o Lead Edge Capital Makes Major Investment in DC-based Cove
o Columbia-based TeamWorx Security Receives $500,000 From TEDCO
o Bethesda-Based BrainScope Names Ralph Terkowitz as Chairman
o FVLCRUM-Backed FBR Solutions Names Matthew Glass as CEO
o Briefly Noted: ASRC Federal, VPT, D-Fend Solutions
DC-based Cove Receives Significant Investment from Lead Edge Capital
Washington, DC – Cove, a DC-based commercial property management software firm, announced that it has received a significant investment from New York private equity firm Lead Edge Capital. The amount of the investment was not disclosed. Previous investors in Cove have included Nuveen Real Estate and Blackstone Innovations Investments. Cove’s software platform is used by a variety of different actors in the commercial real estate space, including property managers, landlords, and engineers.
“Cove combines building operations and tenant experience into one seamless platform,” said Adam Segal, co-founder and CEO of Cove. “With the support of our investors, Cove will expand our product to further simplify how real estate is managed and experienced. Our top priority is to support and empower owners and operators to do their job more effectively.”
Columbia-based TeamWorx Security Receives $500,000 From TEDCO
Columbia, Md. – TEDCO, the Maryland economic development agency, has made a $500,000 investment in Columbia-based TeamWorx Security, a cyber security startup. The investment came from TEDCO’s Venture Funds. Using AI-enabled threat information, TeamWorx has developed a community-driven platform for protecting critical information.
“In a world where technology is instrumental in our daily lives, it is essential that we create ways to protect sensitive information,” said Chris Anthony, CEO of TeamWorx. “With TEDCO’s investment, we will continue our journey towards building AI-enabled solutions to real-world problems.”
Bethesda-Based BrainScope Names Ralph Terkowitz as Chairman
Bethesda, Md. – BrainScope, a Bethesda-based developer of AI-enabled technology used for brain health assessment, has named board member Ralph Terkowitz as its new chairman. Terkowitz is a former general partner at ABS Capital Partners who also serves on the board of The 10,000 Brains Project and is co-chairman of The Robert Packard Center for ALS Research at Johns Hopkins. The company also announced Mike Genau, the former president of Medtronic’s Americas region, and Brian Shea, the head of origination at Aon Advantage Funds, as new board members. The news comes as BrainScope has launched its new deep learning platform, which it says can quickly deliver actionable insights across brain health conditions such as concussion, stroke and Alzheimer's.
FVLCRUM-Backed FBR Solutions Names Matthew Glass as CEO
Bethesda, Md. – FBR Solutions, a provider of telecommunications infrastructure services backed by Bethesda-based private equity firm FVLCRUM Funds, has named Matthew Glass as its new CEO. Glass most recently served as the executive vice president and COO of Bluestream Professional Services, and also previously held leadership roles at Nexius and Wireless Facilities. FBR, based in Georgia, focuses on network design, engineering, construction and deployment.
Briefly Noted
(Reston, Va.) Reston-based ASRC Federal, a provider of technology services to federal civilian, defense and intelligence agencies, on Thursday named former Boeing executive Ann Stevens as its chief strategy officer. Stevens previously spent more than 20 years at Boeing, leading programs and teams across the federal defense and civilian government markets.
(Blacksburg, Va.) Blacksburg-based VPT, a maker of power converters and filters for avionics, military and space applications, has named Trevor Rice as its vice president of North American sales. Rice previously spent 16 years as the director of sales at XP Power, and began his career at Blacksburg-based Luna Innovations.
(McLean, Va.) D-Fend Solutions, an Israel-based developer of counter-drone takeover technology with U.S. headquarters in McLean, has named Uri Nisani as its vice president of R&D and Pini Gvili as its vice president of operations. Nisani previously served as the vice president of R&D at Radware and KayHut, and Gvili held executive roles at Allot and Terayo.