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Caltius Equity Partners Makes Investment in Vision Internet; David Nachman Named New CEO
Investment Will Accelerate Growth, Expand Offerings to Meet Growth Demand for Interactive Government Websites
SANTA MONICA, Calif. (Sept. 2, 2014) Vision Internet, innovators in online government, today announced that Caltius Equity Partners has made a growth capital investment in the company that will expand its platform of simple, easy-to-use IT tools for local government and accelerate growth throughout North America.
David M. Nachman, an experienced technology executive with a track record of building successful companies, has assumed the role of CEO from Vision Internet founder Steve Chapin, who will stay on as an investor, advisor and board member.
“I am extremely proud of the Vision Internet team and the government technology platform we have built over the past 19 years,” Chapin said. “The Caltius investment is good news for employees and customers. It will allow us to expand our reach and develop even more advanced features and functionality to facilitate online government. I am excited to work as a member of the board and believe that David is exactly the right leader to guide Vision Internet to the next level of success.”
Known for its long-term approach to both investments and relationships, Los Angeles-based Caltius Equity Partners invests in leading middle market companies seeking capital for organic growth and acquisitions.
“Vision Internet is a pioneer in the government website development market where it serves as a vital partner for public officials grappling with citizens’ increasing expectations for online access to important services and information,” Nachman said. “At a time when local government transparency has taken on newfound importance and constituents are increasingly demanding their voices be heard effectively by local government, it is clear that municipalities are thinking very differently about the use of technology. Add the pervasive use of mobile devices and social media, and technology emerges as the critical enabler that will allow governments to adapt and thrive in the digital age.”
Nachman is the former chief business officer of El Segundo, Ca.-based Velocify, a SaaS sales automation company where he led marketing, product management and business development efforts that resulted in a near tripling of the company in a two-year period. Prior to Velocify, he was an operating partner at Marlin Equity Partners, where he focused on investments in enterprise software and technology-enabled business services companies. Nachman also served as CEO of Phoenix Energy Technologies, a pioneer in energy management, and led marketing, product management, business development and corporate strategy for HireRight, an employment screening company that grew from early stage through public company under his leadership. Earlier in his career, he was a senior consultant at McKinsey and Company, and an investment banker at Kidder, Peabody & Company.
An economics-business graduate of the University of California, Los Angeles, Nachman also holds an MBA from the University of Chicago Booth School of Business.
“Vision Internet has an outstanding reputation, a loyal customer base and is well-positioned to take advantage of the very healthy growth expected in the government technology market,” he said. “Our content management system, visionCMS™, is second to none; it is the foundation on which we will diversify our customer base, broaden our footprint and expand our offerings in the years ahead. I am excited about the positive impact our services can have on our customers and their communities.”