Tag: Angel Investing

VisionTech Angels Adds Tenant Tracker to Its Expanding Investment Portfolio

INDIANAPOLIS, Ind. (May 24, 2017) – VisionTech Angels, one of Indiana’s most active angel investing groups, has invested in Indianapolis-based startup, Tenant Tracker, increasing the stable of companies in its investment portfolio to 24. The VisionTech Angels investment was matched by Elevate Ventures.

Tenant Tracker is tenant coordination and build-out software for the commercial real estate industry that transfers paper-based processes to the Cloud, resulting in significant gains in efficiency. The solution, which was created at DeveloperTown, is the brainchild of Mike Kelly, managing partner of DeveloperTown, and local commercial real estate broker Keith Kleinmaier, who serves as Tenant Tracker’s chief executive officer.

Kleinmaier says the investment will have a profound impact on the company. “Until now, Tenant Tracker has relied primarily on friends and family to fund our software development and early commercialization efforts, including an extensive beta test. By closing this $600,000 seed round of funding with VisionTech and other investors, Tenant Tracker can break out of our ‘quiet phase’ and dial up our sales efforts. The market is ready and so are we.”

VisionTech Angels Executive Director Ben Pidgeon said Tenant Tracker attracted a good deal of interest from its network of angel investors in Indianapolis, Bloomington, Fort Wayne, and Lafayette. “Tenant Tracker has the potential to transform an untapped market, commercial real estate, that is very detail oriented and still tied to paper. Our investors liked that Tenant Tracker has a good customer base that is successfully using the software and are validating their revenue model; it’s very impressive in an early growth company.”

VisionTech Angels also appreciates that Tenant Tracker’s roots are grounded in both the commercial real estate and tech industry. Kleinmaier is a licensed commercial real estate broker and worked in the technology industry before joining Retail Realty in Fishers, Indiana, as president. Kelly, Tenant Tracker founder and DeveloperTown managing partner, has helped create, advise, and launch a number of tech companies.

“Tenant Tracker delivers a focused user experience,” explained Kelly. “The software allows users to track property leasing deals, manage construction and build-out status, see detailed property reports, access tenant data, and share status reports. Because it’s Cloud-based, the information is available anywhere, a true benefit to our users who are able to access Tenant Tracker from the project site or back in the office.”

Added Kleinmaier, “With all of this data in hand, commercial real estate developers, owners, and landlords have the ability to be more efficient, move tenants into properties sooner, and in turn, add revenue to the bottom line. Good-bye spreadsheets!”

Save

Save

Save

Save

May 24, 2017
Three Outstanding Companies Headline April Pitch Week!

The VisionTech Angels Screening Committee reviewed five companies in March and selected three to present at our April Pitch Week next week in Fort Wayne, Lafayette, Bloomington, and Indianapolis. We’re so pleased with the all-star line-up, we’re sharing a special sneak preview with you.

Retail shopping is not like it used to be! Consumers flit back and forth between multiple devices, platforms and stores before purchasing. To be successful, retailers have to make the omnichannel, multi-device experience seamless, integrated and consistent—something easier said than done. ZIO is poised to redefine the retailer/shopper relationship with a solution for retailers that have struggled to deliver a true omnichannel experience. ZIO provides an intelligent opportunity engine starts with the retailer’s data. It then uses machine learning to drive best outcome scenarios for customer marketing and merchandising, increasing ROI on the marketing spend.

What We Like: Omnichannel marketing is here to stay and ZIO has it down. They’ve assembled a strong management team with deep experience in this complicated space. Plus they have a go to market strategy that will have them hit the ground running. Learn More

Ear infections are a parent’s worst nightmare. They come with endless doctor visits, prescriptions for the “pink stuff”, and in severe cases, surgery. PhotoniCare is a medical device company set to how physicians diagnose and manage middle ear infections. Their ClearView device – which looks like a modern version of an otoscope – allows physicians to see past the eardrum to the middle ear where infections reside. The data it generates supports more accurate diagnosis, treatment and management; avoids the over-prescription of antibiotics and surgical intervention, and reduces cost, pain and parent frustration.

What We Like: Since originally meeting with VisionTech two years ago. PhotoniCare has raised $2.1 million in non-dilutive federal grants, secured several patents, has third-generation prototypes in multi-site clinical studies, and is preparing for FDA submission and their first product launch. Learn More

Does it drive you crazy to go to a doctor and have no idea what a lab or screening test is going to cost and what insurance is going to pay? Markit Medical is set to change that with a pricing transparency tool for use in medical practices. Here’s how it works. The physician orders an MRI for the patient. Included with that order is a choice of providers within their insurance network, the providers’ qualifications, pricing, and how much their insurance will cover. This allows patients to make informed decisions and get the most from their health insurance. This transparency should bring down the cost of care as healthcare providers will be competing for patients.

What We Like: Markit Medical’s model doesn’t cost the physician or patient a penny. Insurance companies pay for the service as a way to drive down costs. Markit Medical is currently in use in Chicago. Learn More

VisionTech Angels’ April Pitch Week is open to members and their invited guests. If you’d like to bring a guest, please email Ben Pidgeon to RSVP.

Click here for the dates, times and locations of April Pitch Week.

April 12, 2017
R&D Tax Credit Change Could Put Money in the Pockets of SaaS Companies
While we’re not in the tax preparation business, VisionTech Angels member, Steve Sehy, MBA, CPA, has provided some good information regarding a change in the R&D tax credit that could put some money in the pockets of SaaS companies. Here’s what Steve shared:

The old R&D tax credit rules: If you had an income tax loss, the tax credit didn’t do you much good. Any tax benefits would apply sometime in the future.

The new R&D tax credit rules: With the Startup Provision of the new law, a 2016 tax credit can be used against a SaaS company’s 2017 payroll taxes instead of income taxes. Plus, SaaS companies can amend a previous year’s returns to take further advantage of the new provision.

Bottom line: SaaS companies with a tax loss can get an immediate cash benefit.

There are three criteria to qualify for the new tax provision:
- No revenue prior to 2012
- No more than $5 million in revenue
- Qualifying expenditures
How much can a SaaS company expect to save? Let’s do the math using this calculator. If you have $2 million in expenses, of which $1 million supports R&D process and thus would qualify, the federal benefit would be $65,000. The state benefit varies, but for companies in California, the credit would be a much as $75,000.

As stated earlier, we aren’t tax accountants or attorneys. (Steve Iisa CPA.) If you’re a SaaS company and stand to benefit, share this blog with your tax preparer.

Thank you for sharing this info with VisionTech and our members, Steve!

For more information on this topic, here’s another blog from VisionTech Partners’ sponsor Katz, Sapper & Miller. Click here.

https://www.alliantgroup.com/wp-content/uploads/2016/02/CPA-Magazine-The-RD-Tax-Credit-Permanent-Expanded.pdf

Save
February 14, 2017