iContracts, a Three Bridges, N.J.-based provider of contract management solutions for life sciences manufacturers and distributors, has raised $4 million from Edison Venture Fund.
Edison Venture Fund announced a $4 million investment in iContracts based in
The contract management solutions are designed for the unique requirements of Life Sciences manufacturers and distributors. The comprehensive suite of fully integrated solutions manages chargeback, rebate and Medicaid processes. iContract also complies with government pricing regulations and incentive agreements.
John Martinson, Managing Partner, and two Edison Director Network members, serve on iContract's Board of Directors.
Joining the board from iContracts is president and co-founder, Erik Sieverding and Chief Technology Officer and co-founder, Omar Bey. Leigh Powell, CEO of I-many during the company's era of rapid growth and successful IPO in 2001, also serves as director. “
“The founders are well respected as innovators and contract management experts,” stated John Martinson. “Customers praised their streamlined features and exceptional service,” added Rob Finn.
Edison has made more investments in
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $4 to 8 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison's investment professionals are based in Lawrenceville, NJ, McLean, VA, New York, NY, Needham, MA and West Chester, PA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison's successes include Axent, Best Software, E-Transport, InSoft, Liberty Tax, MathSoft, VirtualEdge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
iContract delivers solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is far ahead of other solutions. Powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and is backed by highly evolved data architecture