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KoolSpan Connects with $4M in Funding - cbl

By Brian Wolak

BETHESDA, Md. -- KoolSpan Inc. has completed a $4 million offering of convertible preferred stock, taking in the amount from four investors. The Bethesda-based connector of network devices adds to a $9.5 million round from last June and nearly $15 million prior to that, as citybizlist reported.

Executives and directors named in a regulatory filing disclosing the raise include:

- Anthony Fascenda, founder, CEO and CTO
- Matt Capoccia, SVP Strategic Partnerships
- Jamie McGann, VP Federal Sales
- Jeffrey Stern, VP Business Development
- Bill Supernor, VP Engineering
- Elad Yoran, chairman, from New York-based Security Growth Partners
- David Rose, director, from New York-based Rose Tech Ventures
- Nigel Jones, director, from Bethesda-based TWJ Partners
-Gary O’Malley, director, from The Greenspun Corp.

KoolSpan offers a TrustChip that makes smartphones or any computing devices into secure communication devices and includes key management, authentication, and encryption as part of its suite of security services.

KoolSpan was founded in 2001. Tony Fascenda, a serial inventor and entrepreneur with more than a dozen issued patents, created its flagship TrustChip products and device-to-device architecture.

SEC filing: http://tinyurl.com/42fk4ry

Bios:

Tony Fascenda
Founder, CEO/CTO
In over 30 years of developing wireless technologies, Tony Fascenda has been awarded ten individual patents and has taken three separate wireless companies from startup to acquisition. Tony's first foray into wireless began in the late 70s with the development of a first-of-its-kind wireless timing and scoring system for Formula One and Indy 500 auto racing.

Tony built his first company, DataSpeed, around the wireless timing system, and adapted the technology to create QuoTrek, the first handheld, wireless device for real-time tracking of stock quotes. Tony took DataSpeed public in 1982, and it was then acquired by Lotus in 1985. The QuoTrek devices are still in use today under the Signal brand. Tony then formed NewsPager Corporation of America, which developed and marketed the NewsPager device for tracking real-time financial information. NewsPager devices were licensed in 18 countries and licensed for manufacture to Uniden, Motorola, Philips, and Oi Electric. NewsPager was acquired by Motorola in 1997. In the late 1990s, Tony worked with Bethesda-based Mobeo to develop a real-time foreign currency rate reporting system. Mobeo was acquired by Aether Systems in 1999 and subsequently went public.

A professional interest in RF and WiFi technology led Tony to form KoolSpan with two former colleagues. With KoolSpan, Tony saw an opportunity to solve the problem of gaps in WiFi security with an elegant, inexpensive security product based on pre-existing and highly secure Smart Cards already widely used in GSM wireless phones. This led to the creation of an entirely new authentication and security technology that doesn't use certificates - one that works independently of wired/wireless and local/remote connections. Tony has filed 34 patents covering the KoolSpan solution (8 issued, 4 allowed and 22 pending).

Tony holds a BS in Electrical Engineering from Drexel University. At Penn State, Tony developed a master's thesis on Formula One racing that eventually led to the creation of his first company and his work in wireless.

Tony has been awarded patent protection over a four-decade span. His patent history is about to be eclipsed by the filings in KoolSpan. KoolSpan currently has eight patents issued, four more allowed and an additional 22 on file.

Matt Capoccia
SVP Strategic Partnerships
Matt Capoccia has more than 20 years experience in corporate development, business development, direct and indirect sales, sales management, marketing, professional services and product management in the Wireless, eBusiness, Customer Relationship Management (CRM) and Call Center systems markets. Matt is responsible for KoolSpan's worldwide direct sales and channels programs, with his primary focus on driving KoolSpan's revenue and market share. Matt also has overall responsibility for customer satisfaction, from initial customer contact to timely product deployment and ongoing customer support. Prior to KoolSpan, Matt served as Senior Vice President of Global Sales and Services for Telispark Corporation (owned by Deloitte Consulting).

Matt also served as a member of Telispark's Executive Committee and as a Board Member. He was responsible for the introduction of PDA-based software application products that extended enterprise systems to mobile workers in the Automotive, Aerospace, Communications, Healthcare, Utilities and Public Sector markets. Prior to Telispark, Matt was Vice President, CRM Sales for Oracle Corporation, where he was responsible for the introduction of CRM products to the Communications, Financial Services, Healthcare, Utilities and Public Sector markets. In 1990, Matt joined Versatility, Inc., a provider of CRM solutions, where he held various positions of progressive responsibility. He served as Director of North American Sales, Vice President of Product and Portfolio Management and Vice President of OEM Alliances during his tenure with Versatility. His responsibilities included the creation, development and management of products, as well as the sales and marketing programs necessary to deliver the products in the worldwide CRM market. In 1998, Oracle Corporation acquired Versatility, where Matt assumed responsibility for CRM software sales.

Jamie McGann
VP Federal Sales
Jamie McGann has more than 11 years of management, sales and team leadership experience, in addition to 13 years in the United States Navy. Jamie's focus has been to develop and deploy cyber security solutions for global customers. He has served various technical and business roles at IBM, Fiderus Security & Privacy Services, GTSI, Internet Security Systems, and most recently with ICS Corporation. Jamie's experience has been wide-ranging from developing and winning multi-million dollar proposals to project management of mission critical information assurance teams. He is recongized for his keen understanding of customer technical requirements, passion for developing customer relationships and focus on details.

Jamie joined the Navy in 1987 as an enlisted sailor and advanced through his career to the rank of Lieutenant Designated as a Surface Warfare Officer, he served on various surface ships, supported IT and security initiatives at naval headquarter commands and served in a leadership role for the Navy Y2K Office. Jamie has been awarded the Navy Commendation Medal and two Navy Achievement Medals. He is a graduate of the United States Naval Academy in Annapolis, MD.

Jeffrey Stern
VP Business Development
Jeff Stern has led new business growth for technology companies as well as the strategic imperatives for major public policy organizations. With nearly 15 years in the technology market, he has developed deep domain expertise in the areas of security, mobile, wireless and Internet technologies. Prior to joining KoolSpan, Jeff served in senior management roles at Urban HotSpots and AirMedia with business, product and corporate development responsibilities. As a strategic consultant, he developed NYC Health and Hospital Corporation's executive strategy for the secure, regulatory compliant and safe deployment of mobile and wireless technology.

In addition to his early career as an elementary school teacher, Jeff has a bachelor's degree in Political Economy, cum laude from Tulane University, and an MBA from Columbia University.

Bill Supernor
VP Engineering
Bill Supernor brings to KoolSpan a robust track record of performance and innovation based on more than 20 years of combined engineering and management experience. Supernor joins KoolSpan from McLean, Va.-based Trust Digital, a leading provider of smartphone security management. Prior to Trust Digital, Supernor served in senior-level positions at Cognio, Symantec, and McAfee/Network Associates. Supernor also served as a Lieutenant and Surface Warfare Officer in the United States Navy. Supernor graduated with honors from National University with a Master of Science degree in Software Engineering, and with distinction from Worcester Polytechnic Institute, where he earned a Bachelor of Science degree in Mechanical Engineering.

Nigel Jones
Partner
TWJ Capital
Nigel Jones is a partner at TWJ Capital LLC, a private equity investment firm specializing in early and expansion stage new ventures.

Prior to joining TWJ Capital in 2006, Nigel was a Principal at the Carlyle Group, which he joined in 1999 as an associate. At the Carlyle Group, he was a member of the U.S buyout team, focused on investments in the aerospace, defense, and federal technical services sectors. Prior to joining the Carlyle Group, he was an associate in the Technology Investment Banking group at Goldman Sachs & Co, based in San Francisco and Menlo Park from 1997 to 1999.

Nigel holds a Masters of Business Administration degree from the Stanford University Graduate School of Business and a Bachelor of Arts degree (magna cum laude) from Harvard University.

Prior to business school, Nigel was a commissioned officer in the United States Marine Corps from 1991 to 1995. In his last assignment, he was the senior communications officer and communications platoon commander for the 1st Force Reconnaissance Company of the 1st Marine Expeditionary Force, based in Camp Pendleton, California.

Nigel is currently a member of the board of directors of Acoustic Technologies, Tango Networks, eDataSource, and OnDialog.

Gary B. O'Malley
Senior Vice President
The Greenspun Corporation
Gary B. O'Malley is senior vice president for The Greenspun Corporation (since 2002) and also serves as Chief Operating Officer for VEGAS.com (a travel and tourism portal for Las Vegas) and President of Las Vegas TV Partners, LLC. (a broadcast company). The Greenspun Corporation manages and oversees the major assets of the Greenspun Family which includes real estate, gaming, media and communications.

Mr. O'Malley's major responsibilities are related to G.C. Investments, LLC which is the private equity arm of the Greenspun Family. Gary holds a board seat with its major investments including:

SkyMall, Inc. (www.skymall.com), a retail magazine for airlines and online merchandising;

Greenspun Broadcasting Group including KTUD Channel 14, (www.ktudtv.com), a television broadcast group; also serves as president of the station;

Telesphere, Ltd. (www.telesphere.com), a provider of VOIP and other business communication services to SME clients;

Tribune Company (www.tribune.com), a major US media company (board observation & advisory)

Past notable investments and active board roles include: Global Locate, Inc. (www.globallocate.com), an AGPS technology & intellectual properties company supporting location based services and applications to wireless handset manufacturers including the popular Apple iPhone (sold to Broadcom, Inc. www.broadcom.com); SeaMobile, Inc. (www.seamobile.com), a provider of bandwidth for both wired and wireless communications services to the maritime industry; and Sparkplug Communications, Inc. (merged with AirBand Communications www.airband.com), a provider of high capacity business broadband connectivity.

Prior to Greenspun, Gary was Fund Manager of Alistar Pilot Fund, a private equity fund, and previous to these activities he was a co-founder, shareholder and held several senior executive positions including co-president, CFO, Chief of Strategy & Business Development for Cable Plus Holding Company, a Craig O. McCaw backed company providing integrated telecommunications services to the multi-family housing industry and franchised CATV.

Mr. O'Malley is a Certified Public Accountant in the State of Washington and is a member of the American Society and Washington Society of Certified Public Accountants.

David S. Rose
Managing Principal
Rose Tech Ventures
David S. Rose, Chairman of the board of New York Angels, is an entrepreneurial executive and investor with extensive experience in high technology and wireless technology. He was named by Inc. magazine to the 1998 Inc. 500 list and lectures frequently on issues relating to the development of the international information infrastructure. During the course of his career, he has supervised the creation of an intellectual property portfolio of issued patents appraised at over $100 million. He was a founding member of the New York New Media Association, is a frequent guest speaker at graduate business schools including Harvard, Yale, Columbia and NYU, and currently serves on the boards of directors of companies including Aereon Solutions, SignStorey, and ISoldMyStuff.com.

David has a B.A. from Yale University and an MBA in Finance from Columbia University Business School.

Elad Yoran
Chairman
CEO
Security Growth Partners
Elad Yoran is the CEO and founder of Security Growth Partners, a strategy consulting firm and private equity fund focused on the IT security market. At SGP, Mr. Yoran advises leading companies in the security market and helps guide emerging companies with innovative technology to rapid growth. Mr. Yoran also advises government organizations and businesses on security innovation and business risk matters.

Mr. Yoran is a recognized expert on information security market and technology trends. He has diverse experience in the cyber security industry as an executive, consultant, investment banker and a two-time successful entrepreneur. Prior to founding SGP, he served as Executive Director at MediaSentry, the leading provider of anti-piracy technology services to the motion picture, music and software industries, until MediaSentry was acquired by SafeNet. Previously, Mr. Yoran co-founded, managed, and led Riptech, a pioneering provider of managed security services to governments and Fortune 500 corporations around the world. Ernst & Young recognized Mr. Yoran for his success with the Entrepreneur of the Year award. Symantec Corporation acquired Riptech in a cash transaction that ranked in the top 2% of technology mergers and acquisitions that year, and subsequently Mr. Yoran served as Vice President, Global Business Development at Symantec. Prior to Riptech, Yoran served as Vice President at Broadview International, an investment bank focusing on mergers and acquisitions in the technology industry, where he led the firm's IT Security practice.

In addition to serving as Chairman of KoolSpan, Mr. Yoran serves on technology, security and community Boards including; Executive Chairman of Vaultive, an emerging leader in the field of Cloud Computing Security, the Information Technology Advisory Council (ITAC) of the FBI, the DHS Advisory Board for Command, Control and Interoperability for Advanced Data Analysis (CCICADA), and as a Trustee of the Jewish Chapel Fund, US Military Academy at West Point.

Mr. Yoran is also a regular speaker at key industry events and has been quoted in media outlets including, AP, Reuters, USA Today, the Wall Street Journal, and The Washington Post. He has appeared on ABC News, BBC, CNN, and other networks. Mr. Yoran served as an officer in the U.S. Army and is a veteran of Operation Restore Hope in Somalia. Mr. Yoran holds an MBA degree from the Wharton School of the University of Pennsylvania and a BS degree with honors from the United States Military Academy at West Point.

Also at citybizlist, see:

Venture-backed KoolSpan Warms to $9.5M in Equity Financing - cbl

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