WAKEFIELD, MA, May 5, 2008 – Certica Solutions, Inc., a Wakefield, Massachusetts-based provider of information management software solutions to the K-12 education market, today announced that it has closed a $3.3 million investment led by Brook Venture Partners. The funding will be used to expand Certica’s presence within the 16,000 public school districts nationwide, through an acceleration of sales, marketing and customer service activities, as well as new product development.
Certica Solutions’ software, called Certify™, enables K-12 education agencies to maximize funding, avoid penalties and audits, and reduce costs associated with mandatory state and federal compliance reporting. The company, founded in 2000, counts among its customers the U.S. Department of Education, several state departments of education and numerous school districts nationwide, with its primary focus on the school district segment of the market.
Many school districts employ manual, inefficient methods of managing, accessing and analyzing data, yet are required to collect and report data to state and federal education agencies many times each year. It can be a costly and time-consuming process, and leads many districts to forego critical funding and be subjected to audits and penalties. Certify software streamlines and automates important steps in a district’s information management processes, resulting in assured funding and regulatory compliance.
“Certica Solutions brings strong leadership and several decades of collective information management experience to the K-12 education sector. Given the stringent regulatory requirements placed on school districts and the massive amounts of information that school districts are required to report to their government funders, the education field is highly motivated to adopt new technologies which automate their information management processes. With numerous successful customer implementations in-hand, Certica is well positioned to lead in this market,” said Ned Williams, partner with Brook Venture Partners.
“We are excited about our partnership with Brook Venture Partners,” said Mark Rankovic, president and chief executive officer of Certica Solutions. “With the support of the Brook team and the addition of Ned Williams to our board of directors, we look forward to mobilizing our resources on multiple fronts, including increased market awareness, new product development and additional customer support initiatives.”
About Certica Solutions, Inc.
Certica Solutions is the leading provider of K-12 data certification software solutions. Certica supports education agencies at the federal, state and local levels, delivering a pro-active, systematic approach to data validation, reporting and monitoring. The company’s solutions enable education agencies to maximize funding, streamline information management processes, and optimize regulatory reporting and compliance.
About Brook Venture Partners>
Brook Venture Partners provides expansion stage capital through Brook Venture Fund I, Brook Venture Fund II and other co-investment funds to information technology and medical technology companies located in the Northeastern United States. The firm focuses on investments of $2–5 million and specializes in both financing and providing the strategic and planning support necessary to rapidly scale and accelerate sales and marketing activities.
Brook Venture Partners