SOURCE: Tallwave

Tallwave

August 16, 2012 15:58 ET

Tallwave Adds Wholesalefund to Its Venture Management Practice

SaaS Solution for the CPG and Wholesale Distribution Market Wins the 2012 ACA Innovation Challenge and Becomes a Portfolio Company of the Southwest's Leading Lean Business Accelerator

PHOENIX, AZ--(Marketwire - Aug 16, 2012) - Tallwave, a lean business accelerator and venture management firm, announces the selection of Wholesalefund as a portfolio company. Wholesalefund is a software-as-a-service (SaaS) company that streamlines connections between manufacturers and distributors in an online platform. Wholesalefund joins digital marketing agency, ethology, SEO platform, SyCara, and digital-out-of-home industry disruptor, SOOH Media (formerly Fauxbooth), in Tallwave's Venture Management portfolio.

In May 2012, Wholesalefund was awarded $250,000 as a winner of the 2012 Arizona Commerce Authority (ACA) Innovation Challenge. Wholesalefund competed against over 300 Arizona companies to be selected as one of six winners of the AZ Innovation Challenge. Wholesalefund represents the only software and information technology company to win this round's ACA award.

"We are pleased to welcome Wholesalefund into the Tallwave family," said Thom Brodeur, EVP of Venture Management for Tallwave. "Adding the company to the Tallwave portfolio is consistent with our plans to bring disruptive and innovative category leaders to market; accelerate their growth, and drive sustainable enterprises that build economic value in Greater Phoenix, Arizona and across the Southwest."

Wholesalefund's brokering platform efficiently connects Consumer Packaged Goods (CPG) manufacturers with distributors, bypassing traditionally fragmented channels and quickly getting new product onto store shelves. Tallwave's Accelerator worked with Wholesalefund to provide investor readiness and lean product development services, and will continue supporting the company as its commercialization partner.

"Tallwave was the right choice for our company," said Dave Albertson, CEO of Wholesalefund. "The lean business and design thinking approach their Accelerator took with Wholesalefund, coupled with the seasoned leadership and commercialization expertise of their Venture Management group gave me and my team the confidence we needed to not only win the ACA Innovation Challenge, but to position us to win in the market. Tallwave got us market ready with less risk."

The Arizona Innovation Challenge is the largest financial prize of its kind in the country, awarding over $3 million annually to Arizona companies. Each winner was judged on a set of criteria including technology potential, marketing strategy, management team, and the potential for job and wealth creation. Startups winning awards in the Innovation Challenge are required to commercialize their technology solution and generate revenue within one year of the award.

About Tallwave:

Tallwave is a lean business accelerator specializing in validating, commercializing and scaling emerging technology and digital media ventures. Founded in 2010 by former senior executives from Google, Yahoo!, Microsoft, and iCrossing, Tallwave helps businesses identify, achieve and sustain growth using lean-validation principles. Tallwave has successfully worked with over 25 companies in its Venture Accelerator and added four companies to its Venture Management portfolio.

The company will see over 200 startup and early stage companies this year, and will accept fewer than two dozen into its lean business Accelerator. Of those, fewer than 10% will be accepted into the company's exclusive Venture Management group (1% of the total companies). Tallwave portfolio companies generate an average of 22.25 jobs per company, outpacing national accelerators who generate an average 6.5 jobs generated per venture, while creating an economic growth engine in the Southwest rivaling other regional markets from Austin to Boulder.

Headquartered in Scottsdale, AZ Tallwave has offices in San Francisco and Los Angeles. For more information about Tallwave, visit www.tallwave.com or call 602-840-0400.

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