Friday, October 10, 2008

The Pitch

SagePoint seeks up to $4M to find worker compatibility

By Mass High Tech Staff

SagePoint Software
Headquarters: Needham
Employees: 6
Founded: 2007
Web: www.sagepointsoftware.com
E-mail: rwilner@sagepointsoftware.com
Phone: 617-733-8593
The Pitch: SagePoint is looking for $2 million to $4 million.

PITCHING THE TECHNOLOGY
SagePoint’s product is a software-as-a-service intended to help companies make better personnel decisions. The software can help companies assign employees to projects for which they are well suited, compare similarly qualified employees and maintain records of skills and experience employees pick up as they complete projects, according to SagePoint. The company would charge a use-based monthly licensing fee to generate revenue. The company says it has hired a development team, sales team and management team. SagePoint also says it has completed an in-house proof-of-concept test of its product and developed a working prototype.

PITCHING THE PEOPLE
Who is on the management team? Richard Wilner, president, formerly of Bose Corp.; David Wilner, senior vice president of sales, formerly of SAP AG; and Howard Vogel, senior vice president of architecture and infrastructure, formerly of Outpost.com.

Have executives been involved in a cashout prior to this venture? Yes. David Wilner was at Qronos when it was purchased by IBM Corp., at Professional Computer Resources when it was purchased by Pansophic Systems and at QSS Inc. when it was purchased by Telelogic AB. Vogel was at Outpost.com when it was purchased by Frys.com.

Who is on the board of advisers? The company has not formed a board of advisers.

PITCHING THE BUSINESS
How much investment is being sought? SagePoint is seeking $2 million to $4 million over the next two to three years.

What partnerships, collaborations or affiliations are already in place? None.

List any federal or state grants, contracts or awards received: None.

What’s the market size being pursued? The company says it’s targeting companies with midsize or larger workforces and with high project turnover. SagePoint estimates the space’s aggregate market value at more than $500 million.

Who are the likely competitors, direct or indirect? The company says it competes indirectly with companies such as SAP AG and Oracle Corp., as well as with online job boards.

Is the company profitable? No.