SOURCE: North Bridge Venture Partners

North Bridge Venture Partners

August 20, 2009 08:00 ET

North Bridge Venture Partners Adds Former Covergence, edocs and Checkfree Executive Jim Moran as General Partner

BOSTON, MA--(Marketwire - August 20, 2009) - North Bridge Venture Partners (http://www.northbridge.com) based in Boston, Massachusetts and San Mateo, California, today announced that James M. Moran has joined the firm as a General Partner. In his role, Moran will identify technology investment opportunities for the firm in areas such as Internet commerce, Web 2.0, enterprise software, communications, and healthcare.

North Bridge recently raised two new funds to continue its seed-to-growth financing strategy. The funds, North Bridge Venture Partners 7 and North Bridge Growth Equity 1, total $500 million each and continue to actively seek new investment opportunities and have substantial available capital to deploy. Representative investments from various sectors include A123 Systems, Health Insight Technologies, Starent Networks, Acquia, Antenna Software, OfferPal Media and Ruffalo Cody.

Moran brings an extensive background in entrepreneurship and operations to North Bridge. Most recently he was the CEO of Covergence, a developer of leading edge software-based session border controllers (SBCs) for delivering VOIP/IP telephony and Unified Communications. The company was acquired by Acme Packet in May of 2009. Prior to that, Moran co-founded edocs, inc. and helped develop it into the leading provider of web self service and online billing & payment solutions to the Global 2000. edocs was a multi-year member of both the Inc. 500 and the Deloitte & Touché Fast 500 before it was sold in 2005 to Siebel Systems. Additionally, he was an early investor, board member and chief operating officer of Virtusa, a leading provider of information technology services worldwide. Early in his career, Moran played a key role in Checkfree Corporation's early growth, driving revenues from approximately $25 million to over $250 million and a successful IPO in 1996.

"Jim has worked with technology companies and entrepreneurs at multiple stages of their growth and demonstrated the ability to identify innovative ideas and scale them into strong, thriving opportunities with successful exits," said Ed Anderson, Managing Partner at North Bridge Ventures. "He'll leverage that experience to help identify early-stage investment opportunities and help grow them into market leaders. We're very pleased to have Jim join our team."

"North Bridge has a tremendous track record partnering with entrepreneurs that produce innovative companies in large, emerging markets," said Moran. "I've experienced the North Bridge impact personally as the CEO of Covergence, Inc. a portfolio company of the firm. There, I was able to leverage the firm's collective operating experience and strategic guidance to help position the company for a successful acquisition by Acme Packet in May of 2009."

About North Bridge

North Bridge Venture Partners is an active, bi-coastal, early-stage venture capital firm based in Boston, Massachusetts and San Mateo, California. Established in 1994, North Bridge provides seed-to-growth financing and company-building expertise. Together with North Bridge Growth Equity, our mid-market focused growth capital fund, North Bridge manages over $3 billion. For North Bridge Venture Partners, success is derived through a partnership with entrepreneurs that produces industry-leading companies in large emerging markets. Historically, the firm's partners have played a significant role in organizing, starting and building successful companies. Working in concert with entrepreneurs, North Bridge adds value by providing strategic guidance, sharing operating experience, industry specific knowledge, team-building skills and an in-depth understanding of both private and public financings. North Bridge's sector focus includes Software, Communications, Healthcare Technology, Digital Media, and Materials.

Contact Information

  • Contact:
    William J. Geary
    General Partner
    Phone: 781 290 0004