Impact Venture Capital Portfolio Company: Pondera Solutions Acquired by Thomson Reuters (TSX / NYSE: TRI)
March 26 2020 - 11:15AM
Business Wire
Thomson Reuters (TSX/NYSE: TRI) has acquired Pondera Solutions,
a leading provider of technology and advanced analytics to combat
fraud, waste, and abuse in healthcare and large government
programs.
Thomson Reuters serves government agencies at the federal, state
and local levels with solutions and resources to improve
efficiencies, diminish risk and reduce fraud. The acquisition of
Pondera Solutions will enhance their offerings in this space and
will allow Thomson Reuters to further deliver insight through
advanced analytics, artificial intelligence, and human
expertise.
“We couldn’t be more thrilled for the Pondera team. We've been
working with Jon Coss and Pondera since the business planning
stages and it’s been amazing to collaborate with this innovative
and visionary team. Pondera is solving a huge and difficult
problem, and it's been my pleasure to watch them grow from idea, to
millions in revenues, to millions more in investment, to many times
that with this successful exit. Thomson Reuters will certainly
thrive following this acquisition and we're thrilled with the
return on investment this transaction has provided to our firm,"
said Jack Crawford, founding General Partner at Impact Venture
Capital.
“I’m very grateful to Jack Crawford and all of the Impact team
for their support throughout Pondera’s journey. They were with us
pre-revenue in the conception and business planning stages; they
provided funding support in our Series A raise, and they helped us
grow with strategy and operational support. In short, Impact’s
support was critical to our success.” said Jon Coss, Pondera
Solutions CEO.
"Thomson Reuters and Pondera share a commitment to serve
customers with solutions that reduce fraud by individuals targeting
government programs," said Steve Rubley, president of the
Government business for Thomson Reuters. "Pondera will be a key
component to the suite of tools available to government customers
that use technology, data, and human analysis to support their
mission and benefit their communities."
About Impact Venture Capital
Impact Venture Capital is a seed-stage venture capital fund that
invests alongside corporate venture groups and top tier investors
in startups focused on artificial intelligence technology. Impact
focuses on startups whose technology is applicable across a
multitude of industries, including cybersecurity, healthcare,
agriculture, big data, and mobility. impactvc.com
About Pondera Solutions
Pondera Solutions leverages advanced analytics, AI, and human
intelligence to help government and commercial healthcare programs
maintain compliance and detect fraud, waste, and abuse. Their core
detection system, FraudCaster, helps their clients detect and
prevent hundreds of millions of dollars in improper payments in
health plans and government programs. ponderasolutions.com
About Thomson Reuters
Thomson Reuters (TSX / NYSE: TRI) is a leading provider of
business information services. Our products include highly
specialized information-enabled software and tools for legal, tax,
accounting and compliance professionals combined with the world's
most global news service – Reuters. For more information on Thomson
Reuters, visit tr.com and for the latest world news,
reuters.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200326005461/en/
Patrick Bumpus, Impact Venture Capital pat@impactvc.com /
916.606.3711
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