Fall 2008
Newsletter
HEADLINES
RECENT EXITS
PORTFOLIO COMPANY NEWS
HEADLINES
Senior Whole Health Named the #1
Fastest-Growing Private Company in the United
States by Inc.
Magazine
We are pleased to announce that SSM portfolio company Senior Whole Health
was ranked the #1 fastest-growing private company in the United States by Inc. Magazine in the publication’s annual Inc. 5000 list.
We would like to congratulate the management team and employees of Senior Whole Health on this outstanding accomplishment.
To view the article published in Inc. Magazine, please visit
http://www.inc.com/magazine/20080901/whatever-it-takes.html.
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All Web Leads Receives Investment from
SSM Partners
We are pleased to announce our recent investment in All Web Leads,
Inc. SSM led the financing with participation from Croft & Bender Capital and Dillon Joyce.
All Web Leads, based in Austin, Texas, is a web-based marketing company that
connects financial and insurance agents to consumers who are actively shopping for car, home, life, health, long term care and/or disability
insurance. The company uses a proprietary system of web marketing, search engine optimization, and technology engineering to provide the highest
quality data available in the lead generation industry.
To view the press release announcing this investment, please visit http://www.ssmpartners.com/html/news_press/news/061008.htm.
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FrontStream Payments
Raises $16 Million to Fund Strategic Acquisitions and Organic Growth
We are pleased to announce our investment in FrontStream Payments,
Inc. SSM led the financing with participation from Noro-Moseley Partners, Wakefield Group, and Southpoint Capital.
FrontStream Payments, based in Brentwood, Tennessee, is a leading provider
of payments products and services to small and medium-sized businesses and independent credit card sales organizations. Offerings include turnkey
solutions that enable merchants to increase revenues through the acceptance of credit and debit cards.
Proceeds from the financing will be used to make strategic acquisitions as
well as fund organic growth.
To view the press release announcing this investment, please visit http://www.ssmpartners.com/html/news_press/news/041508.htm.
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RemitDATA, Inc. Secures $5
Million Equity Investment to Support Growth
We are pleased to announce our investment in RemitDATA, Inc.
SSM Partners and Noro-Moseley Partners participated in the $5 million equity financing. The investment provides growth
capital that will enable the Company to expand its operations, sales and service delivery.
RemitDATA delivers a powerful suite of web-based,
‘plug-n-work’, productivity tools that help healthcare providers become more profitable. Reimbursement Pro, the Company’s
flagship product, is a web-based tool that helps managers and collectors better control their reimbursement process including the identification of
flaws in the billing process, identifying and working denials, submitting secondary billing, finding and copying paper EOBs and other related issues
that are common problems that plague the medical industry.
To view the press release announcing this investment, please
visit
http://www.ssmpartners.com/html/news_press/news/012308.htm.
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Handango Secures Additional
$9.5 Million in Venture Funding To Expand Its Growth Initiatives in the Global Smartphone Content Market
SSM portfolio company Handango raised $9.5 million earlier this
year. The investment will be used to support the company's new and innovative distribution deals, improve the scalability of its
infrastructure, and expand globally. Additionally, Handango plans to enhance the consumer experience to make smartphone content easier to browse, find
and purchase online and directly from a mobile device. Participating in the Series C round are Institutional Venture Partners (IVP), Advanced
Technology Ventures (ATV), Centerpoint, Neo Carta, Pharos Capital Group and SSM Partners.
Handango is the leading provider of smartphone content globally. Leveraging
its network of more than 16,000 content partners and its vast distribution network, Handango seamlessly delivers the smartphone marketplace to
millions of consumers on the Web and from the device. Handango's market-leading content delivery platform, Handango AMPP, is the platform of choice
for numerous mobile industry leaders including Microsoft, HP, Verizon Wireless, T-Mobile, AT&T and AOL.
To view the press release announcing this investment, please visit http://www.ssmpartners.com/html/news_press/news/030308.htm.
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RECENT EXITS
Spectrum Equity Investors
and Great Hill Partners Lead $232 Million Recapitalization of Passport Health
SSM portfolio company Passport Health Communications was recently
recapitalized by two leading private equity firms – Spectrum Equity Investors and Great Hill Partners. The transaction
provided liquidity to long-term venture capital investors, as well as provided access to additional capital for investment in new products and future
acquisitions.
Passport offers health care providers and payers a comprehensive suite of
solutions to manage the revenue cycle, enhancing the amount and timeliness of reimbursement and increasing administrative and financial
productivity. Passport has grown steadily and become very profitable under the strong leadership of CEO Jim Lackey.
To view the press release from this announcement, please visit
http://www.ssmpartners.com/html/news_press/news/073108.htm.
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Dental One Acquired by MSD
Capital and North
Peak Capital
SSM portfolio company Dental One was recently acquired by MSD Capital and
North Peak Capital. Financial terms of the transaction were not disclosed; however, the exit provided an attractive return for SSM
investors.
Dental One is a dental practice management company affiliated with
approximately 60 dental offices in the Dallas/Fort Worth, Houston, San Antonio, Phoenix, Denver and Salt Lake City metropolitan markets.
MSD Capital and North Peak Capital had previously acquired another company
in the dental practice management space and viewed Dental One as a way to scale the business while driving efficiencies between the two companies by
sharing best practices and key vendor relationships.
To view the press release from this announcement, please visit
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/10-07-2008/0004899204&EDATE=.
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PORTFOLIO COMPANY NEWS
DataCert Builds on Market Leadership with Appointment of President and CEO
Handango Announces Global Distribution Deal with Electronic Arts Inc. for Top Game Titles on Smartphones
Connecture, Inc. Named in Inc. Magazine's 5,000 Fastest Growing Private Companies for the Second Year
FrontStream Payments Buys Direct Technology Innovations
RemitDATA Announces Senior Management Appointments
Servigistics Named One of America’s 5000 Fastest-Growing Private Companies Second Year in a Row
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