MindMatters Announces New Funding Round.Business Editors PITTSBURGH--(BUSINESS WIRE)--Dec. 31, 2003 MindMatters Technologies, Inc., an enterprise solution provider delivering a comprehensive management platform for intellectual assets that facilitates capture, collaboration Working together on a project. See collaborative software. , and commercialization of new and emerging innovations, today announced that it has completed an additional round of financing. The round was led by Mid-Atlantic Venture Funds, a prominent seed/early stage investor, with offices in Philadelphia and Reston, and included additional investment from Pittsburgh-based Future Fund, Inc. In addition to the financing, MindMatters also announced the promotion of John Gabrick to the position of CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Mr. Gabrick, commented that "MindMatters is now properly positioned for strong growth. Our flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Innovator(TM), has successfully proven itself at a variety of both domestic and international deployments, and with the addition of new software functionality and services has demonstrated direct impact on an organization's intellectual property, innovation processes, and productivity. The bottom line is that we deliver results, and our customers appreciate it." "I continue to be impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: at the caliber of world-class companies they sign-up month after month. It's extremely gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to see a young company deliver global systems beyond the expectations of these types of companies. I attribute it to their professionalism professionalism the upholding by individuals of the principles, laws, ethics and conventions of their profession. , experience, and customer-centric attitude," said Fred Beste, CEO, Mid-Atlantic. In announcing the organizational changes, MindMatters also announced the departure of Cassius Elston. Mr. Elston, an original co-founder, led the company as CEO from its inception four years ago through three progressive up rounds of financing and successful commercialization of its flagship enterprise solution. Mr. Elston, who resides in the Seattle area, cited personal reasons in connection with travel to and from MindMatters headquarters in Pittsburgh: "I've seen more than my share of blue sky between Seattle and Pittsburgh over the past four years. I depart knowing that we've achieved remarkable things and built a fantastic team. I am a firm believer in this company and intend to help it going forward in my capacity as an investor and strategic advisor." MindMatters' flagship solution, Innovator(TM), is now successfully deployed to leading Fortune companies such as PPG Industries PPG Industries (NYSE: PPG) was founded in 1883 as the Pittsburgh Plate Glass Company. PPG is an American manufacturer of glass and chemical products, including automotive safety glass. , Respironics, Inc., and ITT ITT Initial Teacher Training (UK) ITT I Think That ITT Invitation To Tender ITT Individual Time Trial (professional cycling) ITT Intention-To-Treat ITT In This Thread (forums) Industries. Mr. Gabrick noted that "Cash has contributed a great deal to the company and we are sorry to see him go. Under his leadership, the Company successfully sold and implemented our novel solution to some of the premier companies in the world during one of the most difficult periods in recent memory for software companies. We wish him all the best and look forward to building on the foundation he helped create for the company." About MindMatters MindMatters is a leader in the development of enterprise solutions for creating advanced Digital Innovation Networks(TM). MindMatters' patent-pending solution, Innovator(TM), accelerates the "time-to-commercialization" of new innovations and ideas by capitalizing on the latent Hidden; concealed; that which does not appear upon the face of an item. For example, a latent defect in the title to a parcel of real property is one that is not discoverable by an inspection of the title made with ordinary care. intellectual capital that exists within corporations. With Innovator, companies can more effectively inspire, manage and protect developing innovations and intellectual assets. MindMatters can be found on the Web at: www.us-mindmatters.com. |
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