In November of 2007, Updata Partners completed the final close of Fund IV at $223 million, bringing total active funds under management to nearly $500 million. As we begin investing out of Fund IV, we will continue our focus on… read more>>
Partnership Promotions Announced: Rich Erickson and Carter Griffin
Concurrent with the closing of Fund IV, we are pleased to announce that Rich Erickson has become a General Partner and Carter Griffin has been promoted to Partner… read more>>
Portfolio Update: LogiXML
Updata recently completed a $5 million investment in Mclean, Virginia-based, LogiXML, Inc. The web-based business intelligence company’s first institutional funding will be used to expand sales and distribution in key U.S. and international markets… read more>>
New Team Members: Arie Abecassis, Jonathan Chin, Kevin Reilly
We welcome three new team members who have recently joined Updata to drive our investment identification and due diligence efforts and provide support to financial operations:
Arie Abecassis Vice President, Head of Business Development read more>>
In November of 2007, Updata Partners completed the final close of Fund IV at $223 million, bringing total active funds under management to nearly $500 million. As we begin investing out of Fund IV, we will continue our focus on rapidly growing, market-leading software and software-enabled technology companies, with the following characteristics:
strong barriers to entry such as core intellectual property, deep domain knowledge and/or significant market share;
innovative technology and participation in high-potential markets;
market acceptance demonstrated by established revenue or business momentum;
an economically appealing business model with potential for strongly expanding gross margins; and,
strong, entrepreneurial management open to constructive investor involvement.
Concurrent with the closing of Fund IV, we are pleased to announce that Rich Erickson has become a General Partner and Carter Griffin has been promoted to Partner. As former CEOs of information technology companies, Rich and Carter apply their experience to Updata’s sector-focused investment strategy, identify new opportunities and provide operational, entrepreneurial and financial expertise to our portfolio companies.
Rich is based in Updata’s Edison, New Jersey office and sits on the boards of directors of Updata portfolio companies, Acclaris, HotGigs, Interactions and Red Vision. He joined Updata in 2004, bringing more than 20 years of executive experience in the IT industry. As President and CEO of AlphaNet Solutions Inc., Rich drove the restructuring and sale of the publicly-held IT outsourcing company to CIBER. Prior to this, he led a similar effort at iXL, an Internet application consulting firm, in its public-to-public company merger with Scient. From 1987 until 1997, as one of two principals of Digital Network Associates (DNA), a private network and systems integrator, he guided the growth of the company through its ultimate sale to United States Office Products. Rich started his career at Excelan, one of the TCP/IP Internet network pioneers. He holds a B.S. in mechanical engineering from Villanova University.
Carter is based in Updata’s Reston, Virginia office and sits on the boards of directors of Updata portfolio companies, iContact, LogiXML and Nimaya and is a board observer for Appfluent and CoreStreet. Carter joined Updata in December of 2005 as former Chairman and CEO of Brivo Systems, a security software company that was sold to Duchossois Enterprises Group. During his tenure at Brivo, he raised over $30 million in multiple rounds of equity and debt financing from venture capitalists, strategic partners and angel investors. Prior to Brivo, Carter spent four years as a senior vice president at strategic consulting firm Kaiser Associates. Earlier in his career, he worked in London for the Coca-Cola Company and held positions at American Management Systems and Arthur Andersen. Carter holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University and a B.S. from the University of North Carolina at Chapel Hill.
In December of 2007, LogiXML, Inc. (www.logixml.com), the leader in Web-based Business Intelligence secured $5 million from Updata Partners in its first institutional funding. The company has enjoyed dramatic growth over the last three years and Updata’s investment will be used to take advantage of domestic and international market opportunities for the Logi 8 Business Intelligence platform. In conjunction with the funding, Carter Griffin, Partner at Updata Partners, has joined LogiXML’s Board of Directors.
We welcome three new team members who have recently joined Updata to drive our investment identification efforts and provide support to financial operations.
Arie Abecassis Vice President, Head of Business Development
As Vice President, Head of Business Development, Arie will lead Updata’s sector-focused research and outreach to prospective portfolio companies. Prior to joining Updata Partners, Abecassis was a Managing Director at Research Partners, Ltd., an investment firm focused on small to mid-sized businesses in the information and technology markets. In addition to identifying investment opportunities and helping manage the firm’s portfolio of companies, he also served as interim CEO of CDR LLC, an information services company. Previously, at Thomson Financial Ventures, Abecassis actively participated in executing and supporting growth-stage investments in a portfolio of leading technology companies including CCBN, Creditex Inc. Trepp LLC, Financeware Inc. and Javelin Technologies. Abecassis holds an M.B.A. from New York University's Stern School of Business, where he was a Stern Scholar and Beta Gamma Sigma member, and an undergraduate degree from the University of Pennsylvania's Wharton School of Business... read bio>>
Jonathan Chin Analyst
Jonathan supports Updata’s business development, deal sourcing, and due diligence efforts. Before joining Updata, he worked with BMO Capital Markets' Investment Banking group in the Business Services and Education team, where he focused on transaction sourcing and execution in the human capital management, education, and marketing services verticals. Jonathan earned a B.S. in management and finance cum laude from the New York University Leonard N. Stern School of Business… read bio>>
Kevin Reilly Senior Fund Accountant
Kevin supports Updata’s accounting and financial reporting processes and systems. Prior to joining Updata, Kevin was a financial analyst at Verizon Wireless, where he held various roles focusing on assisting internal and external auditors, documenting control procedures for Sarbanes-Oxley, analyzing P&L and balance sheet trends and supporting the organization's financial systems conversion. Kevin earned a B.S. in finance from Rider University… read bio>>
Rich is based in Updata’s Edison, New Jersey office and sits on the boards of directors of Updata portfolio companies, Acclaris, HotGigs, Interactions and Red Vision. He joined Updata in 2004, bringing more than 20 years of executive experience in the IT industry. As President and CEO of AlphaNet Solutions Inc., Rich drove the restructuring and sale of the publicly-held IT outsourcing company to CIBER. Prior to this, he led a similar effort at iXL, an Internet application consulting firm, in its public-to-public company merger with Scient. From 1987 until 1997, as one of two principals of Digital Network Associates (DNA), a private network and systems integrator, he guided the growth of the company through its ultimate sale to United States Office Products. Rich started his career at Excelan, one of the TCP/IP Internet network pioneers. He holds a B.S. in mechanical engineering from Villanova University. 
Carter is based in Updata’s Reston, Virginia office and sits on the boards of directors of Updata portfolio companies, iContact, LogiXML and Nimaya and is a board observer for Appfluent and CoreStreet. Carter joined Updata in December of 2005 as former Chairman and CEO of Brivo Systems, a security software company that was sold to Duchossois Enterprises Group. During his tenure at Brivo, he raised over $30 million in multiple rounds of equity and debt financing from venture capitalists, strategic partners and angel investors. Prior to Brivo, Carter spent four years as a senior vice president at strategic consulting firm Kaiser Associates. Earlier in his career, he worked in London for the Coca-Cola Company and held positions at American Management Systems and Arthur Andersen. Carter holds an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University and a B.S. from the University of North Carolina at Chapel Hill.
In December of 2007, LogiXML, Inc. (
As Vice President, Head of Business Development, Arie will lead Updata’s sector-focused research and outreach to prospective portfolio companies. Prior to joining Updata Partners, Abecassis was a Managing Director at Research Partners, Ltd., an investment firm focused on small to mid-sized businesses in the information and technology markets. In addition to identifying investment opportunities and helping manage the firm’s portfolio of companies, he also served as interim CEO of CDR LLC, an information services company. Previously, at Thomson Financial Ventures, Abecassis actively participated in executing and supporting growth-stage investments in a portfolio of leading technology companies including CCBN, Creditex Inc. Trepp LLC, Financeware Inc. and Javelin Technologies. Abecassis holds an M.B.A. from New York University's Stern School of Business, where he was a Stern Scholar and Beta Gamma Sigma member, and an undergraduate degree from the University of Pennsylvania's Wharton School of Business... 
Jonathan supports Updata’s business development, deal sourcing, and due diligence efforts. Before joining Updata, he worked with BMO Capital Markets' Investment Banking group in the Business Services and Education team, where he focused on transaction sourcing and execution in the human capital management, education, and marketing services verticals. Jonathan earned a B.S. in management and finance cum laude from the New York University Leonard N. Stern School of Business… 
Kevin supports Updata’s accounting and financial reporting processes and systems. Prior to joining Updata, Kevin was a financial analyst at Verizon Wireless, where he held various roles focusing on assisting internal and external auditors, documenting control procedures for Sarbanes-Oxley, analyzing P&L and balance sheet trends and supporting the organization's financial systems conversion. Kevin earned a B.S. in finance from Rider University…