December 05, 2007 08:00 ET

Adapx Secures $10 Million to Meet Growing Enterprise and Government Demand for Mobile Digital Pen and Paper Software Solutions

Company Appoints Industry Veteran as CEO and President

SEATTLE, WA--(Marketwire - December 5, 2007) - Adapx (, the company that is changing the economics of field data management, today announced it has received $10 million in Series A funding from OVP Venture Partners and the Paladin Capital Group. The company also announced that it has appointed technology veteran, Ken Schneider, as Chief Executive Officer and President. Adapx will use the additional capital to further enhance and market its Capturx product suite, to meet the growing need for a better field data management solution in the GIS, Geospatial, CAD, and Forms markets.

"Adapx has an incredibly intuitive product that is changing the economics of field data management. The Capturx software platform is not only convenient and reliable for outdoor field workers, it's the only solution that seamlessly integrates with existing business-critical applications," said Chad Waite, managing director at OVP Venture Partners. "We believe that Adapx can drive the mass deployment of digital pen and paper software solutions in the enterprise and government sectors."

Lt. General Ken Minihan (USAF, Ret.), Managing Director at the Paladin Capital Group and former Director of the National Security Agency (NSA), adds, "Adapx's innovative technology and strong business plan made this investment opportunity very compelling. The company is extremely well positioned to take advantage of the ever-increasing demand for easy-to-use field data management solutions in the Department of Defense, Intelligence, Homeland Security, and First Responder markets. We are very excited to help drive the company's growth and solve the existing pain of quickly gathering and sharing information from the field."

Successful Technology Executive Takes the Helm

Ken Schneider brings more than 20 years of senior management, technology and marketing expertise as well as capital formation experience in a wide range of venture-backed technology companies and industry sectors. He has also led several startups to successful shareholder events.

Prior to Adapx, Schneider served in several prominent director-level positions at Microsoft, was the president and founder of Advantage Factory, a professional services engineering company, as well as president and founder of Cognisoft Corporation, a provider of enterprise intranet/search products that was acquired by Verity. He has multi-industry sector experience and held senior management roles with Nissan Motor Corporation and the San Francisco Giants Baseball Franchise. Schneider did his undergraduate work at the University of Oregon and has an MBA from the Pepperdine University School of Business.

"Adapx is at a critical inflection point in its product planning and go-to-market lifecycle and I'm honored to be a part of this company," said Schneider. "I'm looking forward to building on the success that has been achieved to date. In addition, I'm very excited to have OVP and Paladin as value-added members of the Adapx board -- both firms bring decades of expertise in the enterprise and federal sectors."

About Adapx

Adapx is changing the economics of field data management with its enterprise-ready digital pen and paper software platform for the GIS, Geospatial, CAD, and forms markets. Designed to help both field workers and business executives, Capturx allows organizations to capture actionable intelligence from any extreme environment and make real-time decisions in and outside the office. Leading enterprises and government agencies rely on Adapx to derive value from every field-based interaction to increase operational efficiencies and competitive advantage. The company is privately held and headquartered in Seattle, Washington. For more information, please visit

About Paladin Capital Group

Headquartered in Washington D.C., Paladin Capital Group is a premier private equity firm that provides expansion capital for growing companies. Paladin has over $700 million under management and operates several distinct funds with more than 25 portfolio companies. Paladin III, LP invests in enterprises whose principal business centers on products and services that address homeland security issues and needs. Importantly, the fund's leadership is comprised of individuals with a proven track record of financial expertise, national security experience and specialized technical competence. For more information, see

About OVP Venture Partners

For over 24 years, OVP Venture Partners has led the drive into new, high-growth technology markets in the Pacific Northwest. OVP's record of 52 liquidity events -- including 22 IPOs -- leads the region. OVP has over $750 million in capital under management and is currently investing its seventh fund. The firm concentrates on opportunities at the intersection of technology's next big waves and the foundational strengths native to the region. OVP has offices in Seattle, WA and Portland, OR and focuses on investments in communications, software, security, semiconductors, digital biology, and nanotechnology. For more information, see

Adapx and Capturx, and their respective logos are trademarks, registered trademarks, or service marks of Adapx Corporation. Other products and company names mentioned are the trademarks of their respective owners.

Contact Information