NewSpring Capital Portfolio Company VelociData Announces Former Motorola Chairman and CEO, Christopher Galvin, Joins Board of Directors as Company Closes $10 Million Financing

NewSpring Growth

NewSpring Capital, a family of private equity funds providing growth equity and mezzanine capital, announced today that a portfolio company of NewSpring Growth Capital, VelociData, Inc. ("VelociData"), has added former Motorola Chairman and CEO, Christopher Galvin, to its Board of Directors. 

In addition, VelociData also announced that it has closed $10 million in financing. The new capital will be used to accelerate sales and marketing efforts, as well as for the recruitment of key leadership required to support the Company's growth. 

VelociData provides the world's fastest engineered solutions for data transformation and data quality.  As data volume and diversity continue to grow and businesses demand faster answers to increasingly complex questions, IT organizations chronically face problematic choices such as capital-intensive investments in additional infrastructure or the adoption of new technologies that require new skill sets while only partially addressing speed- and scale-related challenges. 

VelociData overcomes these technical and financial obstacles to Big Data performance by engineered solutions that often outperform conventional ETL solutions by 1000X and allowing customers to leverage the solutions on a subscription basis.

VelociData solutions also snap into existing architecture-accelerating time-to-benefit while avoiding the cost and risk associated with more disruptive approaches. 

"Any C-level executive leading a global enterprise will tell you that, in today's hyper-dynamic and hyper-competitive markets, success depends more and more on giving decision-makers fast access to information that is complete, accurate and timely," said Galvin.  "VelociData is delivering a breakthrough response to this global need." 

Galvin led VelociData's financing round with participation from founding investors, Bush O'Donnell and NewSpring Growth. 

"We are honored to have someone of Chris Galvin's experience, vision and proven leadership ability join our Board," said James O'Donnell, Chairman and CEO of VelociData.  "His passion for innovation and for advancing the contribution that IT makes to top- and bottom-line business performance is a perfect fit with VelociData's mission and go-to-market strategy."  

"In addition, we are excited to have one of our founding investors, NewSpring Growth, meaningfully participate in the financing round and I personally look forward to continuing to work with Marc Lederman, General Partner at NewSpring Capital, on the VelociData board.  He has been a great partner and meaningful contributor to our success to date." added O'Donnell.   

The other members of the VelociData board are: 

  • Ronald Indeck, Founder and President
  • Chris O'Malley, former CEO of Nimsoft and Executive Vice President at CA Technologies
  • Barry Rudolph, former VP of System Networking at IBM
  • Bradford Werner, President, Pentahui LLC 

About VelociData, Inc. 

VelociData delivers the world's fastest data transformation solutions.  Its purpose-built engineered systems radically alter the performance and economics of ETL and other data-related processes essential to analytics and Big Data processing-empowering customers to achieve unprecedented information enablement. For more information visit  www.velocidata.com

About Christopher Galvin 

Christopher Galvin is a seasoned technology executive with over  40 years of experience leading and working with global high growth technology organizations.  Mr. Galvin's former relationships include: Chairman of NAVTEQ; Chairman and CEO of Motorola Inc.; member of the Bechtel Corporation's Board of Counselors; Chairman of the U.S.-China Business Council; director of the Rand Corporation; member of the U.S. Department of Defense Board; member of the U.S. Department of Defense Science Board; advisor to the City of Tianjin, China; advisor to the CEO of Hong Kong; and advisor to the Searle Family Trusts. 

Chris currently serves as Chairman, CEO and Co-founder of Harrison Street Capital, is a member of the board of MCR-Aerodyne Inc., Chairman of Cleversafe, Inc., Chairman of UniqueSoft, Inc., member of the Executive Committee of Northwestern University's Board of Trustees, the American Enterprise Institute Board, the Legion D'honneur, Tsinghua University School of Management and Economics (Beijing), Business Council (U.S.), the American Society of Corporate Executives, the Board of the Chicago Council of Global Affairs and Chair of the Rhodes Scholars selection committee for Illinois and Michigan.