Stage Fund’s Blue Cod Technologies is into the Growth Stage and Closing Deals

DENVERApril 14, 2017PRLog — Stage Fund’s portfolio company Blue Cod Technologies out of Marlborough, MA is steadily growing their customer base and is pleased to announce a significant partnership with American Integrity Insurance.

“When our customers experience a loss, our goal is to provide them with timely and efficient service to help them get back on the road to recovery as quickly as possible,” said Jon Ritchie, American Integrity Insurance Executive Vice President. “Partnering with Blue Cod positions us to provide the best possible claims experience to our customers in their greatest time of need. We look forward to a long and productive partnership with Blue Cod.”

With the help of Stage Fund, Blue Cod Technologies has undergone a complete restructuring with it’s core technology, administration, marketing & sales, & executive leadership. Through this and the stabilization of the customer base, cost reductions, and a focus on profitability, the company is now profitable and well into their growth stage. Read more

Demands in Insurance Industry Show a Bright Future for Blue Cod Technologies, a Stage Fund Company

DENVERMarch 8, 2017PRLog — It can be said that the insurance industry is one of the oldest, most antiquated industries in the business world today. The industry must find a way to keep up with the demands and trends of society including, but not limited to, increased connectivity among personal and workplace devices, the development of automated cars, and cyber security. As the industry concentrates more of their efforts and growth in technology through targeted data and predictive analytics, they will need to be nimble everywhere else which is great news for Blue Cod Technologies.

In 2016, Stage Fund acquired Blue Cod Technologies, the leader in back office services for the insurance industry. Although largely successful with it’s core services, when it was acquired the company was struggling financially and had not yet reached cash flow break even.  For the past 8 months, Blue Cod has undergone a complete restructuring with it’s core technology, administration, marketing & sales, & executive leadership. Through this and the stabilization of the customer base, cost reductions, and a focus on profitability, the company is now profitable and planning for their growth stage.

Blue Cod’s future is based on acquisitions focused on revenue growth and technology. Stage Fund’s CEO and Chairman, Daniel Frydenlund says, “The firm is now actively looking for additional bolt on acquisitions in the analytics and artificial Intelligence space. With the company’s stabilization combined with the insurance industry’s growth trends, timing couldn’t be more perfect. The insurance industry is slow but is finally adapting to technologies that have been available for many years and is ripe for disruption. We will be part of this massive shift leveraging a very strong foundation and loyal customer base with Blue Cod, a business built over 17 years ago. We will be deploying and acquiring additional pieces of technology forming a state-of-the-art insurance services company.” Read more

iCars Buys Limos.com in Crowded Corporate Travel Ground Transport Market

Competition in the U.S. market for limousine pick-ups has shifted up a gear with the acquisition of Limos.com by iCars, a startup in San Francsico that aims to be the typical corporate travel manager’s go-to service for arranging ground transportation.

ICars is going up against Blacklane (which has raised $42 million), Groundlink (which has raised $20 million and was acquired this week by Marcou Transportation Group), and Deem (which has raised hundreds of millions for its various incarnations).

On the supply side, each of these companies affiliate with some of the 8,000 limousine providers in the U.S., sending referrals to run trips for corporate travelers whenever the drivers aren’t otherwise booked with local, direct reservations.

On the demand side, travel managers tend to distrust services like Uber because of uncertainty about the quality of the drivers and vehicles. They tend to prefer chauffeur services that vet driver and vehicle quality, who have software that syncs with corporate reporting systems, and who are willing to negotiate discounted rates.

The merger between Limos.com and iCars is bittersweet. Limos.com began as a San Francisco startup that ran a consumer booking website for limousine rentals. A half-dozen years ago, it raised $5 million from Canal Partners and then $15 million from Austin Ventures. Follow the link below for full article!

by Sean O’Neill, Skift

iCARS, Limos.com Join To Create Global B2B Network

SAN FRANCISCO — Two of the limousine industry’s foremost technology pioneers are combining their complementary services as part of a major deal closed Jan. 1 that will connect operators, clients, and affiliates.

iCARS, a B2B chauffeured car service app that uses a network of limousine company partners, purchasedLimos.com, the established lead generator that books web- and app-based customers for chauffeured rides. Once technical integration is completed in early February, iCARS and Limos.com will offer a seamless network of on-demand, near-demand, and advanced online reservation services via a vast network.

Added up, the combined numbers point to a limousine industry entity that provides a legal, high-quality alternative to transportation network companies (TNCs). The iCARS-Limos.com company, to remain under their respective brands, will serve 500 cities with 15,000 fleet vehicles, 2,500 operators, and 60 employees. Limos.com has raised over $20 million in equity and gets about three million visitors per year, and has 4.5 million users in its database. Owner and CEO Gary Bauer projects the venture will generate $65 million to $70 million in revenues for 2017.

About 1,000 Limos.com operators will be migrated to the iCARS platform, with Limos.com serving as the back-end operation consisting of operators and affiliates, and iCARS as the branded face of the company serving B2B corporate clients and business travelers. Limos.com also brings front- and back-end integration with Concur, Sabre, and Orbitz.

“This is a huge opportunity to take growth to the next level and have all major cities covered,” Bauer told LCT. “This enables us to be worldwide in every major city.” Read more

The Stage Fund Successfully Completes Sale of Limos.com

DENVERJan. 4, 2017PRLog — The Stage Fund, a Denver based private equity group, announces today the successful exit of Limos.com after a challenging restructuring and turnaround. Limos.com is based in San Francisco and was acquired by Stage Fund 15 months ago.

The group set out to save the company and as many jobs as possible back in September of 2015. Limos.com was leapfrogged when Uber and Lyft came to town. As is the story of many growing companies, Limos.com lost their focus on their core offerings and values. The Stage Fund systematically restructured the company to compete in their true niche, which is scheduled transportation. Daniel Frydenlund, Chairman and CEO of Stage Fund comments, “After eight years in business, Stage Fund continues to prove to be a leader in the private equity turnaround and restructuring industry. The decision to expand in Los Angeles earlier this year with Dan Tamkin at the helm has proven invaluable. I am excited for Mr. Tamkin and his success this year with leading Limos.com to this stage and successful exit.”
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Blue Cod’s Business Development Team Expands & Moves Toward New Marketing Objectives

DENVERNov. 28, 2016PRLog — In September, Blue Cod Technologies created a strategic Business Development Unit. These team members bring extensive knowledge and background in the insurance, customer service, technology and marketing industries. The new team has two initial focuses since joining. The first is to ensure accountability with current clients and partners. The second is to be a reliable advocate not just for our clients but for all partners in the insurance industry. The overall focus is to be an active partner to better enhance client services and future needs.

One of the newest members to the team, Chris Boyers, has over 15 years of experience in professional services and consulting. Specifically, 7 of those years were in the insurance industry working on both the carrier and retail side with a focus on property and casualty products.  This experience will provide clients, prospective clients and vendors with a partner who understand the space in which they operate. Read more

Blue Cod Technologies Engages in Strategic Partnership with DMM, Inc

DENVERNov. 17, 2016PRLog — The owner of Blue Cod Technologies, The Stage Fund, did an intensive search to find the Best in the Business for Blue Cod’s Print and Distribution sector of their BPO insurance services arm. Not only was it clear to The Stage Fund that this would provide Blue Cod Technologies with exceptional scalability but would also provide Blue Cod’s customers with increased security benefits, new features, state-of-the-art functionality, and more.
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The Stage Fund Saves 65 jobs in Marlborough, MA through the Acquisition of Blue Cod Technologies.

DENVERNov. 10, 2016PRLog — In November of 2016, The Stage Fund acquired Blue Cod Technologies, an Insurance Solutions provider in the Property & Casualty Marketplace. The company had over $13m invested and at one point, nearly 100 employees.

The Stage Fund focuses on acquiring controlling interests in companies undergoing change in capital structure, strategy, operations or growth and that can benefit from it’s operational and capital approach. It was clear that Blue Cod Technologies was ready for fast, strategic action in order to get back to profitability and sustainability.

Daniel Frydenlund, Chairman and CEO of The Stage Fund comments, “Our involvement to quickly save the failing company resulted in saving 65 secure jobs in the local area. What we do at The Stage Fund is so much more than working with a business; we see a business as a living, breathing entity that needs life breathed into it. We save jobs thereby helping families and our economy. We take pride in stepping up to a challenge when everyone else says ‘…it’s against all odds’”. Read more

The Stage Fund Brings Blue Cod Technologies into their Portfolio

DENVERNov. 2, 2016PRLog — The Stage Fund, a Denver based private equity firm, is pleased to announce today that it has completed the asset acquisition of Blue Cod Technologies. The opportunity came to The Stage Fund through it’s crisis management arm, The VEER Group, who were hired by the original equity owners and prior management in June of 2016.

blue-cod-logoHeadquartered in Marlborough, MA, Blue Cod Technologies provides back office services to the insurance industry with a focus on business process outsourcing (BPO) and Information Technology Outsourcing (ITO).

Bryan Taylor, Blue Cod’s CEO and President stated, “Today The Stage Fund completed its acquisition of Blue Cod Technologies.  With a new ownership group comes a renewed energy and excitement for our employee base and customers.  Our aggressive growth strategies, innovative practices and investment in people will ensure Blue Cod Technologies remains the preeminent provider of back office services to the insurance community.  These investments will ensure our clients have a partner who is committed to their success and longevity.”
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Interview with Dan Tamkin, Unified Dispatch by SoCALTECH.com

It’s a story you hear too many times: a venture or angel funded firm just can’t figure out its business, runs low on cash, can’t get another round of funding, and soon all that’s left is a few chairs and servers. However, every so often, you hear about a firm at that point, which is able to turn around, build a sustainable business, and is eventually sold for a positive return. That’s the story at Altadena-based Unified Dispatch, which was recently sold to the On-Demand Division of Veolia. The firm’s CEO, Dan Tamkin, tells us the story.

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