When police, firefighters and paramedics get emergency calls, they frequently rely on public information to determine how to get to a fire, crime scene or accident site. Better information — such as satellite photos of the scene — exist, but much of it is collected by intelligence agencies and is unavailable to civil agencies.
“Data that started life as classified information is hard to share, because of the obvious concerns,” said W. Edward Hammersla, chief executive of Herndon-based Trusted Computer Solutions Inc. But Hammersla’s company wants to bring that information to emergency first responders. If successful, its software will help civil agencies separate and access nonconfidential information from more sensitive data.
Trusted Computer Solutions yesterday announced a $3 million investment from Novak Biddle Venture Partners. The investment will be used to increase marketing and expand technological development, Hammersla said. Both the company and Novak Biddle declined to reveal terms of the investment.
Trusted Computer Solutions started 10 years ago and built a profitable business by producing secure software and hardware for government agencies dealing with classified material. But with the rise in demand for security products after Sept. 11, 2001, the company has focused on expanding into other realms.
“This technology has been used for years to share information within the intelligence community,” Hammersla said. “9/11 allows us to accelerate the growth we’ve already seen by offering it to civil agencies. We’ve essentially doubled our market. There’s really no difference between sharing information with a coalition partner, like England, and a first responder.”
Hammersla approached Novak Biddle not because Trusted Computer Solutions needed capital, but because he hoped the group would help him move into new markets.
“The company wanted an investment to accelerate their expansion into commercial markets,” said Andrea S. Kaufman, a partner at Novak Biddle. “We understand how to bring technology used in the defense industry to commercial enterprises.” E. Rogers Novak Jr., a founder of the venture capital firm, will be joining Trusted Computer Solutions’ board.
But although spending in homeland security has exploded in the past two years, the success of companies like this one are not guaranteed.
“A lot of companies expecting mega-bucks from the government may be disappointed,” said Jack Mallon, managing director of Mallon Capital LLC, an investment bank focused exclusively on security industries. Municipalities responsible for civil agencies might prefer working with large defense companies that are now moving into the security sector, Mallon said.
But Trusted Computer Solutions, which competes against small companies, government programs and defense giants like Lockheed Martin Corp., has proprietary technology that has already proven itself in the marketplace, Hammersla said.
Vienna-based Convera Corp., a software company, announced it will raise $17 million through a private placement, selling about 4.7 million shares to institutional investors at $3.60 each. Convera said the proceeds will be used for general corporate purposes, including potential acquisitions. Convera’s stock trades on the Nasdaq Stock Market.
ATM National Inc., a Bethesda-based company building a surcharge-free network of automated teller machines, has received $1.1 million in a third round of funding. Investors include Active Angel Investors, Maryland Angels Council and Chesapeake Private Equity. Funds will be used to expand customer acquisition programs, marketing and promotions activity and network operations.
Reston-based ComScore Networks Inc., a provider of online consumer-behavior tracking services, has raised $12 million in its fifth round of venture capital funding. Investors included Accel Partners, Adams Street Partners, J.P. Morgan Partners, Flatiron Partners, Institutional Venture Partners, Topspin Partners and vSpring Capital. The company also announced it achieved a profit for the first time since the company’s founding more than three years ago.
Reported By TechNews.com, http://www.TechNews.com
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