Corporate Backgrounder
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Company
Infoglide Software Corporation develops and markets identity resolution software, which is a part of the emerging identity recognition middleware market. The identity recognition middleware market is anticipated to grow from $68 million in 2004 to $7.6 billion in 2011. A multi-year recipient of Inc. Magazine’s prestigious Inc 500 Award, Infoglide Software has sustained impressive growth rates by providing powerful software that can resolve fraudulent identities and non-obvious relationships across disparate data sources.
Founded in 1996, Infoglide Software has extensive background in government, law enforcement, and insurance. Infoglide Software's applications continue as the platform for passenger screening within the Secure Flight program of the Transportation Threat and Credentialing (TTAC) department of the Transportation Security Administration (TSA). In addition, Infoglide Software has deployed solutions for U.S. Customers and Border Protection, U.S. Citizenship and Immigration Service, the U.K. Ministry of Defence, and a Regional Intelligence Unit (RIU) of the U.K. Police.
In recent years, Infoglide Software’s business has grown to include commercial as well as government solutions. The company now offers its identity focused solutions for retail, banking, insurance, government, and law enforcement. Commercial customers include The TJX Companies, eBay, Iowa Insurance Fraud Bureau, Maryland Automobile Insurance Fund, State Farm Insurance, and MetLife.
Infoglide Software is a privately held company headquartered in Austin, Texas with additional offices worldwide.
Management Team
Michael Shultz, President & Chief Executive Officer
As president and CEO, Michael Shultz brings to Infoglide Software
a wealth of experience in growing and leading successful technology
companies. Mr. Shultz provides strategic and operational leadership
for Infoglide Software's corporate growth and development and is
responsible for all aspects of the business, including future acquisition
and financing opportunities.
Since joining Infoglide Software in 2001, Mr. Shultz has made critical changes to the company’s product and market direction, organization, and financials. Under Mr. Shultz’s direction, Infoglide Software's revenues grew by over 800% from 2001 to 2006, leading Infoglide Software to be named to the Inc. 500 in 2004 and 2006 and to Deloitte’s Technology Fast 500 and Software Magazine’s Software 500 in 2004, 2005, and 2006.
A seasoned technology executive with over 30 years of multinational experience, Mr. Shultz’s background includes sales management, marketing, software development, finance, research and development, general management, and mergers and acquisitions. He is a veteran of change management and has extensive experience with financing through traditional and non-traditional methods.
Prior to Infoglide Software, Mr. Shultz was founder, president, and CEO of QuestLink Technology, a leader in business-to-business e-commerce for electronics professionals. While with QuestLink, Mr. Shultz structured and negotiated $26.5 million in equity financing from individuals, venture capital firms, and strategic partners with increasing valuations for existing shareholders. In 1999, he negotiated the acquisition of a major competitor and led a successful integration of employees, systems, customers, and revenue stream within 180 days from close of the acquisition. Mr. Shultz negotiated the merger of QuestLink Technology into eChips, Inc. in December 2000 providing a successful financial event for the shareholders of QuestLink.
Before QuestLink, Mr. Shultz was president and CEO of CMG Computer Products, a manufacturer of notebook peripherals and software. Previously, Mr. Shultz was president and CEO of Specialty Development Corporation, a developer and marketer of technology products including high performance integrated circuits, hardware, and software applications. He has also held executive sales and marketing management positions at Philips Semiconductor and Wyle Electronics and was part of the founding management team at both Cirrus Logic and Integrated Device Technology, setting the sales strategy that contributed to successful IPOs for both companies.
Mr. Shultz currently serves on the University of Texas at Austin Science, Technology, and Society advisory board. He was also an AeA Texas board member and chair. Mr. Shultz served as a member of the Texas Leadership Council of the World Congress on Information Technology (WCIT) 2006 and as a judge for the University of Texas at Austin Global Moot Corp® 2006 Competition. His previous board positions include eeParts.com, the AeA national board, BancFirst of Texas, and Wired for Kids.
In June 2004, Mr. Shultz was awarded the Ernst & Young 2004™ Entrepreneur Of The Year Award in the Realizing Business Potential category. Mr. Shultz accepted the Greater Austin Chamber of Commerce’s 2002 Business Award for Innovative Business. He is also a frequent guest speaker at the University of Texas at Austin.
Robert G. Barker, Senior Vice President & Chief Marketing Officer – As senior vice president and chief marketing officer, Robert Barker sets the strategic marketing direction for the company. He also serves as acting chief technology officer. His areas of responsibility include strategy, business development, strategic alliances, public relations, marketing communications, and product marketing and management including setting technology direction, identifying market and product requirements, and leading software development.
Mr. Barker has over 25 years of experience in marketing, business development, product management, and software development. For the past several years, he was vice president of strategic planning for Compuware Corporation where he was responsible for product and technology strategy and direction for the $1.2 billion software and services company.
Prior to Compuware, Mr. Barker was associated with STARTech Early Ventures. In his position there as entrepreneur in residence, he evaluated software startups for potential seed investments. Before STARTech, he was group vice president of business development for Sterling Commerce where he led U.S. and European acquisition and partnership initiatives for Sterling’s Dallas-based Communications Group.
Mr. Barker’s career includes additional executive business development positions with Critical Devices, Anysoft, and Novell. While at Novell, he developed and managed partnerships with the most influential companies in the technology industry, including a partnership with Compaq that funded Novell/Compaq joint sales programs. He also closed technology and marketing partnerships with Lotus Notes and CA-Unicenter that resulted in new markets. He began his career at two Austin-based pioneering software companies, MRI and Execucom.
Mr. Barker holds a Bachelor of Arts degree with honors from The University of Texas at Austin with a major in psychology and a minor in mathematics. He completed the first year of his Ph. D. in psychology at Princeton University before joining the software industry. Mr. Barker currently serves on the organizing committee for the IEEE International Engineering Management Conference 2007.
Douglas Wood, Senior Vice President of Global Sales
Mr. Wood is responsible for all sales activities in the government
and commercial markets. He has over 20 years international experience
in high-profile sales and marketing roles.
Prior to joining Infoglide Software, Mr. Wood was the senior director of global retail industry sales for Sun Microsystems, where he was responsible for all sales and go-to-market activities within a $750 million business unit.
Prior to joining Sun, Mr. Wood was with Wincor Nixdorf Inc., a $1.8 billion technology solutions provider, as vice president of marketing and business development. In that role, Mr. Wood developed and executed sales and marketing strategies for the retail, financial, and services industries in North America. Previously, he was vice president of partner and business development for NCR Corporation in Canada, where he grew partner business from 11% to 30%. Mr. Wood has also held sales and marketing positions at Pinpoint Retail Systems and NRT Technologies Corporation.
Mr. Wood is a member of the Association of Strategic Alliance Professionals and a five-time recipient of the Presidents Club Award for sales excellence at NCR Corporation. Mr. Wood, a Canadian citizen, holds the equivalent of an U.S. Bachelor of Arts degree in marketing.
Gary S. Seeger, Vice President of Contracts and Administration – Mr. Seeger manages all contractual activity dealing with customers, partners, and vendors, and is responsible for developing and maintaining the company’s extensive library of software licenses, partner agreements, and other legal documents. He possesses over 25 years of contracting and supplier management experience, with expertise spanning federal and commercial markets as well as substantial experience in both domestic and international environments.
Prior to joining Infoglide Software, Mr. Seeger was the vice president of operations for Vadem, Ltd where his responsibilities included the planning and management of overseas contract manufacturing activities. Mr. Seeger selected manufacturing partners, negotiated multi-million dollar service agreements, and wrote and reviewed purchasing contracts. He was responsible for cost of goods sold, management of inventory levels, and conversion of sales forecasts to production plans.
Before Vadem, Mr. Seeger spent 10 years with Pacific Monolithics rising to the position of vice president of manufacturing operations. His responsibilities encompassed contracts management, production control, purchasing/supply chain, material planning, quality assurance, inventory control, and customer service. Mr. Seeger acted as the company change agent and managed key relationships with vendors and external manufacturing partners. Earlier in his career, Mr. Seeger held various positions in contracting and program management.
Mr. Seeger holds a Bachelor of Arts degree with honors from the University of California at Santa Barbara, graduating with a major in economics. Mr. Seeger is a current member of National Contracts Management Association (NCMA) and holds two nationally recognized Association of Operations Management (APICS) certifications.
Board of Directors
Mitch Mumma, Chairman of the Board
Mitch Mumma is a general partner with Intersouth Partners. Mr. Mumma
is primarily responsible for Intersouth’s Internet and Information
Technology portfolios. He was previously on the board of Accipiter,
which was acquired by CMGI in April 1998. In addition to Infoglide
Software, Mr. Mumma currently sits on the boards of Alerts.com,
Foveon, Lambda Technologies, nTouch Research, and Zoom Culture.
John B. Clinton, Director
John B. Clinton is a managing partner with CCP Equity Partners, a
private equity firm. Prior to CCP Equity Partners, he was chief
financial officer and a member of the executive committee of KCP
Holding Company and its subsidiary, National American Insurance
Company of California, a workers' compensation specialist. Previously,
Mr. Clinton was a vice president at Dillon Read and was a founding
partner of Concord Partners, a venture capital fund. He also serves
on the boards of Paradigm Health Corporation, Reconda International
Corp., and Zoologic, Inc.
Dr. Gene Lowenthal, Director
Dr. Gene Lowenthal is a partner with Growth Capital Partners, a middle
market investment banking firm. Previously, he was a partner with
Sanchez Capital Partners, a venture capital firm focused on early-stage
technology companies in Texas and the Southwest. Prior to Sanchez
Capital Partners, Dr. Lowenthal spent five years helping technology-based
companies to secure start-up and expansion financing as a partner
with Growth Capital Partners and advisor to Greenfield Capital
Partners. He has served on the boards of eleven privately owned
technology companies.
Randall Wolf, Director
Randall Wolf is a principal of Stone Point Capital. Prior to the
formation of Stone Point in 2005, Mr. Wolf was a Principal of MMC
Capital. He joined MMC Capital in January 1999. Previously, he
was with Goldman Sachs & Co., where he held various positions
in the Investment Banking Division. In addition to Infoglide Software,
Mr. Wolf is a director of Zebu Holdings, insLogic, AMS Holdings,
Inc., Cyberstarts, Insurance Technologies, and Rivio.
Technology
Infoglide Software applies existing business intelligence to operational problems in real-time. Often large organizations need to get key information out of data that they have in multiple locations and formats. For example, a retailer may have one database for their customer relationship management program, one for purchases, and one for known shoplifters. Ideally, they should be able to use all this data to determine who their good customers are and who their bad customers are. While this sounds like a simple undertaking, up until recently, it was a complicated and difficult process.
Infoglide Software’s identity resolution technology gives organizations the ability to search multiple databases and find similarities in data that indicate that what appears to be multiple identities is actually one entity. The company’s software can resolve individual entities out of multiple entries even when the data is incomplete or has been intentionally altered to hide identity, such as is often the case in fraud. This capability has applications for retail loss prevention, insurance fraud, financial fraud, and homeland security.
Infoglide Software was selected by the Transportation Security Administration for the airline passenger screening program over almost 100 other applicants. Infoglide Software was chosen over some of the biggest names in the software industry because it had the only solution that could address the systems’ key requirements:
- Identify risky individuals in less than one second
- Work unobtrusively in order not to disturb good customers
- Draw information from multiple, disparate, and remote sources of data
- Minimize need to modify or move data
- Maintain confidentiality of all data sources while enabling their use
- Handle risky and non-risky customers with same system
These capabilities are also a key differentiator for commercial applications of identity resolution software.
Identity Resolution Engine
Infoglide Software’s Identity Resolution Engine (IRE) incorporates several key technological differentiators:
Similarity Search™
- Utilizes patented Similarity Search algorithms, which far exceed exact match/fuzzy logic capabilities, to uncover previously hidden relationships
- Detects misspellings and intentional data manipulations to reduce false negatives, ensuring nothing slips the net and providing the highest quality leads
- Disregards irrelevant matches and reduces false positives that waste valuable investigative resource time and annoy good customers
Multi-Database Access
- Performs identity analysis across multiple, disparate data sources
- Expands the breadth of analysis by uncovering data within sources regardless of type or physical location
- Incorporates commercial and other external data sources to validate identities
Flexible Integration
- Easily integrates with existing solutions to provide advanced identity-focused analysis and results
- Integrates easily with existing legacy systems, leveraging and protecting IT investments
- Quickly integrates third-party analytics and data sources even after the solution is configured
Solutions
Identity Focused Retailing
In a three-month pilot with a Top 20 international retailer, Infoglide Software’s IRE technology was used to uncover over $15 million of potential fraud. The technology identified customers using slightly varied identities to return merchandise above the policy thresholds set by the retailer and uncovered non-obvious matches between customers, employees, vendors, and shoplifters that the retailer was previously unable to identify.
Example retail solutions include:
- Loss Prevention Intelligence (LPI) – Churns through enterprise identity data, e.g. return, customer, employee, shoplifter, and bad check data, to resolve identities and validate transaction velocities, detect hidden relationships, and uncover links to shoplifter and other high-risk individuals. LPI ranks cases by identity and relationship risk and can feed existing employee or customer watch lists or create and manage new watch lists for improved hiring and returns decisions.
- LP Real-Time Returns (RTR) – By comparing customer returns data to customer CRM data and to multiple internal watch lists (known shoplifters, bad check writers, shut-off lists, terminated employees, etc.) RTR provides certainty about whether a return is a valid transaction from a valuable customer or a fraudulent scam. RTR provides results to enhance existing returns management software applications in real-time or delivers returns transaction analysis results to loss prevention for investigation.
- Employee Screening (LPES) – Fifty percent (50%) of retail fraud is employee related, which translates to almost $20 billion of risk each year. LPES finds hidden relationships between employees (or potential employees) and the retailers’ customers, vendors, and shoplifters, providing improved results over traditional background screening.
Identity Focused Insurance
Over the years, the insurance industry has tried various ways to fight fraud. Insurers have deployed claims scoring solutions, industry consortiums have created national data warehouses for cross industry comparison, and insurers have paid more attention to gathering metrics about the amount of fraud present in their business. Despite these efforts, insurers are still missing fraud, and the problem continues to grow. Competitive pressures increase the need to stem the losses, detect fraud sooner, lower loss ratios, and increase profits.
Infoglide Software’s IRE for Insurance helps fill gaps in an insurer’s fraud risk management strategy by overcoming fraud detection challenges:
- Uncovers changes in identity and hidden relationships missed by popular fraud management strategies such as claims scoring, predictive analytics, and exception reporting.
- Detects fraud rings hidden to fraud investigators by the failure of existing solutions to detect relationships between claims entities, such as claimants, insureds, witnesses, doctors, lawyers, and other service providers
- Integrates external resources, such as Internet and identity theft databases and identity validation analytics, without the significant IT resources required by competing solutions
- Enables the use of free text analysis, common among claims administration systems, to identify important identity and relationship information in free text fields
- Applies fraud detection experience without manual intervention or remodelling to adapt to ever-changing fraud methods, unlike systems that require time consuming and complex re-programming and re-modeling of algorithms
- Performs fraud detection and stops payment on fraudulent claims in real-time while continuing to pay claims where fraud is not detected, unlike solutions that are still focused on detecting fraud on historical claims information
Identity Focused Government
Using Infoglide Software’s technology in government applications provides unique capabilities. Infoglide Software’s IRE for Government is the only software that:
- Uses multiple analytics to arrive at a single risk decision, supported by a complete justification and audit trail
- Makes decisions using remote and disparate sources; without moving the data outside of secure sites, scores are sent from the remote site to a secure decisioning system, which provides significant security as well as personal privacy benefits
- Is capable of scaling to the transaction and performance requirements of the airline industry
Example government solutions include:
- U.S. Transportation Security Administration – Secure Flight compares passenger information against lists of individuals known to pose threats to civil aviation or national security.
- U.K. Ministry of Defence – Infoglide Software provides the framework for a Service-Oriented Architecture (SOA) solution that enables data federation, advanced search services (including GIS mapping), and service orchestration.
- U.K. Police – Infoglide Software provided the technology to the U.K.'s first Regional Intelligence Unit (RIU). Nine databases from three large U.K. forces were linked together, and the officers working in the RIU were given a range of tools (Investigator Desktop, Relationship Visualization, and Intelligence Analyst) to analyze huge amounts of data from disparate sources.
