Emerging Technology
PR Newswire | July 31, 2023
NewSpring Holdings leverages proven organic growth strategies and a disciplined M&A process to accelerate growth in sector-specific markets, including logistics, fin-tech, government services, IT services, and sports. The team has completed over 40 acquisitions and successfully built a government services platform, Avantus Federal,which recently sold for$590M.NewSpring("the Firm"), a family of private equity strategies, announced today that NewSpring Holdings, the Firm's majority investment strategy focused on sector-specific platform builds, has acquiredBridge Core, a leading provider of visual intelligence, cybersecurity, and other technical solutions to the U.S. government intelligence community. Bridge Core will use the proceeds of this transaction to execute a disciplined M&A and aggressive organic growth strategy to create a full-spectrum, technology-enabled intelligence company.
Alongside this transaction, Chad Kim has been named CEO of Bridge Core. Chad has spent over two decades supporting the intelligence community and interagency task force apparatus in diverse worldwide roles spanning from operations to analysis. This has provided Chad with a unique breadth of experience, mission intimacy, and relevant capability expertise. He also has an extensive track record in scaling organizations capable of building industry-disrupting technology for defense, intelligence, and commercial clients, most recently with former NewSpring portfolio company Avantus Federal. Bridge Core founders Tyler Laverick and Andy Rackovan will stay on with the company in key leadership roles.
"In the creation of a full-spectrum intelligence company, we're proud to begin our journey with Bridge Core, a company whose values and culture are closely aligned with my own and the team at NewSpring," said Kim. "Bridge Core treats its team members like family, fosters a strong work ethic, and consistently delivers mission impact in a nurturing environment that attracts and retains the best talent in the industry. Tyler and Andy have built an amazing company filled with savvy technologists and intelligence professionals, and we're thrilled to continue growing this business alongside them."
Bridge Core leverages a unique tech-to-mission concept, agility, and speed in delivering services that drive true value for its intelligence agency clients. Established expertise in visual intelligence, technology transfer, cybersecurity, and technical operations positions Bridge Core well to add on additional services and expand into a full-service agency serving a broad range of needs facing the intelligence community.
"An era of rapidly proliferating and converging data presents unique, evolving challenges for the intelligence community. More than ever, we see the crucial role of a holistic solutions partner capable of elevating the transformation of data into precise and impactful insights for the numerous mission sets of the U.S. government.," said NewSpring General Partner Lee Garber. "Our partnership with Bridge Core, a true market leader, aligns with our core vision to innovate within the national security space, where there is significant growth potential. Combined with Chad's leadership and extensive experience delivering mission outcomes with technology in the intelligence community, we're excited for the future of this business."
"In 2015, Andy and I set out to build a company focused on empowering and fostering a transparent culture, giving everyone a seat at the table to define our success," said Bridge Core Cofounder Tyler Laverick. "Eight years later, we realized it was time to join forces with a team that embodied what we built at Bridge Core and have found the perfect partner in NewSpring to help scale this business and further raise our impact on critical intelligence missions. We're excited about this new era for Bridge Core and look forward to taking this business to the next level."
About NewSpring
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.
About Bridge Core
Bridge Core is a federal services company built on a culture of trust and teamwork to advance the mission through innovation and passionate people. The Bridge Core team of experts enable Mission Partners by integrating innovative technologies and implementing processes that modernize the digital workplace. The Company's trusted, skilled, and diverse team members make a lasting impact by building tailored, client-focused solutions within secured spaces. The Bridge Core team facilitates the rapid adoption of technologies and commercial off-the-shelf (COTS) solutions through a unique understanding of mission requirements and the vendor's product(s).
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Emerging Technology
Business Wire | September 14, 2023
OPEXUS, formerly known as AINS, LLC, and leader in government process management software, today announces it has attained StateRAMP authorization for eCASE®, a built-for-government case management solution that streamlines workflows and accelerates key government processes.
StateRAMP was established in 2020 to efficiently verify that service providers meet the cloud security standards required to do business with state and local governments. The StateRAMP verification process, built upon the widely accepted National Institute of Standards and Technology (NIST) Special Publication 800-53 framework, and independently audited by a reputable third-party assessment organization (3PAO), ensures the highest level of security and compliance. Achievement of this authorization underscores the company's dedication to supporting state and local governments with cutting-edge technology that enhances productivity, flexibility, and collaboration.
With this certification, OPEXUS will empower state, local, and educational (SLED) agencies to elevate trust in public institutions with dynamic case management and rapid application development technology that was purpose-built for the government. OPEXUS supports public sector human resources teams by providing an umbrella of workforce management tools that include eCASE® EEO/eComplaint and eCASE® ER/LR. The company also offers eCASE® Audit and eCASE® Investigations, case-management tools built specifically for government auditors and investigators.
"State and local government agencies experience many challenges keeping pace with private sector advancements in technology, cyber security, and data security software – from long purchasing timelines to budget constraints, but they cannot compromise on security,” said Howard Langsam, CEO of OPEXUS. “By demonstrating our security qualifications through StateRAMP, we are removing one more barrier to these agencies being able to purchase cloud solutions that meet both their operational and security requirements.”
In 2014, OPEXUS attained FedRAMP authorization at the moderate level for its eCASE®, eCASE® COTS and FOIAXpress® solutions, including Audit, Investigations, Employee & Labor Relations, and EEO Complaints. The company has also achieved Defense Information Systems Agency Impact Level 2 (DISA IL2), FISMA, NIST 800-53 Revision 4, and FIPS certifications.
About OPEXUS
Get government unstuck with OPEXUS. OPEXUS is the leader in FedRAMP-certified government process management software with more than 30 years of experience supporting public institutions. The company brings operational excellence to governments’ middle office so agencies can focus on the critical work of mission delivery. OPEXUS empowers 100,000 government users with exceptional technology experiences and a built-for-government product suite, including solutions for audit, investigations, correspondence, Freedom of Information Act (FOIA) requests, and employee and labor relations. Located in the heart of Washington D.C., OPEXUS works with more than 150 public institutions in the US and Canada.
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Government Business
Globenewswire | July 10, 2023
Worksport Ltd. is excited to announce their strategic business relationship with McAllister & Quinn. McAllister & Quinn is a federal government relations and grants consulting firm that serves as Worksport’s “boots on the ground” in Washington, DC.
McAllister & Quinn offers services to identify, strategically plan for, and pursue federal funding opportunities and advocate for federal policy issues aligned with Worksport’s strategic priorities and goals.
The government is continuing to make historic investments in advanced technology through programs such as the Bipartisan Infrastructure Law (BIL), the Inflation Reduction Act (IRA), and Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act. These programs and others like them have several focus areas, including:
Securing domestic manufacturing of critical technologies for decades to come,
Reducing the environmental impact of conventionally hazardous manufacturing processes, and
Bolstering the clean energy industry to ensure a sustainable future.
McAllister & Quinn’s strategic intelligence professionals provide targeted, timely, and actionable assessments of these federal funding trends and developments, including analyses of the annual budget and appropriations process; key R&D policy and legislative updates; landscape analyses for key priority areas; sponsor and program analyses; and daily monitoring of forecasted and new funding opportunities, requests for information, federal advisory committee meetings, and notices of funding opportunities.
"Partnering with McAllister & Quinn marks an exciting milestone for Worksport, equipping us to strategically navigate and capitalize on historic federal investment opportunities," said Steven Rossi, CEO of Worksport. "This alliance fortifies our commitment to sustainable innovation and positions us to generate lasting, positive impacts on the communities we serve."
McAllister & Quinn tailors their analyses and reporting to issues of interest to Worksport and assists in evaluating and aligning Worksport initiatives with federal funding opportunities. The federal government’s investments also allows its funding recipients to have an opportunity to generate a lasting impact on the communities in which they reside. The Advanced Technology Practice at McAllister & Quinn is committed to having a positive impact in both Worksport’s business and the community they serve.
About Worksport Ltd.
Worksport Ltd. through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport Ltd. seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. For more information, please visit investors.worksport.com
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