Jul 12, 2011
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Investment to increase sales & marketing for membership management software, payment solutions leader
LAWRENCEVILLE, NJ, July 12, 2011 – Edison Ventures completed a $2 million follow-on investment in MotionSoft based in Silver Spring, MD. Cumulatively, Edison invested $8.5 million as sole investor. Proceeds will increase development, sales and marketing.
The Company is a leading provider of Software-as-a-Service (SaaS) and payment solutions to the health and wellness industries. MotionSoft was recently ranked among America’s 5000 fastest growing private companies by Inc. Magazine. Clients include Equinox, Crunch, Gold’s Gym, Duke Fitness Center and Starbucks. The company also received the 2011 Associate IHRSA Member of the Year Award.
“This management team is recognized as thought leaders and innovators in their industry,” stated Gary Golding, General Partner, Edison Ventures. “Customers continue to praise MotionSoft’s solutions and exceptional service,” added Tom Vander Schaaff, Partner, Edison Ventures, who led diligence. Gary Golding and George Pappas, Edison Director Network member, serve on the board of directors. Pappas was EVP Sales for Presidium Learning a recent successful Edison exit.
“Edison has shown a consistent commitment to Motionsoft,” commented Al Noshirvani,CEO, Motionsoft. “With this capital and Edison’s continued guidance, MotionSoft looks forward to expanding our presence and state of the art solutions.”
Edison invested in 26 Interactive Marketing and eCommerce businesses. Active portfolio companies include Billtrust, Cadient, ClearPoint, Fishbowl Marketing, Lifebooker, PHX, Plumchoice, Softgate and Verilogue. High return exits and Maryland IPO successes include Axent, Dendrite, Visual Networks and Vocus.
About MotionSoft
Motionsoft is a leading provider of Software-as-a-Service (SaaS) and financial solutions to the health andwellness industries. Recently recognized in Inc. magazine’s annual 500/5000 report as one of the fastestgrowing private companies in America, the company serves nearly 2000 clients in the USA, Mexico,Canada, and Europe, including commercial gyms, family activity facilities, schools, universities andhospitals/corporate-based wellness facilities. http://www.motionsoft.net/
