Originally founded in 2004 as NewsOverWireless, a division of Capitol Broadcasting Company, StepLeader spun out as an independent company in May 2012. Today the company serves hundreds of customers, supports millions of active app users and delivers billions of mobile advertisements every year.

“We are thrilled to partner with these two firms. Their operational expertise and business acumen will accelerate our ability to develop technology and reach new markets faster and more intelligently,” says Brian Handly, StepLeader’s CEO.

Ed McCarthy of River Cities adds, “StepLeader has proven that they can deliver effective local mobile solutions and have established an early leadership position in an emerging market opportunity.”

“We’ve been following StepLeader’s success and Brian Handly’s career for the last decade,” comments David Jones of Bull City Venture Partners. “Mobile usage continues to be an ever increasing proportion of consumers and the enterprise’s engagement. We are thrilled to partner with one of the largest mobile software and advertising platforms.”

Proceeds from the financing will be used to increase the engineering, advertising sales and business development teams, as well as to pursue new markets more aggressively.

About StepLeader
Located in downtown Raleigh, StepLeader formed in 2004 when it developed the nation’s first news app for local media. Today, the company offers solutions and thought-leading expertise to help trusted content producers deliver their stories across mobile apps, mobile websites and smart TV apps. StepLeader provides advertisers with transparent access to a nationwide audience, delivering more than 400 million ads monthly. StepLeader has a proven track record of delivering quality return-on-investment for its partners including Scripps Television Station Group, Fox Television Stations, Morgan Murphy Media, News-Press & Gazette Company (NPG) and Capitol Broadcasting Company.
www.stepleaderdigital.com

The post StepLeader Secures $4.4M in Funding With River Cities Capital Funds appeared first on River Cities Capital Fund Management.

“River Cities funded EndoChoice in 2008 to build a great platform company within the GI market. The addition of the industry disruptive Peer Medical technology along with the $43 million in capital will enable us to achieve our goal of scaling into the global GI leader,” says River Cities’ Rik Vandevenne, who sits on EndoChoice’s board. “We are pleased to welcome Peer’s management team, investors and Sequoia Capital to the growing EndoChoice family.”

EndoChoice will remain headquartered in Alpharetta, GA, but Peer now becomes the company’s Israeli-based R&D center. Peer has developed a proprietary video system and Full Spectrum Endoscope that greatly expands the view during endoscopy and colonoscopy allowing gastroenterologists to better detect more cancerous polyps and abnormal lesions.

“It is well known that we are missing 25 to 40 percent of polyps during colonoscopy. Conventional scopes are comparable to driving a car with without side windows. Can you imagine all the things we are missing? The Full Spectrum Endoscope provides the side windows for a full view and it makes a tremendous difference. This technology will save lives,” says Mark Gilreath, founder and CEO of EndoChoice. “We are very impressed with the R&D team in Israel. Their capabilities and insights will fuel the future growth of EndoChoice for many years to come as we continue to build a great platform company.”

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River Cities’ technology practice centers around high-growth, capital efficient companies poised to lead their respective markets with solutions that help businesses improve efficiency by streamlining operations, increasing revenue and reducing costs. Like Trax, target portfolio companies pursue large, established markets with disruptive technologies and services that are significantly “better, faster, cheaper” than the incumbent solutions.

“Trax is the leading global provider of solutions that manage transportation-related spend,” says River Cities’ Rob Heimann, who will join the company’s board. “Trax is entering a period of tremendous growth as global customers focus on controlling costs, enhancing transparency, reducing financial risks and shortening supply chains.”

 “River Cities is the perfect partner for Trax,” says Scott Nelson, president and CEO of Trax. “Their funding, industry knowledge and thought leadership in the world of business-to-business SaaS will help us accelerate our growth and expand our offerings to a broader base of customers.”

About Trax Technologies

Trax Technologies’ 20-year history of thought leadership in solution delivery has enabled it to accomplish a truly global operating footprint and massive processing power. In 2012, Trax processed three logistics bills and three supporting documents every single second of the year. Trax’s client list represents the top shippers in the world who spent over $13 billion in 2012 on transportation-related expenses. Trax uniquely offers shippers and service providers quantifiable benefits including clarity and intelligence in spend and receivables management, reduction of financial risk, reduction of labor cost and improved cost management. The company is headquartered in Scottsdale, Arizona with operating centers in Scotland, Costa Rica, Singapore and the Philippines. For more information please visit www.traxtech.com.

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OrthoHelix is an innovative, high growth, and EBITDA positive company that is focused on developing and marketing specialty implantable screw and plate systems for the repair of small bone fractures and deformities predominantly in the foot and ankle. OrthoHelix’s sales for the calendar year 2012, which are all based in the United States, are projected to reach approximately $29 million, an increase of over 30% compared to 2011. OrthoHelix’s gross profit margin on 2012 sales is expected to exceed 80% and EBITDA is expected to be positive. The addition of OrthoHelix is expected to more than double Tornier’s lower extremity revenue and allow Tornier to increase its focus on foot and ankle surgeons.

Douglas W. Kohrs, President and Chief Executive Officer of Tornier, commented, “We are pleased to welcome the employees, surgeon advisors, and distribution partners of OrthoHelix to Tornier. OrthoHelix’s innovative technology, products, and surgeon focused culture will help us take our Specialists Serving Specialists strategy to the next level. The transaction will enable us to substantially expand our sales coverage of foot and ankle surgeons, significantly enhance our addressable lower extremity market opportunity, and position us to achieve more consistent growth across our upper and lower extremity product categories.”

OrthoHelix’s strong growth is led by its MaxLock Extreme small bone screw and plate systems featuring proprietary anatomic contouring, low profile, and multiplanar fixation. The combination of OrthoHelix’s broad line of plate and screw systems with Tornier’s ankle arthroplasty, biologics, and other foot and ankle implants is expected to create one of the broadest product and technology offerings to lower extremity surgical specialists in the orthopedic industry. In addition, Tornier plans to utilize its strong international distribution channel to accelerate OrthoHelix’s geographic expansion beyond its current sales base in the United States.

Dennis Stripe, President and CEO of OrthoHelix, commented, “We are very excited by the opportunities that the OrthoHelix and Tornier combination will present to our surgeon customers and our employees. We believe Tornier’s resources will position us to drive significant organic growth in the lower extremity business through product innovation, access to novel arthroplasty and biologic products, and, over time, an international presence for OrthoHelix through Tornier’s strong proven distribution network. We are confident that our strong “Surgeons Speak. We Deliver” culture will only be enhanced as part of Tornier.”

Under the terms of the agreement, Tornier has agreed to acquire OrthoHelix for $135 million, which will consist of $100 million in cash and $35 million in Tornier’s stock. Tornier intends to use cash on hand and borrowings to pay for the acquisition. Upon closing, the transaction is expected to be dilutive to Tornier’s 2013 earnings per share, excluding amortization and stock compensation expense, and acquisition and integration related charges, or cash earnings per share, but accretive to its cash earnings per share in 2014.

OrthoHelix will continue to operate under the OrthoHelix name, retain all of its product brand names in the market, and customers will continue to be served by OrthoHelix and their distribution partners. Central operations of the OrthoHelix business will remain based in Medina, Ohio as will its 80 dedicated employees.

Outlook

Excluding OrthoHelix acquisition and integration related charges, Tornier is reiterating its previously issued standalone financial guidance for fiscal 2012 and third quarter, which is contained in Tornier’s earnings release issued on August 7, 2012. Tornier expects to issue combined fiscal 2012 guidance reflecting the acquisition of OrthoHelix at the appropriate time once the transaction is closed.

related links:
www.orthohelix.com/

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