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In announcing in late June that iCIMS' Ronald Kasner had been named CFO of the Year by New Jersey Technology Council, the rapidly growing (35% pa it says) human resources SaaS vendor revealed a few interesting facts about itself. Matawan-based iCIMS said it now has almost 400 employees, more than 2200 clients, is profitable, and its recurring revenue is approaching an $80 million annual run rate. All of which could put iCIMS, which targets the SMB (Small and medium-sized business) market, on track for an IPO in the not too distant future.
In early 2012, iCIMS received a $35 million minority investment from Bala Cynwyd-based
Susquehanna Growth Equity.
Speaking of SGE, it recently announced the addition of Ben Weinberg, formerly a Principal at
Element Partners, to its team as a Director.
Sticking to the New Jersey theme, Lawrencville-based Edison Ventures is now Edison Partners, as of this week. The new name reflects "a new ownership and management structure – a partnership emphasizing learning, innovation, empathy, relentless execution, and collaborative decision-making -- under the leadership of Chris Sugden, Managing Partner, and four General Partners," the firm said in a statement. Trying to remember what its prior name was before the last name change, which wasn't too long ago. I reported recently on Edison's plans for its eighth fund.
Philadelphia-based PeopleLinx has raised another $1.5 million in [debt-based] financing, Technical.ly Philly reported based on an SEC filing.
PeopleLinx is facing some transitional issues in its business model since its access to the LinkedIn API was removed by LinkedIn in March.
It brings PeopleLinx' total funding to $4.7 million. Existing investors Osage Venture Partners, MissionOG, and Greycroft Partners all participated, Technical.ly Philly quoted
a PeopleLinx exec as confirming.
The Inquirer's Joe DiStefano wrote this week about the success of Newtown Square's pet insurer Petplan. In the wake of competitor Trupanion's recent IPO filing implying a market value of potentially more than $400 million, could the somewhat smaller Petplan take the same path? Petplan backer Vernon Hill isn't saying right now, but does tell the Inquirer he feels Petplan has a better business plan long term.
Comcast Ventures' latest bet is an $8 million Series A investment in San Francisco-based cybersecurity tech firm Bay Dynamics. Comcast appears to be the sole Series A participant to this point.
Amused by the comments of Yahoo's Chief Development Officer yesterday calling venture
capital "a hobby." Though I get her point, it will rankle many.