Rand Capital Provides Follow-on Investment in Rapidly Growing KnowledgeVision, an Online Multimedia Presentation Software Bus...
March 18 2015 - 4:38PM
Rand Capital Corporation (Nasdaq:RAND) ("Rand"), a business
development company that makes venture capital investments in
companies with emerging product, service or technology concepts,
announced that it has recently provided a $200,000 follow-on
investment to KnowledgeVision Systems, Inc.
(www.knowledgevision.com).
KnowledgeVision is a technology leader for online video
presentation software. The company's extremely powerful and
flexible online presentation technology enables easy creation of
high quality, professional multimedia presentations for corporate
learning, sales enablement, content marketing and investor
relations. Available in four editions for individuals to
enterprises, the KnowledgeVision® System is a tightly-linked
collection of apps, technologies, and services which, in addition
to easy presentation creation, enables distribution, tracking,
storage and management of business video. Most recently,
KnowledgeVision included an iPad application, Knovio Mobile, to put
multimedia presentation creation right in a user's hands. In 2014,
KnowledgeVision delivered 31.1 million minutes of video content,
had over 50,000 authors registered to produce online presentation
content and had revenue growth of over 68%. Importantly, its
average account size increased by 75% over the last two years,
reflecting the increased use of the multiple functions available
with the software solution.
Following this financing, Rand will have invested a total of
$750,000, in three rounds of financing, representing an approximate
6.5% ownership position in the company. In addition to Rand,
current investors that also re-invested in the company to support
its growth included GrandBanks Capital, several large private
investors, and members of KnowledgeVision's senior management
team.
Daniel Penberthy, Executive Vice President of Rand, commented,
"The KnowledgeVision team has worked incredibly hard to develop a
software application which is being used by large corporations and
emerging tech companies. We believe their solution delivers a
more robust, easier to use and stronger multimedia presentation
tool than competing software applications, like BrainShark and
Adobe."
KnowledgeVision Systems CEO Michael Kolowich stated, "We are
committed to continued rapid expansion of our core business video
market. We will be doubling our sales team as well as opening
a second sales office in Chicago. We appreciate the continued
support of Rand Capital and our other investors to enable this
growth."
KnowledgeVision's training and presentation software is
available online at www.Knowledgevision.com.
ABOUT RAND CAPITAL Rand Capital (Nasdaq:RAND)
provides investors the ability to participate in venture capital
opportunities through an investment in the Company's
stock. Rand is a Business Development Company (BDC), and its
wholly-owned subsidiary is licensed by the U.S. Small Business
Administration (SBA) as a Small Business Investment Company
(SBIC). Rand focuses its investments in early or expansion
stage companies with strong leadership that are bringing to market
new or unique products, technologies or services that have a high
potential for growth. Additional information can be found at
the Company's website where it regularly posts
information: www.randcapital.com.
About KnowledgeVision: the New Face of Business
Video KnowledgeVision Systems is creating a new video
medium for business, by reinventing the business presentation for
an online, on-demand, video-enabled, mobile, anytime/anywhere
world. A Massachusetts-based company backed by GrandBanks Capital
and Rand Capital (Nasdaq:RAND), KnowledgeVision offers a
Software-as-a-Service solution that makes it easy to create, share,
and track online video presentations.
Safe Harbor Statement This news release
contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements concerning future
revenue and earnings, involve known and unknown risks,
uncertainties and other factors that could cause the actual results
of the Corporation to differ materially from the results expressed
or implied by such statements, including general economic and
business conditions, conditions affecting the valuation of the
Corporation's portfolio, the timing and opportunity for investments
or divestitures as well as conditions affecting the portfolio
companies' markets, competitor responses, and market acceptance of
their products and services and other factors disclosed in the
Corporation's periodic reports filed with the Securities and
Exchange Commission. Consequently, such forward looking statements
should be regarded as the Corporation's current plans, estimates
and beliefs. The Corporation assumes no obligation to update
the forward-looking information contained in this release.
CONTACT: Company:
Allen F. ("Pete") Grum
President and CEO
Phone: 716.853.0802
Email: pgrum@randcapital.com
Investors:
Deborah K. Pawlowski
Kei Advisors LLC
Phone: 716.843.3908
Email: dpawlowski@keiadvisors.com
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