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Tag: SaaS

KIM SNYDER 

Fewer than one in five C-suite positions in financial services are held by women globally, according to Deloitte. But Kim Snyder, founder and CEO of Roanoke-based banking software company KlariVis, defies the odds. After “many rewarding years in community banking,” a 2015 acquisition by BNC Bancorp displaced her from her job as chief financial officer for Valley Financial Corp. and Valley Bank. But that unexpected change steered her toward founding fintech KlariVis, which provides data analytics tools for community banks. 

Snyder wears many hats at KlariVis, from raising capital to overseeing business operations. 

“Stepping into this leadership position was unique, as it wasn’t an existing role I sought out but one that I created out of necessity,” Snyder says. Plus, “being a woman in fintech and banking requires creativity and resilience. Navigating a traditionally male-dominated industry, I’ve had to carve out a space where women can thrive.”

Outside KlariVis, Snyder shares her expertise as a board member for Verge, formerly known as the Valleys Innovation Council, which brings together local tech companies to identify regional priorities for the industry and generate funding for tech and biotech projects in Roanoke, the New River Valley and Lynchburg. She’s also served as an instructor for the Virginia Bankers Association’s Virginia Bankers School of Bank Management.

“If you’re passionate about fintech and banking, pursue your goals relentlessly,” Snyder says. “The industry needs more women leaders to drive progress and transformation.”

RELATED STORY: 2024 Virginia Women in Leadership Awards

Ellucian names new COO

Reston-based Ellucian has named Kelly Rogan its chief operating officer, the higher education software company announced Tuesday.

Rogan will oversee Ellucian’s global professional services, managed services, services strategy and innovation, and customer success and support.

She joins Ellucian after spending 15 years at Microsoft, most recently as corporate vice president of global systems integrators. There, she held various leadership positions and led teams driving from strategy through execution at scale, including as COO of the software giant’s U.S. subsidiary focused on seller productivity. Rogan is currently based in Washington state and will continue to reside there for now, but plans to spend a lot of time in Reston at Ellucian’s headquarters.

“Ellucian’s deep understanding of the power of higher education, and its ever-changing landscape, has enabled institutions to drive better outcomes for their students,” Rogan said in a statement. “And at the core of Ellucian’s success is an incredible team. I’m excited to join a group of talented and passionate people, while bringing my expertise in driving cloud transformation and delivering customer success to contribute to the mission.”

She started her career at Ernst & Young, specializing in large-scale system implementations and launching development centers around the world. Then, she joined CNA insurance.

“I am very excited to welcome Kelly to Ellucian and to the leadership team. Her seasoned expertise with the transformational power of the cloud at Microsoft will accelerate and enhance our SaaS delivery and customer success strategies,” Ellucian President and CEO Laura Ipsen, said in a statement. “Kelly’s passion for ensuring customer excellence, coupled with her outstanding leadership qualities and deep commitment to talent development and organizational culture, will make her an invaluable addition to the team as we continue to advance our mission of powering higher education so institutions can empower student success.”

Rogan has a bachelor’s degree in operations management information systems from Northern Illinois University.

In October 2023, Ellucian entered into an agreement to buy United Kingdom-based Tribal Group for $210 million.

Founded in 1968, Ellucian provides enterprise resource planning software products such as student information systems, data analytics tools and graduation-tracking platforms for more than 2,900 higher education customers in more than 50 countries serving 22 million students. It was acquired by Blackstone and Vista Equity Partners for an undisclosed amount in September 2021.

Parsons to acquire N.J. software company

Centreville-based Fortune 1000 defense contractor Parsons Corp. has entered into an agreement to acquire IPKeys Power Partners Inc., a New Jersey provider of enterprise software platform solutions, the company announced Tuesday.

The $43 million acquisition is expected to close in the second quarter.

IPKeys Power Partners delivers cyber and operational security to electric, water and gas utilities across North America, according to a news release.

“The addition of IPKeys brings important software platforms and capabilities that strengthen our integrated solutions that protect critical infrastructure,” Parsons’ Chair, President and CEO Carey Smith said in a statement. “A natural extension of our growth strategy, this acquisition reinforces our position in the critical infrastructure protection market, enhances our customer base, spans both of our business segments, and extends our capabilities into adjacent markets.”

IPKeys Power Partners has about 70 employees, with office in Louisiana, Texas and California, in addition to its headquarters in Tinton Falls, New Jersey. The company will be integrated into Parsons’ Connected Communities business unit and the Parsons X digital accelerator organization, a spokesperson told Virginia Business.

“We empower utilities and operators to better adapt to today’s evolving grid. As digitalization and electrification advance, we move closer to reaching our nation’s climate goals of net zero by 2050, but these innovations present energy supply, cybersecurity and technological risks of their own,” said Robert Nawy, CEO of IPKeys Power Partners, in a statement. “We are excited to join our tools, technology and experience with Parsons’ proven, industry-leading critical infrastructure protection solutions, further proliferating the resiliency of the power grid and other infrastructure – a core mission of both companies.”

In May 2022, Parsons closed on its $400 million acquisition of Reston-based Xator Corp.

Parsons reported fourth quarter revenue of $1.1 billion, representing total growth of 16%, with net income of $28 million. For fiscal year 2022, Parsons reported revenue of $4.2 billion, 15% growth and net income of $97 million. In 2022, Parsons ranked no. 733 on the Fortune 1000 list.

Ellucian closes acquisition of CampusLogic

Reston-based higher education software company Ellucian Inc. has completed its acquisition of Chandler, Arizona-based financial aid software provider CampusLogic Inc, Ellucian announced Tuesday.

The deal was first announced in January. Financial details were not disclosed.

Campus Logic is a software-as-a-service (SaaS) company that provides financial aid tools and platforms for colleges and universities. It supports nearly 800 colleges and universities, according to a news release.

“Putting students first means solving for those that never get an opportunity to further their education whether for financial, social, health or other reasons. CampusLogic solutions will extend Ellucian’s capabilities to promote student wellbeing and focus on student financial success — the most pressing need of today’s higher ed students,” said Ellucian President and CEO Laura Ipsen in a statement. “I am thrilled to welcome CampusLogic to Ellucian. Together we will provide a more connected experience between institutions and students to improve the entire financial aid lifecycle.”  

Ellucian has 3,100 employees and was acquired by Blackstone and Vista Equity Partners for an undisclosed amount in September 2021. Now it is growing with the acquisition of CampusLogic.

“When I started CampusLogic almost 11 years ago, I wanted to build a software company that would transform the student financial experience in higher education,” said CampusLogic founder and CEO Gregg Scoresby in a statement. “Thanks to our incredible employees and customers, our products will remove financial friction for over 5 million students this year. But as part of Ellucian, we expect to double our impact in the coming years and ensure that student financial success remains a national priority.”

Founded in 1968, Ellucian provides enterprise resource planning software products such as student information systems, data analytics tools and graduation-tracking platforms for more than 2,700 higher education customers in more than 50 countries representing more than 26 million students.

CampusLogic’s platform tools include a net price calculator, scholarship management, personalized digital communications, simplified financial aid verification, personalized virtual advising, tuition and scholarship crowdfunding, and integrated data visualizations.

Macquarie Capital served as exclusive financial advisor to Ellucian. Goldman, Sachs & Co. LLC served as exclusive financial advisor to CampusLogic.

Fluence to acquire renewable energy SaaS company

Arlington-based energy storage and digital application company Fluence Energy Inc. announced Monday that it has entered into an agreement to acquire Nispera AG.

Nispera is a Zurich-based artificial intelligence and machine learning-enabled software-as-a-service company that targets the renewable energy sector. It helps clients monitor, analyze, forecast and improve renewable energy assets’ performance and value.

“I am very excited to welcome Nispera, a customer-centric organization that at its core is aligned with our values and mission to transform the way we power the world,” Fluence President and CEO Manuel Perez Dubuc said in a statement. “With this acquisition, we are primed to expand our portfolio of digital products and services for customers around the world. Furthermore, it represents a powerful cross-selling opportunity to offer energy storage products to owners of existing renewable energy assets and portfolios.”

The transaction includes an all-cash buyout provision of approximately $30 million for existing private investors in Nispera. In addition to the cash payment, Fluence will also issue restricted stock to Nispera’s management team that vests over three years for retention purposes.

Nispera will maintain its leadership team and its Zurich headquarters.

The company’s flagship offering is an AI-driven utility-scale asset performance management platform that currently manages 8 gigawatts of assets across 450 wind and solar projects. It also offers applications that Fluence will combine with its own to create a “manage app.” Nispera has a predictive maintenance application, an operations and maintenance application and a portfolio management application, along with an application that provides power generation forecasting services for energy assets.

The company’s software currently collects and analyzes data from wind, solar and hydro assets in addition to external sources in more than 25 countries.

Fluence, which was founded in 2018 as a joint venture of Arlington-based Fortune 500 energy company AES and industrial manufacturer Siemens, announced late last year that the Qatar Investment Authority will invest $125 million in the company, with AES and Siemens retaining approximately 44% shares each of the company. The company launched its initial public offering in October 2021.

WaveDancer to acquire Herndon SaaS firm for $90M

Fairfax-based software company WaveDancer Inc. announced Tuesday that it has entered into a definitive agreement to acquire Herndon-based software-as-a-service platform company Knowmadics Inc. for $90 million.

Approximately $56.5 million in cash and $33.5 million of stock at a price of $6.50 per share comprise the $90 million total.

WaveDancer intends to raise approximately $67 million in a private offering of its common shares, according to a news release, and the transaction’s closing is contingent upon financing. The transaction is expected to close in the second quarter, and Knowmadics will become a wholly-owned subsidiary of WaveDancer.

WaveDancer provides cybersecurity solutions and specializes in secure supply chain management. The company uses blockchain and encryption algorithm technology, as well as providing on web-based interface for transactions, documentation and other aspects of management.

“We are determined to provide industry-leading comprehensive device and data management and security solutions for government and commercial clients,” WaveDancer CEO Jamie Benoit said in a statement. “Given the increased threat of state-sponsored cyber attacks against U.S. commercial and government critical infrastructure, we think the timing and nature of our corporate transformation will position us well in the commercial and government marketplaces.”

Knowmadics CEO Paul Maguire and President Claire Ostrum founded the company in 2013. Knowmadics provides an Internet of Things remote device management and monitoring platform and mobile apps. WaveDancer plans to extend its software to include devices and enterprise systems through the acquisition.

“After seeing the transformation that’s been underway at WaveDancer over the last year, and getting to know Jamie and the team, I am delighted about this acquisition,” Maguire said in a statement. “We’ve been approached many times over the years, but no partnership felt right until now. From a mission focus, culture and product offering perspective, our two organizations are in lockstep.”

Octo acquires Herndon-based B3 Group

Reston-based Octo Consulting Group, backed by Arlington Capital Partners, has acquired Herndon-based health IT company B3 Group Inc.

Financial terms of the transaction were not disclosed.

B3 modernizes applications using low- or no-code software and platforms such as Microsoft Power Platform. The company also provides data governance, integration and analytics as well as cloud engineering and operations to federal health care clients.

B3’s leadership will remain with the company and expand Octo’s health business.

“We are ecstatic B3 is joining the Octo family,” Octo CEO Mehul Sanghani said in a statement. “Now with even deeper experience across the health space added to our defense, intelligence, national security and civilian customer base, Octo has greatly enhanced its position to serve as the federal government’s complete, end-to-end digital modernization partner.”

B3 has worked with the U.S. Veteran Affairs Department for 13 years. The company holds the $686 million U.S. Department of Veterans Affairs Digital Transformation Center task order. In September 2019, it also won a 15-year, $59.9 million contract to provide the VA with a software-as-a-service enterprise telecommunications expense management integrated solution (eTEMS).

“Joining Octo allows us to enhance our offerings to our customers through a more robust set of solutions and provide greater career opportunities to our employees,” B3 President and CEO Dwight Hunt said in a statement. “As B3 and Octo began to collaborate, we collectively realized that our commitment to improving digital services to the VA and the broader federal health community will turbocharge the solutions we deliver to our nation’s veterans and those that support them.”

B3’s Digital Transformation and Modernization lab will add to Octo’s oLabs, a federal government research and development center housed in a 14,000-square-foot facility.

Fairfax-based software company Sevatec merged with Octo in December 2020, creating a company with 1,100 employees and nearly $300 million in annual revenue. In July 2021, Octo acquired Chantilly-based defense software development company Volant Associates.

3Pillar Global names CFO

3Pillar Global Inc. has hired Jeff Sperber as its chief financial officer, the Fairfax-based product lifecycle management company announced Tuesday.

“Jeff Sperber brings us exceptional skills honed by years of leadership managing high-growth businesses,” 3Pillar CEO David DeWolf said in a statement. “But Jeff is more than just a top talent — he is also someone who understands and lives our company’s core values.”

Sperber has served as CFO for appraisal company Class Valuation, talent management software company TalentReef, SaaS company NetDocuments and Accenture’s Mortgage Cadence.

“Joining 3Pillar is an opportunity unlike any other,” Sperber said in a statement. “As the company quickly scales its operations to deliver innovation to new industry partners, I am honored to join the team and participate.”

In November 2021, 3Pillar selected a chief operating officer and a chief people officer from within.

Founded in 2006, 3Pillar develops digital business software products like web and mobile apps and SaaS platforms for its clients, including CARFAX, Fortune and PBS. After a string of acquisitions beginning December 2020, it now has more than 2,000 employees across six countries. The company made the Inc. 5000, the list of the fastest-growing privately held companies in the U.S., in 2021 for the ninth time.

Cvent goes public again

Tysons-based event software company Cvent Holding Corp. began trading on the Nasdaq Global Market Dec. 9 after closing its merger the day before with San Francisco-based SPAC Dragoneer Growth Opportunities Corp. II.

The move is Cvent’s second time going public. In 2016, Vista Equity Partners acquired it for $1.65 billion and took it private. The deal with Dragoneer was first announced in July and valued what was then Cvent Inc. at about $5.3 billion.

The company registered 487 million shares at a maximum price of $9.96 a share, according to Dragoneer’s S-4 filing with the U.S. Securities and Exchange Commission. It is trading under the ticker symbol “CVT.” As of 4 p.m. Thursday, shares were trading for $8.10.

Cvent adapted to provide remote events software in addition to its live event management services amid the pandemic. Its virtual events arm now generates more than $100 million in revenue, The Wall Street Journal reported.

Cvent’s return to the public market reflects changes in the industry, Cvent CEO and founder Reggie Aggarwal said in a statement.

“Organizations around the world want to get back to meeting — whether virtually, in-person or both with hybrid — and are leveraging technology more than ever to connect with their attendees,” Aggarwal said. “We’ve invested heavily in our virtual and hybrid event solutions so that now, no matter how our nearly 21,000 customers want to bring people together, Cvent can help them deliver more engaging, impactful experiences.”

Founded in 1999, Cvent provides an event marketing and management platform using the software-as-a-service model. The company has more than 4,000 employees. It reported $134.1 million in revenue for the third quarter of 2021, a 13% increase from the same quarter last year.

3Pillar Global promotes COO, chief people officer

Fairfax-based product lifecycle management company 3Pillar Global Inc. announced two promotions Tuesday: David Sawatzky to chief operating officer and Jamie Whitacre to chief people officer.

Sawatzky was previously the company’s chief delivery officer. Whitacre served as the senior vice president of talent.

“Dave and Jamie are both exceptional leaders,” 3Pillar CEO David DeWolf said in a statement. “Each one embodies our values and excels at empowering great people, which is precisely what we need right now. Their appointments will equip 3Pillar to continue to keep up our current pace of growth.”

Part of Sawatzky’s role as chief delivery officer included expanding 3Pillar offerings like innovation consulting and machine learning. He previously led a team of 2,000 people as the vice president of SaaS and client success for IBM’s Cognitive Solutions unit.

“I am excited for this next step at 3Pillar,” he said in a statement. “This past year, we have seen 3Pillar lead the way in digital innovation, and I am thrilled to help scale the team to create world class products for our expanding set of clients.”

Jamie Whitacre is the chief people officer of 3Pillar Global.

Whitacre has worked with 3Pillar for 12 years, most recently working with its global talent and employer branding teams to retain talent and build its corporate culture. She earned degrees from James Madison University and Capella University.

“I’m thrilled to continue my journey at 3Pillar as we expand our global presence and scale our culture,” Whitacre said in a statement. “Our next phase of growth is critical in helping us attain our vision of becoming the employer of choice in digital product development services.”

Founded in 2006, 3Pillar develops digital business software products like web and mobile apps and SaaS platforms for its clients, including CARFAX, Fortune and PBS. After a string of acquisitions beginning December 2020, it now has more than 2,000 employees across six countries. The company made the Inc. 5000, the list of the fastest-growing privately held companies in the U.S., in 2021 for the ninth time.