TechColumbus Announces Acquisition of Pre-Seed Portfolio Company OnGuardian by Artemis International, Inc.
December 21, 2012 -- !-- AddToAny BEGIN -->
Columbus, OH (PRWEB) December 21, 2012
TechColumbus announced today that its Pre-Seed portfolio company, SafeHouse Systems, LLC, d.b.a. OnGuardian, has been acquired by a local investment company, Artemis International, Inc.
OnGuardian developed a first-of-its-kind application that allows parents to monitor, from one easy-to-use dashboard, how children are using various consumer media devices (mobile and online) and how they are interacting with others outside the home environment. That includes monitoring computers, cell phones, gaming consoles, on-demand Internet streaming devices or any other device that is networked through the household. The system is designed to monitor and pre-empt any external threats that could run the gamut from childhood predators to bullying or any of the other challenges to children in todays networked world.
The company was founded by central Ohio serial entrepreneur, Jim Mazotas, who has previously exited two other successful companies, including Plannet Group LLC, which was acquired by CareWorks Technologies in 2009.
TechColumbus invested $150,000 from its Pre-Seed Fund in OnGuardian in August 2011, paving the way for application development. Programming was led by OnGuardians vice president of development Winthrop Worcester and by senior architect Keith Sarbaugh. Recent Ohio State University graduates Grant Seifker and Zachary Schroeder, along with veteran programmer Brian Ross and marketing manager Mia McPherson, completed the core team. In just under ten months, the team successfully developed and launched the product and acquired by Artemis International, Inc.
This just shows you cant predict whats going to happen, says Mazotas. I would have never guessed we would have a successful exit of the company this quickly and on such a relatively small amount of risk capital. It just goes to show that you cant win if youre not in the game.
Were very encouraged by this development, commented Ryan Helon, investments leader for TechColumbus. It proves that with a great idea, and the right team, an entrepreneur can build a startup with enough substance to be an attractive acquisition target. It doesnt always require an extremely long time, nor does it always require multiple rounds of funding.
Mazotas hopes this exit will be encouraging to other entrepreneurs in the region.
Everything we needed to achieve this milestone was accessed in central Ohio. Starting with TechColumbus Pre-Seed and local sidecar investments, to app development programming, and the acquisition of the company by local investors looking to diversify their portfolio it was all done here and very quickly.
Jim Mazotas is founder and chief executive officer of IntelligentID.com.
Artemis International, Inc. is a leading healthcare company with investments particularly in the cosmetic surgery clinic field. However, this marks another non-medical acquisition for Artemis International, Inc., as it continues to diversify its portfolio with companies that are strategically aligned with its core markets.
TechColumbus is the public-private partnership whose mission is to accelerate the advancement of Central Ohios innovation economy. It is distinguished by its comprehensive breadth of services, including membership, advocacy, venture acceleration and seed funding. Through its services and programming, TechColumbus supports the innovation initiatives of all companies within the region from the newest entrepreneurial startups to the Fortune 500 companies that call Central Ohio home. TechColumbus measures its impact through increased economic growth and the creation of high-paying jobs. With thousands of companies served, and hundreds of millions of dollars directly or indirectly invested, TechColumbus champions the regions world-class technology-enabled companies and is the driver of the entrepreneurial ecosystem in the Columbus region.
Read the full story at http://www.prweb.com/releases/2012/12/prweb10249796.htm.