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."
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).
Government Business, Cybersecurity
businesswire | August 17, 2023
CoSo Cloud LLC (CoSo), a Class Technologies company, and leading provider of secure, private-cloud managed services and custom applications for high-consequence eLearning and virtual training, today announced its platform has received StateRAMP authorization for leading eLearning and virtual classroom offerings from Adobe® and Class Technologies. This milestone achievement enables all U.S. state government agencies reliant on public tax dollars to make assured investments in and harness the utmost level of secure technology for government training and education.
StateRAMP is a critical cloud security assessment and authorization program designed to address the specific technology and compliance requirements of state and local governments. With this authorization, state government agencies and publicly funded educational institutions are now equipped with the highest levels of security and compliance, aligning seamlessly with the stringent requirements to protect government and citizen data. CoSo Cloud's StateRAMP authorization builds upon CoSo’s FedRAMP security authorizations for Federal Government agencies, and represents a significant industry advancement in secure eLearning and virtual training solutions, further reinforcing the company's position as a preeminent and trusted partner for public sector organizations.
"The CoSo Secure Private Cloud Platform has the most secure and compliant authorizations in the industry,” said David Nelson, Head of Cyber Security at CoSo Cloud. “With the StateRAMP authorization, customers who rely upon Class and Adobe for virtual training and eLearning are now able to deploy their training and education initiatives with the utmost confidence and security."
CoSo Cloud's StateRAMP-compliant offerings come equipped with robust data encryption, secure access controls, continuous monitoring and regular audits to ensure ongoing adherence to the highest security standards. As a result, government agencies can leverage the innovative tools that CoSo manages to optimize their workforce training, professional development, and educational programs without compromising on security or compliance.
About CoSo Cloud
CoSo Cloud LLC, a Class Technologies Inc. company, provides secure private-cloud managed services, custom software applications, and expert professional services for high-consequence virtual training and eLearning. Global enterprises and government agency customers rely on CoSo to complete their Adobe Connect, Adobe Learning Manager and Class solutions when security, compliance, and reliability requirements demand more from virtual meetings and learning management systems. CoSo Cloud is an Adobe, Class Technologies, SAP, and Zoom partner.
Emerging Technology, Infrastructure
Businesswire | July 25, 2023
Clarius Mobile Health, a leading provider of high-definition handheld ultrasound systems, has been selected by the Government of Canada to participate in the new Global Hypergrowth Project (GHP), powered by the Federal Ministry of Innovation, Science, and Economic Development. GHP is designed to help the country’s most promising scale-up companies to further fuel their growth with the support of a team of experts with extensive public and private sector experience.
“Canada wins when cutting-edge companies keep operations, profits, and jobs here at home. And when they scale up around the world, they signal that Canada is open for business,” said Minister Mary Ng. “With the Global Hypergrowth Project, we're doubling down on Canada's most promising firms, to help them scale up, from here.”
Clarius has an ambitious mission to improve patient care globally and reduce healthcare costs by enabling clinicians to instantly look into a patient’s body to confidently diagnose disease and enhance procedural safety. The company was the first to develop a high-definition pocket-size wireless ultrasound scanner that works with an app on Apple and Android smart devices. Since Clarius began selling its ultrasound scanners in 2016, more than 20,000 clinicians have used them performing more than 3.8 million scans. Clarius currently employs over 150 people at its headquarters, an innovation center and manufacturing facility in Vancouver, British Columbia.
“We share the government of Canada’s goal to build a vibrant, local medical technology community and we’re extremely honoured to be one of a select few innovative companies in Canada chosen to participate in the Global Hypergrowth Project,” said Clarius CEO Ohad Arazi. “Having our government’s support for funding, international expansion, access to government procurement projects, and more will help rapidly accelerate our growth. Our team is energized to be recognized as one of Canada’s 15 most promising companies!”
Minimum criteria for participation in the GHP include: annual revenues of $30 million; 40% gross margin; 30% revenue compound annual growth over the last three years; and headquarters in Canada with at least 60% employees based in the country. Clarius underwent a rigorous selection process to demonstrate its ability to execute on growth ambitions and prove its potential to seize opportunities for global leadership and to create and maintain highly-skilled jobs in Canada. Clarius was selected by a volunteer panel of notable Canadian business leaders appointed by Innovation Canada.
Clarius is the only ultrasound company to offer 10 AI-powered models of handheld ultrasound scanners designed for a broad range of medical specialists including orthopedic surgeons, aesthetic clinicians, emergency physicians, and veterinarians.
About Clarius Mobile Health
Clarius is on a mission to make accurate, easy-to-use, and affordable ultrasound tools available to all medical professionals in every specialty. With decades of experience in medical imaging, the team knows that great ultrasound imaging improves confidence and patient care. Today, Clarius handheld wireless ultrasound scanners connect to iOS and Android devices, delivering high-resolution ultrasound images traditionally only available with bulkier, high-end systems at a fraction of the cost. Three million high-definition scans have been performed using Clarius wireless handheld scanners. Clarius scanners are available in over 90 countries worldwide. Learn more at www.clarius.com.
Businesswire | July 17, 2023
Juvare®, the leader in situational awareness and critical incident preparedness and response technology, today announced the launch of the Juvare Unified Command Platform™ (UCP), part of its new Juvare Federal & Defense (JFD) business unit. The platform enables federal and defense agencies to improve real-time situational awareness, facilitate secure interagency collaboration, and digitize workflows as part of public sector digital modernization efforts. The FedRAMP® High authorized version of UCP is available on the FedRAMP marketplace through Juvare Federal Cloud.
“UCP demonstrates our commitment to deliver modern and secure technology solutions that improve collaboration and operational efficiency while simultaneously strengthening our nation's cyber infrastructure,” said Robert (“Bob”) Watson, CEO of Juvare. “Not only does the platform meet the highest standards in information security, it does so while also delivering modern, easily adaptable, user-friendly software.”
UCP delivers pre-built workflows such as case management, evacuation and communication coordination, law enforcement availability pay, paper and policy tracking, protective detail assignments, and scalable exercise simulation and facilitation that can be easily configured by each agency. This accelerates speed to value by ensuring that agency time and resources are spent meeting goals instead of solving recurring workflow problems.
“UCP is much more than just a workflow and visualization application,” said Patrick Macfarlane, Chief Operating Officer of Juvare Federal & Defense. “It's a single solution that replaces manual processes with automated, secure, and scalable workflows. By collecting data from multiple sources and providing an aggregate view on a single pane of glass, UCP enables swift and informed decision-making and ensures that agencies have AI-ready data for further analysis and augmentation.”
In addition to pre-built workflows, UCP incorporates a dynamic set of integrations and plug-ins designed to support data visualization, collaboration, and predictive analysis. Integrated within the UCP are powerful components such as Juvare Exchange® (JX) for robust collaboration and networking, JX Analyze for in-depth business intelligence, JX Connector for enhanced interagency data integration and aggregation, and world-class geospatial capabilities that support advanced predictive modeling for assessing the potential impacts of weather events.
“UCP aligns with the specific data security requirements of the U.S. government, providing secure access between federal and defense agencies for seamless data integration, collaboration, and a shared common operating picture,” said Patrick Lane, President, Juvare Federal & Defense. “The platform embodies Juvare's unwavering resolve to innovate, ensuring the development of robust solutions that contribute to the security of our nation.”
Juvare is a worldwide leader in crisis management software. Juvare solutions empower government agencies, corporations, healthcare facilities, academic institutions, and volunteer organizations to leverage real-time data to manage incidents faster and more efficiently, protecting people, property, and brands. For more information, visit http://www.juvare.com.