Company in the Spotlight
Contact: Alan Fogg, FCEDA, afogg@fceda.org, 703-790-0600 (office) or 571-213-5065 (mobile)
Eight Fairfax County companies receive nearly $32 million in venture capital funding in first quarter
Fairfax County accounts for 42 percent of Virginia total
Fairfax County, Virginia USA, Friday, April 27, 2007 -
Eight Fairfax County-based companies received $31.7 million in venture capital investments in the first quarter of 2007, according to figures compiled by the Fairfax County Economic Development Authority (FCEDA) based on the recently released PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree™ Survey. All eight companies work in the technology industry.
The total for Fairfax County companies represents 42 percent of the $75.5 million invested in Virginia companies during the quarter. The county total also represents 16.1 percent of the $197.5 million invested in 41 deals involving companies from the Washington region (District of Columbia, Virginia, Maryland), according to the MoneyTree™ Survey.
Companies that garnered the most venture capital money include Clarabridge Inc. ($7.5 million), Netuitive ($7 million) and SecureInfo Corporation ($5 million).
“Once again we lead the Commonwealth of Virginia in venture capital funding,” said Gerald L. Gordon, Ph.D., president and CEO of the FCEDA. “ Fairfax County entrepreneurs are finding the financial resources that are needed to start and grow a company.”
Fairfax County companies have received almost $4 billion in private equity funding since the FCEDA began its Capital Attraction Program in 1997 to link entrepreneurs with possible funding sources. More than 30 venture capital firms and organizations have offices in Fairfax County, the highest concentration in the Washington area.
Business growth helps Fairfax County fund public services, such as the nation’s top-rated school system, that contribute to the quality of life of its residents. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to domestic and international markets through Washington Dulles International Airport, and a well-educated workforce.
Below is a list of Fairfax County companies that received venture capital investment in January, February and March 2007:
| Company Name/Fairfax County location | Investment | Web Address |
|---|---|---|
| 1) Approva, Reston | $900,000 | www.approva.net |
| 2) Aptela, Vienna (Tysons Corner) | $3.75 million | www.aptela.com |
| 3) Clarabridge Inc., Reston | $7.5 million | www.clarabridge.com |
| 4) Defywire, Herndon | $1.1 million | www.defywire.com |
| 5) Netuitive, Reston | $7.0 million | www.netuitive.com |
| 6) Secure Elements Inc., Herndon | $1.5 million | www.secure-elements.com |
| 7) SecureInfo Corporation, McLean (Tysons Corner) | $5.0 million | www.secureinfo.com |
| 8) SPADAC, Inc./McLean (Tysons Corner) | $5.0 million | www.spadac.com |
Time magazine called Fairfax County, “one of the great economic success stories of our time.” Business growth helps Fairfax County fund the nation’s top-rated school system and other public services that contribute to the quality of life of residents. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to global markets through Washington Dulles International Airport and a well-educated workforce.
The award-winning Fairfax County Economic Development Authority promotes Fairfax County as one of the world’s best business centers. The FCEDA offers site location and business development assistance, and connections with county and state government agencies, to help companies locate and expand in Fairfax County. In addition to its headquarters in Tysons Corner, Fairfax County’s largest business district, the FCEDA maintains marketing offices in six important global business centers: Bangalore, London, Los Angeles, Munich, Seoul and Tel Aviv.
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