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Three CIT GAP Funds Portfolio Companies Listed Among 2019 Inc. 5000

681 Days ago

Annual Guide Highlights the 5,000 Fastest-Growing Privately Held Companies in the U.S.

Herndon, VA, Nov. 06, 2019 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that three CIT GAP Funds portfolio companies were included on the 2019 Inc. 5000 list: Urgently, VividCortex and WealthForge. The annual guide highlights the 5,000 fastest-growing privately held companies in the United States and ranked companies according to percentage revenue growth from 2015 to 2018. To qualify for the 2019 list, companies must have been founded and generating revenue by March 31, 2015 and achieved $2 million in revenue in 2018. This year, nearly 300 companies from Virginia were represented on the list, with Urgently ranked as number 12 out of the 5,000 companies.

“CIT is extremely proud to have three portfolio companies listed on this year’s Inc. 5000. Combined, they tout an impressive 12,642% revenue growth over a period of three years,” said Thomas Weithman, Managing Director of CIT GAP Funds, and President and Chief Investment Officer of MACH37. “There is an incredible amount of new technology coming out of Virginia every year, impacting a variety of industries. The innovative spirit and deep experience of these entrepreneurs are just two of many factors we look for in an early stage company. These qualities have undoubtedly played a role in the rapid growth of Urgently, VividCortex and WealthForge.”

The three GAP Funds companies represented on this year’s Inc. 5000 list are continuing to scale their businesses to deliver unique technology to the marketplace.

Vienna, Va.-based Urgently (Inc. 5000 #12) is the leading global mobility and roadside assistance platform sitting at the center of expanding mobility and transportation options for consumers, automotive, logistics and technology companies. Urgently’s solution delivers quick, safe and innovative roadside assistance services, products and technology by combining location-based services, real-time data, AI and machine-to-machine communication. They company’s platform powers solutions in North America, Europe, Asia and Australia, for leading brands across the automotive, insurance, telematics and other transportation-focused verticals.

Charlottesville, Va.-based VividCortex (Inc. 5000 #673) database performance monitoring provides unique insights into database workload and query response. The company’s cloud-based SaaS platform offers full visibility into major open source databases—MySQL, Amazon Aurora, MongoDB, Redis, and PostgreSQL—at any scale without overhead. By giving the entire engineering team the ability to see everything the database does, from query execution to system resources, VividCortex empowers them to improve application speed, efficiency, and up-time.

Richmond, Va.-based WealthForge (Inc. 5000 #1156) provides technology solutions developed by regulatory experts to streamline investments into alternative securities. WealthForge was founded upon the idea that alternative capital markets are opaque, inefficient, and rife with barriers—and that needed to change. Altigo, the company’s processing platform, reduces errors and results in time and cost savings for both advisors and sponsors.

For more information about CIT, please visit: https://www.cit.org/.

About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.

About the Center for Innovative Technology (CIT)
Investing for Commonwealth Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.orgYou can also follow CIT on Twitter, LinkedIn and Facebook.

Taylor Hadley
LaunchTech Communications

Sara Poole
Center for Innovative Technologies

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