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Assure Acquires BoomStartup, Launches Assure Technology to Digitize a Complete, End-to-End Solution for the Private Investment Marketplace

Acquisition catalyzes growth strategy to provide a full suite of services for private investment market participants through every stage of a transaction.

SALT LAKE CITY (June 21, 2019) — Assure, the leading provider of fund administration and transaction services for the private investment marketplace, announced today that it has acquired BoomStartup, one of the top startup accelerators in the United States.

With the acquisition of BoomStartup, Assure now offers a comprehensive platform to founders, companies, investors and deal organizers with a full suite of solutions and services applicable throughout the entire venture life cycle from idea to exit. By maintaining touchpoints throughout this cycle, Assure is positioned to deliver solutions at the exact time of need and in the most efficient and value-additive way.

In conjunction with the transaction, Assure Inc. has created a new business unit, Assure Technology. Robb Kunz, former BoomStartup Founder and CEO has been appointed to the role CEO of Assure Technology.

The primary rationale for the launch of Assure Technology and acquiring BoomStartup is to broaden Assure’s reach and position the company to deliver better solutions to customers. “With a dedicated business unit focused on technology, we will be able to provide a broader, higher quality product line and will be able to develop and go to market faster,” said Jeremy Neilson, co-CEO of Assure. “Additionally, Assure Technology will expand our offering outside of professional services provided by Assure, giving companies across an expanded market the opportunity to access and leverage our proven solutions.”

Assure Technology has acquired the IP from BoomStartup, which includes the BoomStartup Online software platform, content from the BoomStartup Online University for Startups, as well as other proprietary tools, data and processes. Assure Technology will focus on the continued development of Assure’s tech-driven private markets platform and its flagship product, Glassboard, with the dual mandate of driving operational efficiencies internally and delivering a SaaS solution to every customer across the industry.

Assure will maintain its focus on providing best-in-class professional services, including SPV administration, fund accounting, company bookkeeping, and compliance to participants in the private market. Assure will continue to focus on the needs of organizers and their investors by expanding the application of these proven solutions, along with the entrepreneur and acceleration delivery services acquired from BoomStartup.

The BoomStartup acquisition allows Assure to provide accelerator services to a greater number of startups and also offer affordable, professional back-office services such as legal, bookkeeping, accounting and taxes to these companies. With BoomStartup’s SaaS-based platform integrated into Assure’s software offering, Assure will be able to leverage BoomStartup’s extensive database of 4,000 entrepreneurs and 400 investors/mentors to establish a platform that touches all of the life-cycle participants. Assure is committed to assisting its clients and users investing in the world’s best startups and companies, through a single seamless application, Glassboard.

“Assure’s goal is to bring the front and back-office together and offer a complete solution for all private transactions. Acquiring BoomStartup allows us to do this for early-stage companies, and the incubators and investors that focus on these startups,” co-CEO Katie Neilson said. “With the move to create Assure Technology and Assure, we are widening our footprint to serve companies from the very beginning of their life-cycle to the end.”

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About Assure

Assure is the leading provider of outsourced administrative and transaction services for the private investment marketplace. The company offers professional, high-quality services and innovative software that streamlines setting up, closing and managing back-office fund administration for angel and private asset investing. Assure’s experience and volume significantly outpaces other fund administrators, driving its rise to one of the top 5 most active private fund administrators in the world in just 7 years. The firm’s approach, which allows clients to structure and close deals faster, cheaper and with more transparency, helped pave the way for the ascendance of the “super angels,” special purpose vehicles (SPVs) and micro VCs. The company has worked with more than 200 clients, including AngelList, EquityZen, Forge Global, Tribeca Angels, Bitwise and Village Global, structuring and closing over 4,300 deals. Assure offers a full suite of services including SPV administration, fund accounting and fund taxes, cryptocurrency fund administration, CEO services, Exempt Reporting Advisor (ERA) services, KYC/AML services, 506(c) accreditation, Off Shore Markets, and Opportunity Zones. For more information about Assure, visit www.assure.co.

About BoomStartup

BoomStartup is one of the most recognized seed accelerators in the U.S. and the premiere accelerator in Salt Lake City. Since its inception in 2010, BoomStartup has shepherded over 170 companies through the rigors of launching a company, helping 72% of them get funded at levels from $500K – $1.5 million. BoomStartup operates as a technology-driven accelerator, providing entrepreneurs access to education, business plan guidance, mentor connections & insight, and trusted service providers through a user-friendly, cloud-based interface. Learn more at www.boomstartup.com.

Press Contact:

Chris Thomas

801.481.9482
cthomas@intrepidagency.com

Announcing the Class for BoomStartup 2018

We’re thrilled to announce the eight companies in the 2018 BoomStartup cohort. This is our 8th class since starting in 2010. This year’s class includes two companies from Utah, New York and Colorado and one each from Michigan and Ukraine.

Founders in this year’s class are bringing new solutions to hard problems in cycling, e-commerce, education, snow management and enterprise SaaS.

As we begin our 8th program in Salt Lake, we’ve made some changes to make the program even more founder-friendly through our customized acceleration plans and online acceleration program. We continue to connect our companies with a fantastic local mentor community, who help the companies accelerate. In addition, we integrate lean practices and principles from Lean Startup experts to help our companies iterate, validate and build their companies faster. All the while, helping the companies connect with investors who can help the companies get to their next value inflection points.

We’re thrilled to present the 9 companies in the 2018 BoomStartup class:

 

Caddell Prep – Provides affordable, personalized test prep with an initial focus on niche tests, where competition is low.  Glyn Caddell, Anthony Heath. (Staten Island, NY)

 

EcoTecSnow – Helps ski resorts reduce their top expenses (snow making, snow moving and snow grooming). Daniel Osborne, Chris Nyberg. (Eagle, CO)

 

                   Fish Tank – Connects fish stores, fish-keepers and breeders with a                               location-based marketplace app. Dimitri Podoliev (Ukraine)

 

InScribe – An AI supported Q&A platform that connects higher education and corporate learners to resources. Katy Kappler, Ana Hernandez, Matt Self (Denver, CO)

 

Knowledge Locker – A smart knowledge base that enables organizations to self-serve, empower employees, teams. Jack Thorogood, Pavel Kundas (Troy, MI)

 

SuccessKit – Helps B2B sales and marketing teams leverage their customer success examples to improve   close rates. Julian Lumpkin, Daniel Litt (Port Washington, NY)

 

Tannus – Enabling cyclists to ride without ever getting a flat through airless tire solution. Dave Ballard, Ryan Cook, Sterling Peterson          (Spanish Fork, UT)

 

Workglue – Streamlines sales process, business management, profitability for small to mid-sized service-based companies. John Busick, Robert Stoeber (Salt Lake City, UT)

ShopHero Expands Service

ShopHero expands grocery delivery into new stores

Provo-based ShopHero recently announced its expansion into stores in 30 different states and three countries. This is in addition to the 18 Utah independent grocers already in ShopHero’s network.

Grocery delivery continues to expand nationwide, and ShopHero helps smaller independent grocers offer the service to their customers.

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Vutiliti Launches HotDrop a Revolutionary Energy Monitoring Device

Vutiliti Launches HotDrop a Revolutionary Energy Monitoring Device

Vutiliti (pronounced “view-tility”), a Utah company, unveiled its revolutionary new device called “HotDrop” at the Solar Power International trade show in Las Vegas earlier this month. HotDrop is an affordable energy monitoring device that installs in seconds and provides real-time energy load information wirelessly over great distances, solving the greatest pain points of energy monitoring.

“The response from the energy industry is extraordinary,” says Steve Ellis, CEO of Vutiliti. “Monitoring electricity usage at any level has traditionally required electricians and time-consuming installations with expensive equipment. HotDrop has changed everything about that, and the industry leaders instantly recognized these amazing benefits for their bottom lines.”

The HotDrop, at the size of a 9-volt battery, fits anywhere and is powered through a unique and patent-pending approach that requires no batteries or wiring to install it. With a typical installation time of less than 10 seconds, and a real-time, long-range wireless communication system that transmits miles away, HotDrop is designed for the toughest environments where reliability, real-time information, and distance are vital. A HotDrop device is configured in seconds through Vutiliti’s mobile app.

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RoviTracker: The Link Between Humans And Equipment

RoviTracker: The Link Between Humans And Equipment

While Alain Eav consulted for a heavy equipment manufacturer, he learned what a nightmare it can be to manage equipment. “The industry likes to keep things pretty simple,” Eav explains. “That means using a whiteboard or magnetic board to keep track of their equipment, client, service record, rental dates, etc.” You know what seems risky to me? Keeping track of insanely expensive machinery ON A WHITEBOARD. AN ERASABLE WHITEBOARD. You get one disgruntled employee with a paper towel and you’re toast.

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Varkain Contributes $100,000 toward Pre-Seed Round for Vutiliti

Varkain Contributes $100,000 toward Pre-Seed Round for Vutiliti

Varkain, a venture capital group based in Las Vegas, has contributed $100,000 toward the Pre-Seed Round for Vutiliti. Vutiliti (pronounced “view-tility”) gathers and provides real-time information on utility usage (electric, gas, water, renewables) so that consumers, businesses, and governments can monitor and budget utility usage. Vutiliti’s mobile and web programs guide consumers to actual consumption reduction, saving them money while reducing usage of water, gas, and electricity generation.

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