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Friday, March 27, 2009
The Pitch
PowerToad shares meeting tools
By Mass High Tech staff
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PowerToad Inc.
Headquarters: Boston
Employees: 2
Founded: 2008
Web: http://powertoad.com
E-mail: cweiss@powertoad.com, jausfeld@powertoad.com
The Pitch: PowerToad is seeking funding to begin product shipment and fund growth.
PITCHING THE TECHNOLOGY
PowerToad makes information sharing and collaboration office hardware and software intended to be used in conference rooms and other meeting areas. PowerToad’s product is a “collaboration appliance” with software tools designed to collect, exchange and archive information shared at a meeting or conference. PowerToad says participants can choose from wi-fi, Bluetooth or USB connections for their laptops or handheld devices, with other connection options available for projectors, electronic whiteboards, printers and external storage devices.
PITCHING THE PEOPLE
Who is on the management team? Cliff Weiss, acting CEO; Jeff Ausfeld, chief technology officer.
Have executives been involved in a cashout prior to this venture? No.
Who is on the board of advisers? William Johnson, executive director, U-Start Business Incubator; Kenneth Weiss, CEO, Strategic Diversity Inc.
PITCHING THE BUSINESS
How much money is being sought? PowerToad is looking to raise $4 million over three rounds.
What partnerships, collaborations or affiliations are already in place? None.
List any federal or state grants, contracts or awards received: PowerToad recently presented at the Worcester Polytechnic Institute Venture Forum Spotlight on Entrepreneurs.
What’s the market size being pursued? The company says it’s targeting the more than 7 million conference rooms in the United States including hotel ballrooms and convention centers.
Who are the likely competitors, direct or indirect? PowerToad says it competes indirectly with telepresence companies such as Cisco Systems Inc., Tandberg, Hewlett-Packard Co., and PolyVision Corp., as well as high-end videoconferencing companies like Sony Corp., and Polycom Inc., though the companies could also be potential customers.
Is the company profitable? No.
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