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Echo 360 Adds $1.8M - cbl

By Brian Wolak

DULLES, Va. -- Echo 360 has completed a $1.8 million offering of mixed securities, raising the amount from nine investors.

The capital adds to a consistent flow for the Dulles, Va.-based blended learning and lecture capture solutions provider, as Richard Rabicoff reported that Echo 360 raised $2.97 million in February along with almost $50 million last year.

Individuals named in a recent SEC filing include:

• Geoff Allen, chairman and founder
• Frederick Singer, CEO
• Anthony Abate, COO
• Christopher Holden, director, from Charlottesville, Va.-based Court Square Ventures
• Steven Murray, director, from Newton Center, Mass.-based Softbank Capital
• John Poduska Sr., director, business consultant
• Wayne Weisman, director, from Wayne, Pa.-based SCP Private Equity
• John Casteen, director, President Emeritus, University of Virginia

Echo 360 provides online, on-demand lectures for college students. Through its platform, students can replay recorded sessions and review information from instructors online.

Last month, Echo 360 announced new software abilities that include EchoPlayer for the Apple iPad, high-definition video and dual-display capture, as well as playlist of lecture and supplemental recordings that enables students to identify and launch multimedia course content.

SEC filing: http://tinyurl.com/3mhhhrb

Bios:

Fred Singer
CEO
Fred Singer is an internet pioneer who has played a broad set of roles ranging from CEO, executive, entrepreneur, advisor, board member and investor. He jumped into online media and advertising as it was emerging in the early 1990′s, tapping into the hyper-growth of narrowband online services with America Online. Mr. Singer was with Softbank Corporation since 2003 as a Senior Advisor to Masayoshi Son, President and CEO of Softbank Corporation in Japan. Previously, Mr. Singer worked in a variety of leading operating roles as a Senior Vice President at America Online where his primary focus was on turnarounds and content companies. During his six year tenure at AOL, some of his roles included COO, AOL Studios/Interactive Services (Content), COO, ICQ (Instant Messaging) and SVP of emerging products. He started his career with the Washington Post Company in 1992 where he was a founder of the Washington Post Online Service (now WashingtonPost.com).

Mr. Singer is currently serving on the boards of DoubleClick, Motley Fool Company, Kennedy Center for the Performing Arts (International Committee), Queens School of Business, and Upper Canada College. He has also been active with Sunderam TagoreArt Gallery in New York City and Children's Hospital in Washington, D.C. where he has funded pioneering work on Autism Spectrum Disorders. He has an MBA from Harvard and a LLB, MA Philosophy, BA Philosophy with Distinction and B. Commerce with Honours from Queen's University in Canada.

Geoff Allen
Chairman and Founder
Geoff Allen has over 20 years experience in high-technology sales and marketing, product development and business operations. As founder of Echo360, Allen promoted the vision for next-generation lecture capture and conceived of the EchoSystem capture appliance. Prior to founding Echo360, Allen founded its sister company, Anystream. Anystream is now the world leader in digital media production and workflow management systems for top media companies, including Turner, NFL Films, NBC, MTV and countless more. Prior to Anystream, Allen was the general manager of Enterprise Solutions for the Anystream development group at Integrated Computing Engines, Inc. He has an extensive background in Internet cutting-edge video applications, previously serving as chief technology officer of iXL's Washington D.C. office. He founded and served as president and chief executive officer of Axicom, a developer of digital video advertising insertion systems, and Source Digital, a systems integrator focused on digital video production systems.

Allen is a member of the Young President's Organization (YPO). He is a former member of the Young Entrepreneur's Organization where he served as the vice president of technology for its International Board. Allen attended George Mason University's computer science program and the Birthing of Giants Entrepreneurial Management Program at the Massachusetts Institute of Technology.

John T. Casteen III
President Emeritus, University of Virginia
Professor of English John Casteen became president of the University of Virginia in August 1990. As president, he oversaw a major restructuring of the University's administrative and governance structures, one of the largest capital funds campaigns ever undertaken, significant improvements in academic programs, and major expansions of the University's physical facilities. In this period, also, the University has been recognized for its leadership in educating minority students, for the quality of its undergraduate teaching, and for its success in refinancing itself following historic reductions in state tax support at the beginning of the decade.

After teaching English at the University of California (Berkeley) and the University of Virginia, Mr. Casteen became Virginia's secretary of education in 1982. He served until 1985. While secretary, he directed reforms in both secondary and higher education, revamped Virginia's college desegregation efforts, and initiated programs of state support for research. From 1985 to 1990, he was president of the University of Connecticut.

Mr. Casteen has been a director of the American Council on Education, a director of the National Collegiate Athletic Association, trustee and chair of the College Entrance Examination Board, commissioner of the Education Commission of the States, member of the Board of Control for the Southern Regional Education Board, commissioner of the New England Board of Higher Education, and chair of the Association of Governing Board's council of presidents. From 1991 to 1993, he chaired the National Board on Oceans and Atmosphere.

In 1997, Mr. Casteen completed a term as chair of the Commission on Colleges of the Southern Association of Colleges and Schools (SACS) as well as a term as president of SACS. In 2000-2002, he chaired the Council for Higher Education Accreditation (CHEA). He recently completed a term as chair of the Association of American Universities (AAU). Mr. Casteen is currently a member of AAU's Institutional Data Committee.

Mr. Casteen's business career has included service as a director of Connecticut Bank and Trust Company (CBT) in 1986-1989-CBT was acquired by Fleet Bank, and as a member of CBT's audit and corporate responsibility committees; as a director of the New England Education Loan Marketing Corporation (Nellie Mae) and the successor foundation (1988-1997 and 2000), and as a member of Nellie Mae's executive committee; as a director of Sallie Mae (1999-2004), following the sale of Nellie Mae to SLMA, Inc.; as a director of Blue Cross/Blue Shield of Connecticut, Inc., now a component of Anthem (1989-1990, resigned to move to Virginia), as a member of the audit and medical affairs committees, and as a director of Calico, a wholly owned subsidiary providing employee life insurance services for client corporations; as a director of the College Construction Loan Insurance Association (Connie Lee) and a member of the finance committee (1993-1997)-Connie Lee was acquired by AmBac in 1997; as a director of Allied Concrete Company, Charlottesville (1995-1998); as a director of Jefferson Bankshares, Inc., and Jefferson National Bank and chair of the executive compensation committee (1990-1997)-JBI was acquired by Wachovia in 1997; a director of the old and new Wachovia Corporation (1997-present), member and chair of its audit and compliance committees, and subsequently member and chair of the audit committee of the new corporation formed by the merger of Wachovia and First Union, currently serves on audit committee. He is a member of the Board of Trustees of the Chesapeake Bay Foundation; and member and chair of the Jefferson Science Associates, LLC. Currently, he serves as chair of Universitas 21 and is a member of the Board of Directors of U21 Global Pte Ltd. He is also a member of the Board of Directors of SAGE Publications, Inc. and is a member of the Virginia University Research Partnership Board.

Mr. Casteen was named the Outstanding Virginian of 1993. The state conference of the American Association of University Professors (AAUP) presented its Jackson Davis Award to him in December 1993. In February 1996, he received the doctor honoris causa from the University of Athens in Greece. In 1998, he was named the University of Virginia's outstanding alumnus of the year. In December 1998, he received the Gold Medal of the National Institute of Social Sciences. In November 2002, Mr. Casteen was selected as the inaugural recipient of the Higher Education Center for Alcohol and Other Drug Prevention's Presidents Leadership Group Award. The Virginia Society of the American Institute of Architects selected Mr. Casteen as the recipient of the Architecture Medal for Virginia Service in 2004. In 2009, Mr. Casteen was named a fellow of the American Academy of Arts and Sciences and was awarded the Thomas Jefferson Award for service, the University of Virginia's highest honor. Also in 2009, the Charlottesville Chamber of Commerce awarded Mr. Casteen the Paul Goodloe McIntire Citizenship Award and Virginia Commonwealth University's School of Government and Public Affairs presented Mr. Casteen with the Excellence in Virginia Government Lifetime Achievement Award.

Mr. Casteen holds three degrees in English from the University of Virginia (B.A. with high honors in 1965, M.A. in 1966, and Ph.D. in 1970). He served as UVA's dean of admission from 1975 to 1982. Born and raised in Portsmouth, Virginia, he is married to Betsy Foote Casteen. They have five children.

Wayne Weisman
Partner, SCP Private Equity, Anystream Executive Chairman
Wayne Weisman has been a partner of SCP since its inception and his experience in private equity and venture capital investing dates to 1987. He joined Churchill Investment Partners, Inc. as a managing director in 1990, and became Vice President and a member of the board of directors of CIP Capital at its founding. From 1992 to 1994 he served as Executive Vice President of Affinity Biotech, Inc. where he had responsibility for strategic alliances, financial strategy, and mergers and acquisitions and oversaw its IPO and merger into the company that became IBAH, Inc. From 1987 to 1990, Wayne operated a management and financial advisory firm. Wayne began his career at the Philadelphia law firm of Saul, Ewing, Remick & Saul. He is a director or chairman of several companies, including CinemaStar, Inc., Gigared S.A., Anystream, Inc. and Deep Breeze, Ltd, and he was until recently a director of Auxilium Pharmaceuticals, Inc. He also serves on the investment committee of Vitalife Life Sciences Fund. Wayne received his B.A. cum laude from the University of Pennsylvania and his J.D. from the University of Michigan Law School.

Steven J. Murray
Partner, SOFTBANK Capital
Steve Murray joined SOFTBANK Capital in 1997 and has over 14 years of experience in managing investments, mergers and acquisitions, finance and accounting for growth orientated technology companies. In addition to his investment sourcing, evaluating and management responsibilities within SB Capital, he is also the CFO for the SOFTBANK group that manages substantially all of SOFTBANK's global activities outside of Japan. This role has allowed Murray to develop long-standing and valuable relationships within SOFTBANK's management and operations that assists in facilitating deal sourcing from Asia as well as unique due diligence for potential investments.

Murray has been the principal executive responsible for several billion dollars of complex structured transactions and monetization strategies to maximize investment value during his tenure at SOFTBANK. These transactions have included structured loans, initial and secondary public offerings, mergers, private asset and stock sales, public market block stock sales, and long-term collars. He started his career in the Audit Department of Deloitte & Touche where he worked with some of the firm's most prestigious and acquisitive clients including KKR, Primark and Harcourt General.

Murray serves on the boards of several private companies, including Webhire, National Leisure Group, Viacore, BERJ, and Anystream. He is a Certified Public Accountant and holds a BS in Accounting from Boston College.

Chris Holden
General Partner, Court Square Ventures
Chris Holden brings over 25 years of early stage investing and company-building experience to Court Square, including 11 years with Rupert Murdoch's News Corporation in a variety of senior operating, strategy, and executive management roles.

From 1995 to 2000 he served as Chief Executive Officer of Kesmai Corporation, a wholly owned software and technology subsidiary of News Corp, which he sold to Electronic Arts and America Online. Prior to becoming CEO of Kesmai, Mr. Holden was vice president of News Technology Group, which held company-wide responsibility for investing in technology and new media businesses, as well as managing the integration and deployment of new technologies across News Corp business units worldwide. He also served on News Corp's Global Interactive Strategy Taskforce, was a member of the executive team that created iGuide (a joint venture between News Corp and MCI which later became TV Guide Interactive and merged with Gemstar Corporation), and was a senior executive with the News Digital Media Group, which oversaw the online operations of a number of News Corp companies. Prior to joining the News Technology Group, he co-founded the Advanced Media Group for HarperCollins Publishers in New York (a News Corp company) and served as corporate vice president. While at News Corp, Mr. Holden served as a director of numerous private companies in the IT, Software, and media sectors.

Mr. Holden left News Corp in 2000 to co-found Court Square Ventures. He has been a board member in CSV I portfolio companies CSTV (sold to CBS), Logic Library (sold to SOA Software), and Verance (still operating). Currently, he is a director of CSV II portfolio companies Emerging Media Group, Grab Networks, Echo360, and Mobile Posse. He serves on the board of the Martha Jefferson Hospital Foundation, the University of Virginia Patent Foundation, and was appointed by Virginia Governor Tim Kaine to the Board of Visitors of Virginia State University. He is a graduate of Woodberry Forest School and Davidson College.

John William Poduska, Sr.
Director
Dr. Poduska is an independent business consultant. From January 1992 until December 2001, he served as chairman of Advanced Visual Systems, Inc., a provider of visualization software and solutions. Before 1992, Dr. Poduska was president and chief executive officer of Stardent Computer, Inc, a computer manufacturer, from December 1989 to December 1991. From December 1985 to December 1989, Dr. Poduska was founder, chairman and chief executive officer of Stellar Computer, Inc., a computer manufacturer and the predecessor of Stardent Computer, Inc. Dr. Poduska is a director of Novell, Inc. and Anadarko Petroleum Corporation.

Poduska holds a Sc.D. from Massachusetts Institute of Technology and an Honorary Doctorate of Humane Letters from Lowell University. His awards include the McDowell Award of the IEEE "for continued creative contributions to hardware and software development and for management expertise in bringing them to products"; and the MIT Corporate Leadership and Distinguished Industrial Achievement Awards. Poduska was also chosen as Arthur Young Venture Magazine's Master Entrepreneur in High Technology and was inducted into the Institute of Entrepreneurs, both in 1987. He is a member of the National Academy of Engineering and of several boards including the Boston Ballet, Wang Center and the Boston Lyric Opera.

He is a trustee of Lahey Clinic and Bentley College.
Poduska also serves on the board of directors of Safeguard Scientifics, Anadarko Petroleum, XL Vision and Emerge Interactive.

Also at citybizlist, see:

Echo 360 Resounds with $3M - cbl

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