LANSING, MI, October 6, 2010— IDV Solutions announced today an investment from Plymouth Management Company (PMC) of Ann Arbor. IDV is the first PMC investment from their new fund, Venture Partners Fund II (“PVP II”).
Mark Morrison, IDV’s Chief Executive Officer explained, “We are very excited about partnering with the Plymouth team. Their knowledge, experience and track record will be of great benefit as we continue to grow and pursue new goals. We have been very selective in our search for an investment partner, and are more excited than ever about the future of IDV and the impact our products can have helping organizations around the world.”
IDV is the provider of Visual Fusion, business intelligence software for building applications that unite content from virtually any data source in a visual, interactive context for better insight and understanding. Visual Fusion is often used to present organizational data in the context of a map and timeline, and several implementations of the product have received awards for their superior user experience, high performance, rapid development, and overall value to their organizations. IDV has grown its revenues rapidly in the past three years and has an impressive list of clients including Microsoft, Pfizer, the U.S. Department of Homeland Security, and the U.S. Department of Defense. IDV customers regularly report strong returns from their Visual Fusion investment in the form of revenue creation, operational savings, and strategic value.
Mark Horne, PMC’s Chief Executive Officer added “IDV is a great match for our investment criteria. We knew after our first meeting with the company and initial due diligence that the strong Visual Fusion product, along with an experienced and innovative management team, made this an ideal first investment for PVP II. The Company has experienced strong, profitable growth by offering a high end, premium product during challenging economic times. We are pleased to have them as our first portfolio company.”
PMC Partner Jeff Barry will take a Board seat with the company and assist IDV in accelerating its growth.
About IDV Solutions, LLC
IDV is a business intelligence software company committed to helping organizations gain more insight from data. By repeatedly solving key problems for customers in the Global 2000 and government, IDV and its products have earned a reputation for innovation, speed, and the highest quality user experience. For more information, please visit www.idvsolutions.com.
About Plymouth Venture Partners II, L.P.
Fund II is a follow-on fund to Plymouth Venture Partners Fund I. PVP I became fully invested in 2009 after completing investments in 29 companies. Plymouth Venture Partners II invests in growth stage companies in the Great Lakes region.