Publications & News

Tri-State Region's Top Emerging Technology Companies Announced

April 28, 2004

PRINCETON, N.J.—April 28, 2004—As part of the 2004 Hi-Tech Pioneers program, law firm Hale and Dorr LLP, accounting and tax firm KPMG LLP, TWC company NextStage Advisors, and Silicon Valley Bank today announced dotPhoto, Iridian Technologies, Tacoda Systems, and TurnTide as the tri-state’s top emerging technology companies. The annual awards program ranks the region’s leading life science and technology companies based on uniqueness, market desirability, management team quality, funding and technological or market success.

“The model of bringing well-qualified investors and entrepreneurs face-to-face in an intimate setting is unmatched,” adds said Terry Williams, president and CEO of TWC and co-founder of NextStage Advisors. “The Hi-Tech Pioneers program provides a focused forum for investment, while mitigating risk. It’s especially beneficial given its stringent criteria for winner selection.”

This is the second year for the Hi-Tech Pioneers program, which was jointly conceived and developed by Hale and Dorr, KPMG and TWC, NextStage’s parent company. Last years’ inaugural event honored Linguagen Corporation, a company that researches, discovers, develops and commercializes breakthrough products that improve the palatability of oral medicines and enhance the flavor of foods and beverages; Octagon Research Solutions, a leading process-centric solutions provider that offers a suite of regulatory, clinical, process and IT solutions to the life sciences industry; and Quantiva, the leading provider of automated analysitics for application performance management.

“We were very impressed by the caliber of companies that submitted applications this year,” said Kathleen Coviello, VP and relationship manager, Silicon Valley Bank. “The winners are true market leaders in their business categories. They deserve a warm congratulations for their hard work and perseverance in a challenging economy.”

“The Hi-Tech Pioneers program serves a much higher purpose than just fundraising,” said Brian F. Hughes, KPMG partner in charge of technology and life sciences in Philadelphia. “Its broad aim is to identify–and to help build–successful companies.”

“Ultimately, the program positively impacts economic growth,” adds Hughes. “It strengthens the tri-state’s position as a center for technological innovation.”

The four award-winning companies will make presentations on May 19, 2004, to a group of leading venture capitalists at a private reception. Last years’ winners will be invited as honored guests.

About dotPhoto

Launched in 1999, dotPhoto, Inc. is a privately-held online photo-printing, sharing and image e-commerce portal where members can print, share and sell digital photos online or via their wireless phone. dotPhoto® offers users the ability to add sound, text and voice to their online images; organize them into their own portfolio, album or dotPhoto ShowTM; arrange for secure access by friends, family members and business associates; and sell downloads or prints of their images at prices they determine -- then send funds from the sale directly to the photo owner's bank account. dotPhoto customers can also create and sell photos in frames or applied to mugs, T-shirts, and other popular gift items. The Company’s patent-pending “talking pictures” technology greatly enhances the process of photo-sharing on the Internet, enabling a more realistic and human digital photography experience.

dotPhoto Pictavision® is the lead photo viewing application for BREW and JAVA cell phones, and is available on all major cellular carriers.

For businesses, dotPhoto offers a full range of digital photography processing and storage solutions with both online and wireless access. The Company’s state-of-the-art high-speed digital processing system enables rapid file transfer, processing and print output of digital images to custom print formats. Corporate customers can also utilize dotPhoto’s dynamic “talking pictures” technology and the dotPhoto Show to enhance their marketing and presentation efforts. For more information, visit www.dotPhoto.com and www.Pictavision.com

About Iridian Technologies
Iridian Technologies, Inc. of Moorestown, NJ commercializes software for iris recognition - renowned as one of the most accurate biometric identifiers. The holder of US and international patents behind iris recognition technologies, Iridian offers unparalleled security for public-use applications such as simplified passenger travel, border control, national IDs, restricted access and information access solutions. Iridian’s software leverages algorithms originally developed by Dr. John Daugman of Cambridge University. Iridian's Proof Positive(TM) hardware and software certification program assures that certified iris cameras and software solutions meet critical standards for performance, interoperability, safety, security, scalability, usability and reliability. For more information, visit www.iridiantech.com.

About TACODA Systems
TACODA Systems is the industry pioneer in behavioral targeting and audience management, serving more clients with more sites and a larger audience than any other company in the world. Based in New York City, the privately held company develops and produces programs and strategies that enable media companies with significant online channels to increase the value of the audiences they sell to advertisers and e commerce partners. In less than three years more than 250 TACODA-enabled Web sites reach over 70 percent of the North American Internet audience. TACODA Systems has a score of corporate customers, all Fortune 1000 businesses, and includes eight of the top 20 newspaper companies in the US.

TACODA Systems’ clients include: Primedia’s About.com; McGraw-Hill’s BusinessWeek.com; iVillage, Belo Interactive; Advance Publications, Inc.’s CondeNet and Advance Internet; Hearst Corporation’s Albany Times-Union.com and SF Gate.com; Hollinger International; Media General; Morris Communications, Landmark Communications’ Pilot Online and The Weather Channel’s weather.com; E.W. Scripps Company's Scripps Networks and Scripps Newspapers; Torstar; Tribune Interactive; and Gannett’s USAToday.com.

About TurnTide™
TurnTide™ offers a unique, patent-pending, anti-spam system–Anti Spam Router (ASR)–that eliminates the volume of spam sent to its customers’ networks. Sitting at the edge of a network, TurnTide ASR is able to identify which senders are spammers and limit the resources that the TurnTide-protected network provides them. Since the receiving network does not provide the spammers with the resources needed to receive the spam they want to send, the spam has no where to go and cannot leave the spammer's server. TurnTide has reduced inbound spam volume by an average of 90% for clients including major enterprises such as Edward Jones and Drexel University, and service providers including Cellular One AZ, Iowa Telecom, Athenet and Aristotle. The company is headquartered just outside of Philadelphia, PA and its website is at www.TurnTide.com.

About Hale and Dorr LLP
Hale and Dorr is nationally and internationally recognized for its experience in venture capital, initial public offerings, intellectual property and securities and intellectual property litigation. As a leading technology and life sciences law firm, we represent clients in numerous sectors including telecommunications, software, electronics, life sciences and medical devices. The firm’s full-service practice also includes tax, commercial, labor and employment, real estate, environmental, government and regulatory affairs and private client services, and a strong commitment to public service dating from our founding more than eighty years ago. Hale and Dorr has more than 500 lawyers with offices in Boston, London, Munich, New York, Oxford, Princeton, Reston, Waltham and Washington. For more information please visit our website at www.haledorr.com.

About KPMG
KPMG LLP is the accounting and tax firm that has maintained a continuous commitment throughout its history to providing leadership, integrity and quality to the capital markets. The Big Four firm with the strongest growth record over the past decade, KPMG offers clients the scale, global reach, industry insights, and multidisciplinary range of services they demand. KPMG LLP (www.us.kpmg.com) is the U.S. member firm of KPMG International. KPMG International’s member firms have nearly 100,000 professionals, including 6,600 partners, in 150 countries.

About NextStage Advisors
NextStage Advisors, a TWC Company, is a business advisory firm that helps early- and growth-stage companies increase their probability for funding. Services are offered as part of a three-stage process: Business Model Assessment, Growth Roadmap Development and Investment Preparation. The keys to NextStage’s success are four-fold. First, the NextStage team has experience as both VCs and entrepreneurs, placing more than $300M in venture capital. Second, NextStage provides its clients with real, objective counsel and tools to help them grow. Third, NextStage’s team is backed by a proven methodology that focuses on fundamental business improvements that have meaning to potential investors. Fourth, NextStage is connected. They have a valuable network of professionals that are ready to invest in companies with good products, services and management teams.

About Silicon Valley Bank
Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and premium wine markets. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves more than 9,500 clients across the country through 27 regional offices. More information on the company can be found at www.svb.com.