Icon News

The latest from inside Icon and our portfolio companies.


Area 1 Security Announces $25.5 Million of Total Funding Led by Icon Ventures & Kleiner Perkins Caufield & Byers

Area 1 Security, a stealth cybersecurity company dedicated to eliminating targeted phishing and malicious social engineering attacks, today announced it has raised $15 million in a Series B funding round in recognition of significant product and customer momentum. The latest round brings Area 1 Security's total funding amount to $25.5 million and is led by Joe Horowitz at Icon Ventures and Ted Schlein at Kleiner Perkins Caufield & Byers (KPCB). "The security industry is passive and forensics oriented, leaving companies without opportunities to protect themselves," said Joe Horowitz, Managing General Partner, Icon Ventures. "Overwhelmingly, the root cause of attacks begins with socially engineered phishing. Area 1 Security uniquely identifies these threats prior to breach, but more importantly, gives enterprises a new way to change outcomes."

PE Hub

Icon Ventures appoints Mullany as General Partner


Teladoc Announces Launch of Initial Public Offering



Web.com Announces Agreement to Acquire Yodle

Web.com Group, Inc. (Nasdaq:WEB), a leading provider of Internet services and online marketing solutions for small businesses, today announced it has entered into a definitive agreement to acquire Yodle, a leader in local digital marketing, in an all cash transaction.

“The acquisition of Yodle is a natural complement to our strategy at Web.com. Value added digital marketing solutions are a large and fast growing portion of the market where Web.com has developed a differentiated set of offerings. This market segment has been a strategic focus for us for several years, and the purchase of Yodle will solidify our position as a leading national provider in this space. We are pleased to be gaining a company with a strong track record of developing and selling vertically focused solutions that help small businesses attract new business and retain existing customers through cloud based marketing platforms,” said David L. Brown, chairman, chief executive officer and president of Web.com.



Blackhawk Network Acquires NimbleCommerce

Blackhawk Network, a leading prepaid and payments network, announced today that it has acquired NimbleCommerce, a digital commerce platform and network for promotions. NimbleCommerce also allows merchants and brands to manage their own prepaid offer and gift card programs, or resell through a network of retailer and publisher branded sites.

“The NimbleCommerce offer network is an exciting compliment to the Blackhawk Network ecommerce portfolio,” said Talbott Roche, Blackhawk Network president. “NimbleCommerce will add to our existing offerings by providing merchants and retailers with more online distribution capabilities for gift cards and egifts, and will also provide consumers with additional prepaid brands and offers.”

The acquisition adds hundreds of new distribution points encompassing media outlets, deal websites and other publishers to Blackhawk’s ecommerce platform, and also adds thousands of merchants, including local and regional merchants, to Blackhawk global offerings.



RedSeal Reports Record Growth As Market Embraces Digital Resilience and Cybersecurity Preparedness

Commercial and government agency appetite for incident response propels adoption of RedSeal Cybersecurity Analytics Platform

RedSeal, the cybersecurity analytics company, today announced record 2015 sales growth and business momentum. Increased market realization that digital resilience and cyber security preparedness are now business critical strategies has been a key factor in increased adoption of the RedSeal analytics platform. The company achieved several milestones in 2015 including its highest year-over-year revenue growth, and record numbers of new customer acquisitions and customer renewals. In addition, all of these milestones helped drive positive cash flow for RedSeal for the last two quarters.

RedSeal achieved significant new customer acquisition, adding 59 new customers in 2015, including 15 federal agencies, counting among them the US Senate, USAF, US Navy, FEMA, and NASA. This past year the company also added a number of major box retailers, and leading brands in software, media, hospitality and services sectors. Federal business bookings grew 55 percent year-over-year and commercial bookings grew 83 percent in the last half of 2015 alone. The company sold 53,000 licenses in 2015. As well as new customer acquisition, RedSeal achieved its best year ever in customer confidence and continuity with renewal rates of 85 percent across all sectors and geographies.



Topgolf Acquires World Golf Tour, Launches New Media and International Divisions Plus Holding Company

Global golf entertainment leader Topgolf has acquired sports gaming company World Golf Tour (WGT), creating the world’s largest digital golf audience. In conjunction with the acquisition, Topgolf® is adding two new divisions and reorganizing its corporate structure with a holding company to support the organization’s rapid growth.

The deal represents a convergence of the offline and online golf experience. WGT is the leading web and mobile golf game, with more than 14 million players worldwide across online, social and mobile platforms. Topgolf has 24 venues worldwide and served 8 million guests in 2015. It is opening venues in Las Vegas and several other key markets in 2016, increasing its projected annual attendance to more than 12 million this year.



CloudPhysics Accelerates Momentum With Record 2015 Results

CloudPhysics, provider of data-driven insights for smarter IT, today announced record growth in 2015. The company’s success was fueled by mid-market customers looking for operational insights to preempt and eliminate hazards that threaten to disrupt their IT operations and applications.

“2015 has been our biggest year yet in terms of revenue and customer adoption as VMware users look to proactively plan, minimize risks and maximize both IT and infrastructure efficiencies,” said Jeff Hausman, CEO of CloudPhysics. “We thrive on innovating and continually reinvest in development so we can continue to delight our users.”



Exabeam Beats 2015 Sales Targets and Continues Momentum into 2016

Exabeam, the leader in user behavior analytics (UBA) for security, today announced that it finished 2015 at over 150 percent of sales targets and increased momentum heading into 2016. Gartner estimates that the UBA market will grow from $50 million in 2015 to approximately $200 million by the end of 2017, a CAGR of 100 percent. Exabeam expects to increase headcount by 100 percent and sales by 300 percent over 2015 results in the coming year.

“2015 was a big year for Exabeam. The company fired on all cylinders and it’s a very exciting time to be here,” said Nir Polak, CEO. “The UBA market is growing very quickly, and we are well-positioned to extend our leadership position in 2016. We have the team, the technology, and the partners in place for significant growth.”



Teladoc Announces Record Annual Revenue & Visits and Preliminary 2016 Outlook

2015 Preliminary Unaudited Results:
Total revenues of approximately $77 – 77.5 million, a 77% increase over 2014
Visits exceeding 575,000 a 92% increase over 2014

2016 Outlook:
Total revenues of $116 to $122 million, a 55% increase over 2015 (at the midpoint)
Visits of 860,000 to 900,000, a 53% increase over 2015 (at the midpoint)

Teladoc, Inc. (NYSE:TDOC), the first and largest telehealth platform in the United States, today announced preliminary unaudited 2015 financial results and provided a preliminary outlook for 2016.

Jason Gorevic, Chief Executive Officer of Teladoc, commented, “2015 was a monumental year for Teladoc, as we completed our IPO and conducted our one millionth telehealth visit. Our full-year revenue growth of 77% and visit growth of 92% demonstrate the momentum and traction we are seeing in our business. Our market leading position and the continued adoption of telemedicine as a low-cost, high quality healthcare option, leave me very confident heading into 2016 that we will deliver revenue and visit growth of over 50%.”



Reputation.com Adds Comprehensive Social Media Targeting Capability to Enterprise Platform

Reputation.com, the leading provider of online reputation management technology and services, today launched new social media capability on its enterprise platform. The new Social Media module helps brands to better target local customers by building and managing a robust social presence tailored to thousands of individual business locations at the community level.

Reputation.com’s Social Media module helps businesses not only monitor and manage their online reputation, but also promote success stories with their communities at large. The platform makes it easy to build a library of customer success stories, publish them on a schedule, listen and respond to social conversations, and then promote the most compelling stories to reach new customers and amplify local awareness.



Teladoc Appoints Stephany Verstraete Chief Marketing Officer

Teladoc, Inc., the nation’s leader in telehealth, has named Stephany Verstraete chief marketing officer. The appointment reflects the company’s continued commitment to revolutionizing how Americans access and engage with quality health care.

“I’m very pleased to announce the addition of Stephany to our leadership team,” said Jason Gorevic, Teladoc’s chief executive officer. “Teladoc has distinguished itself by bringing unmatched value to our clients through leading consumer engagement strategies, and Stephany’s exceptional background in building brands and consumer relationship management will help us to deliver even greater results for our clients.”

Ms. Verstraete brings to Teladoc a unique combination of classic brand marketing and a proven track record of building digital brands. Having worked for Kraft, Frito Lay and Hostess, she honed her experience in all elements of brand stewardship including consumer segmentation, insights and positioning. She has also held leadership roles during high-growth phases of digital pioneers, such as Match.com and Expedia, where she led customer acquisition and engagement efforts globally. Most recently, Ms. Verstraete made the leap into health care at Truveris where she served as chief marketing officer.



Delphix Builds Momentum Heading Into 2016, Adding Three Industry Recognitions to its Coffers

Delphix Wins Government Security News Homeland Security Award, Named to Red Herring Global 100 and CRN 10 Coolest Virtualization Startups Lists

Delphix, the market leader in Data as a Service, today announced it has earned three more industry recognitions in 2015, adding to a growing list of accolades as the company builds on strong momentum headed into 2016:

  • Delphix won the Government Security News Homeland Security Award for Best Data Security/Loss Management System, demonstrating excellence in delivering secure Data as a Service (DaaS) solutions that help government organizations secure non-production data
  • Delphix was named to the Red Herring Global 100, which recognizes the most exciting startups from around the world and since 1996 has been seen as a key instrument in discovering the most promising private ventures
  • Delphix was named to CRN’s 10 Coolest Virtualization Startups list, which highlights companies on the radar of solution providers that sell virtualization into enterprise and midmarket customer accounts

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