CIP Capital

Scott Marden Joins Panel at JEGI’s 13th Annual Media & Technology Conference in NYC

 JEGI

January 12, 2017

JEGI’s 13th Annual Media & Technology Conference will take place Thursday, January 12th in NYC. The 13th annual JEGI Media & Technology Conference is a preeminent, can’t miss event for more than 400 senior executives across the media, marketing and technology sectors. The 2017 Conference will provide key insights from high-profile speakers across JEGI’s core markets on how to stay relevant in today’s fast-paced and rapidly evolving landscape.

CIP Capital's Managing Partner Scott Marden is a featured speaker on the panel "Key Trends in the Financial Markets".

Global Driving Safety Leader eDriving and Consumer Scoring Pioneer FICO Announce Strategic Partnership and New Driver Safety Score

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Global Driving Safety Leader eDriving and Consumer Scoring Pioneer FICO Announce Strategic Partnership and New Driver Safety Score

eDriving to combine industry-first FICO Safe Driving Score with launch of new Mentor telematics “closed loop” driver training and risk reduction program.

Highlights:

  • eDriving(SM) and FICO partner to launch a groundbreaking safe driving score
  • Just as the FICO® Score is the standard measure of consumer credit risk, used by all players in the credit ecosystem, the FICO® Safe Driving Score will provide a measure that facilitates consistency and fairness in driver safety assessment
  • The score will be made available initially through eDriving’s Mentor℠ smartphone telematics solution
  • The Mentor offering and FICO Safe Driving Score will roll out first to the fleet driving market and teen/novice drivers safety and education before mainstream rollout
  • eDriving and FICO are recruiting members for an industry advisory board to facilitate turning the FICO Safe Driving Score into a powerful, ubiquitous industry score

October 12, 2016 eDriving, the largest provider of online driver training and global driver risk management solutions, announced it has partnered with leading analytics software firm FICO to launch new scoring algorithms to capture driving behavior and develop a transformational risk predictor — the FICO® Safe Driving Score. Just as the FICO® Score is the standard measure of consumer credit risk, used by all players in the credit ecosystem, the FICO Safe Driving Score will provide a measure that facilitates consistency and fairness in driver safety assessment.

The strategic partnership between eDriving and FICO will be one of the centerpieces of a new “closed loop” driver training and improvement offering by eDriving, called Mentor™. The Mentor offering will initially serve two key marketplace segments: the fleet market and the teen/novice market, with expected launch dates in Q4 2016 and Q1 2017, respectively.

eDriving’s Mentor is a new smartphone telematics solution that will capture acceleration, braking, cornering, speeding, cellphone distraction, and other behavioral data, as well as provide the proprietary, predictive analytics platform to fuel the FICO Safe Driving Score. Furthermore, Mentor will provide a “playlist” of engaging interactive training interventions customized for each driver based on his or her risk profile. FICO has developed the score based on its empirical research of driving behavior inputs known to predict driver performance, risk, and on-road safety performance.

The Upside of Improving Your FICO Safe Driving Score

eDriving’s Mentor and the FICO® Safe Driving Score will empower good drivers to prove their low-risk profile. It will also help high-risk drivers understand their risk exposures, how those factors affect their safety, and what they can do to manage, control, and mitigate their risk of crashes, thereby improving their driving and ultimately better controlling their insurance costs. The solution provides broad and measurable benefits for drivers as well as fleets of all sizes, and results in safer drivers, safer roads, and reduced costs.

“This groundbreaking partnership between two global leaders elevates and expands our mission of empowering drivers to control their lives behind the wheel by improving their safety and reducing their risk,” said Celia Stokes, CEO, eDriving. “By working with an analytics powerhouse like FICO, we’ll have an enormous impact on what is happening on the road and create benefits that ripple through the entire driving ecosystem. There has been so much talk about a FICO-like score in this industry — we are delighted to be delivering on the dream and then some. Everyone wins here — the driver, their families, their insurers and their employers.”

“We believe in solutions that give consumers more control over their lives,” said Sally Taylor-Shoff, vice president of Scores, FICO. “Our programs, like FICO Score Open Access, provide consumers with insight into how lenders view their creditworthiness and provide information that enables them to better understand their financial health. In concert with the industry leader in driving education, the FICO Safe Driving Score will provide consumers with valuable insights into their driving behavior that will help people do something also vitally important — protect themselves, their passengers, and their vehicles.”

Advisory Board to Oversee Path to Mainstream Adoption

FICO and eDriving are also forming an advisory board to develop the FICO Safe Driving Score into a standard for all drivers. The advisory board will include representation from insurance companies (both commercial and personal), brokers, fleet, and incident management companies, other telematics service providers, and car manufacturers to define a beneficial industry standard, which does not exist today.

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About eDriving

eDriving is the largest provider of online driver training and global driver risk management with more than 10 million U.S. consumer customers to date and 700,000 fleet drivers worldwide annually. In addition to providing state-regulated online novice driver training (a.k.a. drivers ed courses and drivers permit certification) and online driver improvement courses (a.k.a. traffic school), our focus is on helping drivers become smarter and safer behind the wheel in close partnership with corporations, fleet services, and insurance companies.  Our mission is to maximize road safety by using technology and online learning expertise to empower smarter, more reliable drivers to be in control of their behavior behind the wheel.  For more, visit www.edriving.com.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 165 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. Learn more at www.fico.com.

FICO is a registered trademark of Fair Isaac Corporation in the US and other countries.

OnCourse Learning acquires education leader in assisted living, non-medical home care

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OnCourse Learning acquires education leader in assisted living, non-medical home care

September 14, 2016 – In keeping with the company’s growth strategy, OnCourse Learning today announced the acquisition of the Institute for Professional Care Education, a leader in training and compliance solutions for assisted living communities, home care providers and home health agencies.

“As a top provider of training for non-medical home care and assisted living caregivers, IPCed is a welcome addition to our family,” said Patrick Sheahan, president and CEO of OnCourse Learning. “This acquisition allows us to build on our strong foundation in healthcare education by expanding our content catalog to meet the training needs of professionals across the provider landscape, in both acute and post-acute care settings.”

IPCed, based in Vancouver, Wash., was founded in 2003 and has experienced rapid growth, including the recent acquisitions of Medifecta Healthcare Training in 2012 and the Care and Compliance Group in 2014. With a team of 50 employees, IPCed offers online training for some of the nation’s fastest-growing professions, including assisted living administrators and personnel, as well as direct care workers throughout the senior and post-acute industries. OnCourse Learning is the nation’s top provider of online training for registered nurses via Nurse.com, a popular hub for nursing news, jobs and education content, and CE Direct, the company’s market-leading product platform for hospitals and health systems.

“I’ve always been passionate about education,” said Sharon K. Brothers, CEO and co-founder of IPCed. “It is so clear to see the positive outcomes that accompany quality education. IPCed’s courses are designed to get people so excited about training that they go back and take more courses without being mandated. OnCourse Learning’s focus on content as well as their technology platform will give us opportunities to improve the quality and delivery of our courses and modernize the user experience.” 

OnCourse Learning, which formed in 2007, provides workforce solutions and professional training for the healthcare, financial services and real estate industries. The company offers 30,000 hours of content to 500,000 students annually. IPCed represents the third acquisition for OnCourse Learning in the healthcare training industry since entering the fast-growing vertical with the purchase of Gannett Healthcare Group (Nurse.com), in 2014.

Brothers and her husband previously owned assisted-living facilities in Oregon and California. They saw a need for every employee on every shift to get the same level of training. That need spawned the formation of their company, first known as EasyECU Inc., which started with a focus on training leaders then moved to hands-on care providers.

“If you want to effect change, you start with leaders,” Brothers said. “I know from personal experience that there are a whole lot of people who have found their niche as direct-care workers. It doesn’t stop their career ladder. They can continue to grow their skills and knowledge and expertise.”

“Sharon’s three decades of experience and knowledge in the industry have made her a passionate thought leader,” Sheahan said. “IPCed’s goals align well with OnCourse Learning, and we look forward to helping providers across the country improve patient care through training and education.” 

IPCed, which will continue operations from its home office in Vancouver, Wash., offers a series of specialized certifications for caregivers, including dementia care, Parkinson’s care, end-of-life care and diabetes care. The company also offers training materials, such as DVDs and care checklists, for family members who provide care to loved ones.

OnCourse Learning has more than 300 employees across the country, including at the company headquarters in Wisconsin and offices in Hoffman Estates, Ill., Atlanta and Hunt Valley, Md. OnCourse Learning is a CIP Capital portfolio company.

 

About OnCourse Learning

OnCourse Learning delivers licensure, regulatory and compliance education solutions throughout the nation’s leading industries including healthcare, financial services and real estate. Through trusted industry expertise, compliance management and technology solutions, OnCourse Learning focuses on advancing the e-learning environment for individuals and businesses to help to build new careers, empower employees through knowledge and identify efficiencies in corporate training management. OnCourse Learning offers a full suite of educational products including state and federally approved prelicensing and continuing education programs, accredited course content, exam prep tools, publications, e-books, events and a sophisticated and customizable learning management system and course-authoring tool. To learn more, visit OnCourseLearning.com.

CIP Capital Completes Investment in Human Capital Management Platform

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CIP Capital Completes Investment in Human Capital Management Platform
Growth-oriented, sector-focused firm invests in CARCO, a leading provider of tech-enabled and compliance-driven human capital management and risk management solutions.

September 9, 2016 – CIP Capital has completed an investment in CARCO Group, Inc. (“CARCO” or the “Company”), a leading provider of tech-enabled and compliance-driven human capital management and risk management solutions. The Company’s core solution offering provides robust onboarding and pre-employment background screening services to the large enterprise market. CARCO currently serves clients across the financial services, transportation, and media and telecom end-markets, among others. CARCO was founded in 1977 and is headquartered in Holtsville, NY.

“We are delighted to announce this strategic partnership with CIP Capital for the next stage of our company’s growth,” said James Owens, CEO of CARCO. “CARCO has been setting the standard for accurate and reliable background screening services since our inception almost 40 years ago.  By providing a comprehensive and technology-driven solution, CARCO has become the recognized leader in serving corporations throughout the employee hiring process.  CIP Capital has demonstrated a deep understanding of our business model and how CARCO uniquely serves our valued clients to meet their human capital management and risk management needs. We look forward to making continued investments that will further develop and expand our solution offering in order to better serve our client base.”

“CARCO represents an exciting opportunity for CIP Capital in the growing human capital management market,” said Scott Marden, Managing Partner of CIP Capital. “We believe large corporations will continue to seek best-in-class providers to assist with risk management and compliance solutions across the employee lifecycle.” CARCO represents CIP Capital’s second investment in the human capital management space. Bobby Kelly, Managing Director of CIP Capital, added: “CARCO has differentiated itself in the market through its high-quality and accurate processes, commitment to regulatory compliance, and leading technology capabilities. We look forward to partnering with Jim and the CARCO management team to build on their strong client relationships and stellar reputation.”

Sidley Austin LLP served as legal counsel to CIP Capital. JEGI served as financial advisor and Seward & Kissell LLP served as legal counsel to CARCO.

 

About CARCO

CARCO is a leading provider of tech-enabled and compliance-driven human capital management and risk management solutions. The company’s core onboarding and pre-employment background screening offering provides clients with a high quality, regulatory compliant, and tech-enabled solution. CARCO currently serves clients across the financial services, transportation, and media and telecom end-markets, among others, and offers transportation clients a comprehensive, industry-focused solution through its Driver iQ branded offering. CARCO is headquartered in Holtsville, NY and has office locations in Spring Lake, NC, Tulsa, OK, and Tustin, CA. For more information please visit: www.carcogroup.com

CIP Capital Completes Platform Investment in Affinitiv

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CIP Capital Completes Platform Investment in Affinitiv
Strategic combination of DPS, Peak Performance, OneCommand and TimeHighway.com to create a marketing technology leader in the automotive dealer solutions market

September 8, 2016 – CIP Capital has completed a strategic investment in Affinitiv, Inc. (“Affinitiv” or the “Company”), a leading provider of marketing and technology services to automotive manufacturers (“OEMs”) and dealerships. Affinitiv is a newly formed entity exclusively focused on the automotive market through the merger of four market leading companies: DPS, Peak Performance, OneCommand and TimeHighway.com. This strategic combination provides both OEMs and dealers with an end-to-end marketing solution that leverages multi-channel communications, technology, and analytics to create connected customers for life. With a focus on driving retention and loyalty throughout all phases of the automotive customer lifecycle, Affinitiv provides a consistent customer experience across all channels. 

Affinitiv is built on long-term relationships with leading OEMs, dealership groups, and individual dealers with a commitment to customer service and technology innovation. Affinitiv serves over 5,500 dealerships through the largest sales and customer service team in the automotive marketing technology space. Affinitiv will significantly invest in its existing technology platform to extend its advanced analytics capabilities with a focus on connected car and mobile solutions that will enhance and personalize the customer experience. Affinitiv has market leading solutions across online and offline channels, with enhanced digital, social, and telematics solutions that connect automotive OEMs and dealers to their customers to drive brand loyalty and revenue across the dealership. In addition, Affinitiv is the only solution in the market with an integrated service marketing and appointment scheduling capability.

All four CEOs of the combined companies have joined the newly formed Company in executive roles and are investors in the transaction. In addition, CIP Capital has partnered with several senior executives from the automotive market to form the leadership team of Affinitiv. Mike Doobay, a long-term industry veteran in the automotive market, has been named CEO of Affinitiv. “Affinitiv will combine the best of each company with the sole focus of serving our OEM and dealer partners with a market leading solution that effectively manages all aspects of the customer lifecycle,” said Mr. Doobay. “The scale and reach of Affinitiv will allow us to invest in the best people, technology platform, and analytics capabilities to meet the changing needs of our customers.” Jeff Hart, former President and CEO of OneCommand, joins Affinitiv as COO. Mr. Hart added, “Affinitiv is committed to providing a whole new approach to creating connected customers for life. This is a highly exciting combination for our customers, employees, and shareholders.”

Affinitiv represents the third investment for CIP Capital in 2016 and will be a buy and build platform with an exclusive focus on the automotive marketing technology space. “We are thrilled to launch Affinitiv through the strategic combination of four market leading companies that all believe in our plan to invest aggressively in new digital, telematics, and analytics capabilities,” said Justin Lipton, Managing Partner of CIP Capital. He adds, “We see a unique opportunity to build the leading independent player in the automotive marketing technology space with a highly differentiated value proposition.”

Affinitiv is headquartered in Chicago, Illinois, with seven offices across North America. Affinitiv generates over $100 million in annual revenue and employs over 500 team members.

 

About Affinitiv

Affinitiv is a leading marketing technology company exclusively serving automotive manufacturers (OEMs), dealership groups, and individual dealers. Affinitiv enables its customers to produce, manage, measure, and optimize multi-channel communications to drive brand loyalty and increase revenue across the dealership. Affinitiv’s digital and analytic capabilities offer an end-to-end solution that supports a consistent experience across the entire consumer lifecycle. Affinitiv was formed through the strategic combination of DPS, Peak Performance, OneCommand, and TimeHighway.com. Affinitiv is headquartered in Chicago, IL.