Software Design

ReapSo preps to launch customer loyalty app in Farmington Hills

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December 13, 2012

ReapSo works with the tagline "Get What You Want" and plans to begin delivering on that promise in early 2013. The Farmington Hills-based start-up is creating a mobile platform that specializes in customer loyalty, connecting consumers with the brands they want. The app is set for release next year and the start-up's team is focusing its efforts on helping local consumers connect with Metro Detroit-based small- and medium-sized businesses. "We're going to start with rewards and move it forward as a loyalty program," says Bill Wildern, CEO of ReapSo. Wildern is a serial entrepreneurial who also owns HYDRA Professionals, a business turn-around firm. He and his co-founder, Steve Valentine, and their first employee, Jeff Heng, all have an automotive industry background and leverage that to launch ReapSo. "It's a couple of engineers trying to solve a challenge," Wildern says. ReapSo will launch in southeast Michigan and Wildern expects to grow the company regionally throughout next year. Source: Bill Wildern, CEO of ReapSo Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

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Panda Cash Back focuses on cash back commission tech

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General

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December 13, 2012

Panda Cash Back fancies itself as an "rewards website, dedicated to helping you save money on your online purchases." The Novi-based start-up partners with hundreds of brand name companies like Groupon, Adobe, Expedia, GameStop, K-Mart, Best Buy and GNC to help share the rewards and savings from online deals with its customers. "We are giving online shoppers a cash-back rebate from the commission we get on sales," says Mohammed Shaker, CEO of Panda Cash Back. Shaker, a serial entrepreneurial, has a background in Internet marketing. Shaker and his three-person team launched the site earlier this year. So far Panda Cash Back's services are only available online but Shaker hopes to expand into the mobile space in early 2013. The site also launched with 1,000 online store partners. "We're hoping to expand our number of partners to serve the online shoppers," Shaker says. Source: Mohammed Shaker, CEO of Panda Cash Back Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Woodward Asset Capital evolves biz model to grow bottom line

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Community Development

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December 6, 2012

Ron Jasgur and two of his partners started Woodward Asset Capital in 2007 when the real-estate market began to implode. Their idea was to help big banks handle bulk foreclosures. It worked. The Southfield-based company has since leveraged its success to evolve to a software firm in recent years. Woodward Asset Capital found solid success with its original business model in its first years. However, it's owners saw more opportunities to create efficiencies for banks handling those foreclosures. The company created software that streamlined the foreclosure process, such as as complying with local ordinances and preventing fraud. "We have gone from a bricks-and-mortar acquisition company to an online technology company in less than five years," says Jasgur, president of Woodward Asset Capital. "Our vendor relations and clients are the same but we serve them differently." That transition has allowed Woodward Asset Capital to grow its revenue by 30 percent and hire three people in customer service. It now employs a staff of eight and is looking to hire two more software coders. Source: Ron Jasquar, president of Woodward Asset Capital Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

DataFactZ hires 12 as it continues Northville expansion

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November 15, 2012

DataFactZ has enjoyed a growth trend since it opened its doors for business nine years ago. The data-warehousing-and-IT firm has seen double-digit revenue increases in each of those years, including nearly 30 percent growth over the last year. Propelling that growth is expanded business with some big local corporate names, such as Meijer and Domino's Pizza. It's IT work has helped those companies tweak their business models to become more efficient and profitable. "The reason we are able to grow is because of the total quality of the projects we deliver," says Krishna Kallakuri, vice president of DataFactZ. DataFactZ recently hired 12 people in Michigan, most of which are at its Northville headquarters. The company is looking to acquire a similar firm of similar size in Michigan in 2013 to complement its organic growth. "We are projecting steady growing and more project growth in the next six months," Kallakuri says. Source: Krishna Kallakuri, vice president of DataFactZ Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

ePrize hires 140 people, mostly at Pleasant Ridge HQ

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November 15, 2012

Pleasant Ridge-based ePrize has added 140 new jobs over the last year, the lion's share of which are in its Oakland County headquarters. The tech firm also has 25 open positions that it's looking to fill at an open house today. The technology meet and greet will feature the latest in what the digital engagement software firm has to offer. It's also looking to attract people to become the newest members of the company's team, including professionals who specialize in software engineering, quality assurance, front-end web development, technical project management and systems support. "We're expecting to do a lot more hiring in this area in 2013," says Sarah Sheffer, a corporate recruiter for ePrize. "We're hoping to find a few good employees." The 13-year-old company was founded by Josh Linkner, the current CEO of Detroit Venture Partners, in 1999. It has since grown to 425 people and 20 summer interns. Of those employees, 320 work in Pleasant Ridge. Catterton Partners, a Connecticut-based private-equity firm, acquired ePrize earlier this year. Shortly after that ePrize spun out LevelEleven, a tech start-up that creates a sales force mobile app. The venture-backed start-up now calls the M@dison Building home and is hiring. The executives behind ePrize are looking to do more of that and are hoping attractive more software talent will help push that along in 2013. The company expects to hire another 50-100 people next year. "The lion's share of these hires would be in Pleasant Ridge," says Mark Schell, senior director of talent for ePrize. Source: Mark Schell, senior director of talent for ePrize and Sarah Sheffer, a corporate recruiter for ePrize Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

A Rising Tide Lifts All Businesses

By Jon Zemke

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General

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November 8, 2012

Over the last decade and a half Media Genesis has not only weathered the ups and downs of the softward industry but thrived. Now, the Troy-based firm is lending a hand to start-ups, some that might even be viewed as potential competitors. Why? Reread the title of this story for the answer.

Southfield’s ImageSoft adds 14 staff on 15% revenue bump

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November 8, 2012

ImageSoft expects to have a good year for growth in 2013... or a great year. "It's either going to be a double our revenue type of year or our revenue goes up 20 percent type of year," says Scott Bade, president of ImageSoft. The Southfield-based company makes software platforms that help judicial and health-care systems digitize records. It has landed a number of new clients such as Arlington County's judicial system, expanded work with some existing ones and expects to ink new deals with other government units, such as Macomb County. Its revenue has jumped 15 percent over the last year thanks to that business. "I think that has helped drive a lot of our business," Bade says. That has helped ImageSoft expand its staff to 54 employees and a handful of interns after hiring 14 people over the last year. Of those hires, eight were new jobs. About half of those hires were for tech positions with the rest coming in finance, administrative and sales. Source: Scott Bade, president of ImageSoft Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

BEET lands $1.25M in seed capital, including Michigan Pre-Seed Capital

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November 1, 2012

BEET Analytics Technology has locked down $1.25 million in seed capital in its first year, setting the stage for it to launch its manufacturing software and help it gain traction. The Plymouth-based start-up, which utilizes the services of the Macomb OU-INCubator, provides diagnostic and analytic software for automation and manufacturing markets. Its software provides insight into manufacturing quality and maintenance performance, along with monitoring capabilities to component level activities. The 1-year-old company is set to launch its product later this year. "We would like to be the premier automotive intelligence software provider," says Edward Kim, president of BEET Analytics Technology. "We would like to help company in the automotive industry improve production through cost savings." BEET Analytics Technology currently employs nine people. It has recently hired two people and expects to hire another in the near future. The recent infusion of $250,000 from the Michigan Pre-Seed Capital Fund is expected to help fund that staff expansion. Source: Edward Kim, president of BEET Analytics Technology Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Hennessey Capital extends more loans to local companies

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October 25, 2012

Hennessey Capital is helping a number of local business grow by helping fill the void for small business financing. The Rochester-based company has provided a growing number of local companies with lines of credit as big as $1 million. The credit lines have provided those firms with working capital and allowed them to take advantage of a rebounding economy. "It (Hennessey Capital's recent business) has been primarily with existing clients and helping them take advantage of opportunities," says Mike Semanco, president of Hennessey Capital. Hennessey Capital specializes in accounts receivable and inventory financing. The 10-year-old company prides itself on offering "flexible lending options, including accounts receivable financing along with traditional asset-based lines of credit." Hennessey Capital's clients are often growing and in need of increased cash flow, but do not meet the requirements of many banks. Among its clients are Control-Tec, an Allen Park-based provider of cloud-based telematic data acquisition, management, and analysis services to the automotive, heavy truck, and rail industries. It took advantage of a $1 million commercial finance line of credit from Hennessey Capital last year, which allowed it to grow. "Our financing made it possible for them to take advantage of those opportunities," Semanco says. Source: Mike Semanco, president of Hennessey Capital Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.

Plex Systems moves into new HQ to accommodate growing staff

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October 25, 2012

Plex Systems is moving from Auburn Hills to Troy and into a new home that gives it plenty of room to accommodate its rapidly growing staff. The 17-year-old software firm has hired 87 people over the last year, expanding its staff to 275 employees and a few interns. The company expects to keep hiring for the foreseeable future, and needed an expandable office space footprint to amake room for all those new hires. "Troy has a lot of square footage available," says Mark Symonds, CEO of Plex Systems. "We didn't want to be in a lot of buildings. We have a lot of space in our tower and we expect to grow in Michigan." Symonds adds that Troy is more centrally located for his workforce. He also expects the predominantly office-space area of Troy will help his company with recruiting. The move comes shortly after Francisco Partners, a Silicon Valley-based private equity firm, acquired Plex Systems last summer. Francisco Partners was attracted to Plex Systems because it was an early adopter in the cloud ERP market, enabling it to grow to a worldwide presence. Its flagship product, Plex Online, is a shop-floor-to-top-floor solution for manufacturers in the automotive, aerospace, defense, food and beverage and electronics industries. Source: Mark Symonds, CEO of Plex Systems Writer: Jon Zemke Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.