Technology
Silverpop co-founder leaves to find next venture
Atlanta Business Chronicle - by Brian Moran
Silverpop Systems Inc. is not yet a completed success, but co-founder David Bloom is off in search of the next company to start.
Along with Aaron Shapiro, Bloom started Silverpop Systems as Avienda Technologies in early 1999 to design e-mail systems that handle dynamic messages.
The company attracted $7.4 million in late 1999 from Atlanta-based Gray Ventures Inc. and well-known West Coast investors Draper Fisher Jurvetson. Last summer, Draper Fisher Jurvetson and other investors kicked in another $28 million.
Bloom and Shapiro took a step back from their lead management roles at Silverpop Systems last fall when the company named former iXL Enterprises Inc. CEO Bill Nussey as its chief executive.
Silverpop Systems now employs about 60 people in its Buckhead offices and is set to release its first product in the next month or two.
Bloom now has stepped back from the day-to-day operations of the company but remains a significant shareholder and an observer for the board of directors.
He also still is involved in some corporate development at Silverpop Systems.
"I've learned a lot over the last two years, and I want to apply it again," Bloom said. He said he now is researching a few software-related technology ideas that could be the base for a new start-up.
"The economic climate may cause people to pause before starting a new company, but I think this is a great time. There's talent available to put together a solid management team, and there's still a ton of money out there that needs to get work," Bloom said.
ELAUNCHPAD'S LATEST. After searching for an Internet security company to bring into eLaunchpad's stable, eLaunchpad CEO Palaniswamy "Raj" Rajan decided to start his own security company.
Rajan formed Vigilar Inc. late last year to focus on Internet security for businesses.
Vigilar, which is Spanish for "guard," installs secure networks, provides consulting services and manages all Internet security needs for a business.
Vigilar has developed some of its own technology but primarily resells security technology from companies such as Internet Security Systems Inc. (Nasdaq: ISSX), CheckPoint and Nokia Corp.
"We looked at a lot of product companies [in the Internet security market]," Rajan said. "There are a lot of product companies, and the leaders have already been established.
"Do you go and build a product that has a niche use, or do you tie everything together?" he said.
Vigilar was formed in December and has since expanded into Dallas, where about half of the company's 22 employees are located.
Rajan projects revenue this year will reach $10 million, with profitability to come late in the third quarter or early in the fourth. Vigilar is set to collect a seed round of venture capital later this month, he said.
Vigilar plans to have offices in Orlando, Fla., and Austin, Texas, within the next few months, Rajan said. "Our goal is to build a nationwide presence in the next three years," he added.
Rajan said that because Vigilar is a services business, finding the right people will be the biggest limitation on how fast the company can grow.
FAST LEARNER. Atlanta technology networking guru Ricky Steele has adjusted well to his new position at Korn/Ferry International.
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