and Co-Founder. “The pace of change in the hotel marketplace continues to intensify, and as a result more and more hotels and casinos are embracing Duetto’s technology and Open Pricing as the future of Revenue Strategy. Our Managed Services team has become an important partner in helping many of them address today’s unique challenges and opportunities to optimally revenue manage their properties.”

Duetto’s Managed Service program allows hotels to benefit from hands on revenue management expertise provided by a world class Managed Service team — a feature unique to Duetto’s offering, which cannot be found elsewhere in the industry. Duetto’s Managed Success team has decades of property and corporate level experience at some of the biggest companies around the world, including Hilton, Starwood, Fairmont, Caesars, Wynn, Pinnacle Entertainment, Golden Nugget and Resorts Casino in Atlantic City, to name a few.

About Michael Klein

Michael Klein brings more than a decade of management experience in hotel, travel and entertainment revenue management and analytics. He joined Duetto from Starwood Hotels & Resorts Worldwide Inc., where he served as Associate Director, Revenue Analytics. He also served as Director of Revenue Analytics or Director of Revenue Management at the Waldorf Astoria, New York, The Fairmont Orchid, Hawaii, and the Fairmont Newport Beach, California, and the Fairmont Heritage Place, Ghirardelli Square. He earned a Bachelor of Science in Hotel Administration, University of Nevada-Las Vegas.

About Daniel Lofton

Daniel Lofton joins Duetto with deep experience in revenue management at hotels such as the Golden Nugget Lake Charles Hotels and the Westin Houston Downtown. He has also worked in the mid-market segment of the hotel industry and has experience in the development and implementation of significant technologies in the hotel space. He earned a Bachelor of Science in Hotel & Restaurant Management from the Conrad Hilton College in Houston.

About Gabriela Guevara

Gabriela Guevara comes to Duetto with management experience in revenue management at Hilton Worldwide. At Hilton, she supported several high profile properties as a Revenue Manager and Revenue Analyst. She has a Bachelor of Applied Science in Hospitality Administration/Management from New York University.

About Duetto

Duetto delivers the most powerful revenue strategy solutions to the world’s leading hotels and casinos, allowing them to better manage pricing, revenue and business-mix decisions with superior, actionable data.

The unique combination of hospitality experience and technology leadership enables Duetto to provide new insights on pricing and demand as a true cloud-based software-as-a-service. With solutions that address the challenges of today’s distribution landscape, Duetto’s applications are a GameChanger — optimizing profit and guest loyalty.

More than 1,000 hotels and casinos in more than 50 countries have partnered to use Duetto’s revenue strategy solutions.



Teladoc exceeds guidance on first quarter 2016 visits

Teladoc, Inc. (NYSE: TDOC), the leading telehealth platform in the United States, is pleased to announce that it completed approximately 240,000 visits in the first quarter of 2016, an increase of 61 percent compared to the approximately 149,000 visits completed in the first quarter of 2015. This number surpasses the previously issued guidance on March 2, 2016 that projected total visits to be between 220,000 – 230,000.

About Teladoc

Teladoc, Inc. (NYSE: TDOC) is the nation’s first and largest telehealth platform, delivering on-demand health care anytime, from almost anywhere via mobile devices, the Internet, secure video and phone. Teladoc provides consumers with access to its network of more than 3,100 board-certified, state-licensed physicians and behavioral health professionals who provide care for a wide range of non-emergency conditions. With a median response time of less than 10 minutes, Teladoc physicians performed over 575,000 telehealth visits in 2015. Teladoc and its physicians consistently earn a 95 percent member satisfaction rating or better, and Teladoc is the first telehealth provider to be certified by the National Committee for Quality Assurance (NCQA) for its physician credentialing process.

Recognized in June 2015 by MIT Technology Review as one of the “50 Smartest Companies,” Teladoc works with health plans, employers, organizations and individuals to provide access to affordable, high-quality health care on-demand. Teladoc is transforming the access, cost and quality dynamics of health care delivery. For more information, please visit teladoc.com, twitter.com/teladoc, facebook.com/teladoc or linkedin.com/teladoc.



RedSeal Named to JMP Securities’ Fast 50 List for Second Year in a Row

RedSeal (redseal.co), the cybersecurity analytics company, has been named to the JMP Securities Fast 50 list of hottest privately held Internet Security, Storage and Networking companies for the second year in a row. The list recognizes the most strategically placed private companies that have the capability to dominate their respective markets.

Due to the recent market turbulence and increased investor focus on profitability, the JMP Securities Fast 50 list reflects the companies that are developing foundations built on strong operational prowess and prudent cost management. The companies are also recognized for leveraging powerful technological advantages to disrupt traditional business models and for their sustainable technological differentiation.

“We’re honored to be recognized by JMP Securities for the second year in a row,” said Ray Rothrock, Chairman and CEO of RedSeal. “RedSeal is uniquely positioned to help organizations actively manage their networks and improve their digital resilience. Our security analytics platform builds an accurate, up-to-date model of an organization’s entire, as-built network, including cloud and virtual networks. It helps organizations visualize access paths, prioritize what to fix, and respond quickly to incidents.”

Digital resilience is a system’s ability to operate through impairment, minimizing customer harm, reputational damage and financial loss. The RedSeal platform delivers an added level of resilience and preparedness in the fight against cybersecurity attacks.

“The RedSeal Digital Resilience Score is an integral part of our security analytics platform. It gives decision makers and C-Suite executives an easy to understand metric so they can make informed decisions and allocate scarce human and capital resources where they have the biggest impact to protect their most valuable digital assets,” Rothrock said.
With RedSeal’s platform, customers can understand and monitor their networks; verify policy compliance; and accelerate their incident response. More than 220 global corporations and government agencies depend on RedSeal’s sophisticated security platform.

JMP Group LLC is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients as well as alternative asset management products to institutional and high-net-worth investors.



Moovweb Teams Up with Demandware to Accelerate Mobile Commerce Innovation

Moovweb, the pioneer in powering engaging mobile experiences for the world’s leading brands, today announced it can provide Demandware clients a frictionless mobile checkout flow, enabling them to increase mobile conversion rates, increase revenues per visit and improve overall consumer mobile engagement.

MoovCheckout includes two components: Catalyst and Business Manager. MoovCheckout Catalyst is focused on optimizing the mobile checkout flow to increase conversion rates and reduce cart abandonment rate. Catalyst instantly transforms an existing checkout flow, applying mobile checkout best practices based on data from over 300 mobile experiences and leading research about mobile eCommerce usability.

The other component is MoovCheckout Business Manager, an online dashboard that provides commerce leaders with detailed analytics to better understand the root of cart abandonments. Business users can measure key eCommerce metrics such as conversion rate, field abandonment rate and time spent per field. MoovCheckout Business Manager also gives business users the ability to quickly create and test custom checkout experiences through a point-and-click interface.

The MoovCheckout LINK Cartridge facilitates the integration of MoovCheckout into a Demandware storefront. After MoovCheckout is installed into a Demandware storefront through the LINK Cartridge, business users can control and analyze checkout behavior through the MoovCheckout dashboard.

“MoovCheckout is a critical component of our mobile commerce strategy. With MoovCheckout we were able to increase our shopping cart conversions by over 20 percent. The ease of implementation and immediate impact on conversions makes MoovCheckout a must-have technology,” said Rachel Silva, AVP Marketing at Pep Boys.

“As mobile traffic continues to skyrocket, so do abandoned purchases, incomplete account registrations, and lost revenue,” said Haresh Kumar, vice president of Marketing at Moovweb. “Our MoovCheckout integration with Demandware enables existing customers to easily and quickly create seamless checkout experiences. Mobile and eCommerce leaders can gain key insights on why potential shoppers abandon carts and improve their checkout completion rates.”

“Retail brands are under constant pressure to maximize the conversion, unlock revenue generating opportunities and gain customer insights. With the Moovweb integration, Demandware clients have access to another cutting-edge solution that can be quickly and cost-effectively integrated into the Demandware Commerce Cloud as a part of the LINK network,” said Tom Griffin, senior vice president of corporate development at Demandware.

The Demandware LINK Partner Ecosystem is composed of hundreds of innovative and highly skilled technology and services partners who collectively deliver Demandware clients unprecedented levels of agility, choice, and speed-to-market.

Moovweb will also be showcasing MoovCheckout at the 2016 Demandware XChange Conference. For more information about the Moovweb Checkout Link Cartridge, visit: http://www.moovweb.com/demandware.

About Moovweb
Moovweb allows customers to transform their mobile or desktop sites into fast, engaging, high-conversion experiences. Whether a company is looking to increase checkout conversion rates, enhance product discovery and searchability or drive engagement and mobile app usage, Moovweb can scale to meet the range of those business needs. Over one third of mobile users in the United States engage with rich, contextual mobile experiences powered by Moovweb. Leading brands such as Nordstrom, AIG, Kaiser, Panasonic, McKesson, Fairmont, Campbell’s and many more use Moovweb to boost their mobile conversions. For more information, visit http://www.moovweb.com.



Exabeam Selected as Best Behaviour Analytics Finalist for the SC Magazine Awards 2016 Europe

Exabeam, the leader in user and entity behavior analytics (UEBA) for security, has been named a finalist in the SC Awards 2016 Europe for outstanding threat solution products in information security. The Exabeam User Behavior Analytics Platform is recognised in the Best Behaviour Analytics category, which acknowledges superior products and services that help customers address the most pressing cyber-security threats. The winners will be announced at the SC Magazine Awards Europe ceremony to be held in London on Tuesday 7th June at a stunning new venue on the Riverside of the Thames, Old Billingsgate.

The SC Magazine Awards Europe, are the information security industry’s most prominent recognition. Winners in the Threat Solution categories are decided by an expert panel of judges, hand-picked by SC Magazine UK’s editorial team for their breadth of knowledge and experience in the information security industry. The awards honour both the cyber-security professionals working in the trenches, and the products and services that help protect today’s corporate world from a myriad of ever-changing threats.“Today’s cybercriminals are using new tactics to rob corporate networks,” said Nir Polak, CEO of Exabeam. “We are honored to receive this award as it validates the need for emerging solutions, such as UBA, to shine the light on the myriad of attacks using valid account credentials – a method that has made cybercriminals nearly invisible to all security solutions.”

“Exabeam’s solution represents some of the most innovative and effective security technology on the market today,” said Tony Morbin, Editor in chief SC Magazine UK. “As attackers develop and practice new approaches to compromising sensitive information, companies are challenged to keep pace. The Exabeam User Behavior Analytics Platform was named an SC Award finalist for its efforts to raise the bar for the security industry.”

Winners of this year’s SC Magazine Awards Europe will be announced at a gala dinner and award ceremony on Tuesday 7th June at their new home, Old Billingsgate in central London. This is one of the most anticipated IT security events of the year and promises a great celebration as well as invaluable networking opportunities with some of the top corporate IT professionals in the country. To attend the awards, please visit scawardseurope.com for more information. Tickets can be purchased at an ‘Early Bird’ rate until midnight on Thursday 14th April.

About Exabeam
Exabeam’s user behavior analytics solution leverages existing log data to quickly detect advanced attacks, prioritize incidents and guide effective response. The company’s Stateful User Tracking™ automates the work of security analysts by resolving individual security events and behavioral anomalies into a complete attack chain. This dramatically reduces response times and uncovers attack impacts that would otherwise go unseen. Built by seasoned security experts and enterprise IT veterans from Imperva, ArcSight and Sumo Logic, Exabeam is headquartered in San Mateo, California and is privately funded by Aspect Ventures, Icon Ventures, Investor Shlomo Kramer and Norwest Venture Partners. Visit us on Facebook or Twitter and follow us on LinkedIn.

About SC Magazine UK
SC Magazine UK provides IT security professionals with in-depth and unbiased information through timely news, comprehensive analysis, cutting-edge features, contributions from thought leaders and the best, most extensive collection of product reviews in the business. By offering a consolidated view of IT security through independent product tests and well-researched editorial content that provides the contextual backdrop for how these IT security tools will address larger demands put on businesses today, SC Magazine UK enables IT security pros to make the right security decisions for their companies. Besides the quarterly print magazine, special Spotlight editions and daily website, the brand’s portfolio includes the SC Congress and Expo series (London, Amsterdam, New York, Chicago, Toronto), SC Awards, Roundtables, Webinars and SC Magazine Newswire.

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