|By Xenia von Wedel||
|October 4, 2012 03:25 PM EDT||
Thanks for taking the time to answer my questions. Please tell us, what is GIVINGtrax is all about and what do you do?
Hungerford: GIViNGtrax provides all businesses a shared, cloud-based, marketplace for giving, engaging employees and customers in the process, along with each other.
What are you launching at DEMO Fall 2012?
Titus: GIViNGtrax is launching in beta at DEMO Fall 2012, proving business the ability to manage their own giving, to create employee giving programs, and to increase customer loyalty, to offer customer match giving. Businesses are able to easily publish their giving in real-time, allowing them to leverage their community giving to increase and promote their business. Along with hero images, businesses can showcase customer match offers, nonprofits supported, and a transparent view of their giving.
Individuals are able to create a profile, manage donations and optionally, connect with their employer to take advantage of employer to matched giving programs.
Nonprofits are able to register, create a dedicated microsite and seek donations from businesses and individuals. For the first time, nonprofits are empowered with tools to share and bring value back to businesses that support them. If approved by a business, they can say "thanks" and share for impact stories in GIViNGtrax and across other social media sites, such as Facebook.
Who is your target audience and how do you intend to reach them? What is the biggest challenge you face right now in telling your story and winning over new clients?
Hungerford: GIViNGtrax works for all businesses, large and small. For larger companies, we are partnering with Global Impact, the largest facilitator of workplace giving in the U.S. we are also pursuing partnerships with United Way starting in the Pacific Northwest as a pilot.
For smaller businesses, our sweet spot is consumer facing, multi-unit entities, such as franchise groups and retailers. GIViNGtrax allows these organizations to manage their giving at the local level and the ability to selectively roll up their giving within their organization or across organizations, such as to a franchisor or industry association.
I'd be curious to hear any general thoughts you have on market trends...
Titus: Online giving is growing exponentially, but it is fragmented and disconnected from the workplace. If you think about consumers, they give at events, online, at work and by text. GIViNGtrax bridges the gap across these diverse ways to give and puts the consumer in charge of their giving from one dashboard.
What is the viral aspect of your product?
Hungerford: Our business members will pull in both non-profit members and employees. Customers will also be engaged through business members.
Non-profits will bring the community of business and individuals connected to them onto our marketplace.
For the first time, nonprofits are empowered with tools to help them be more effective. The network among non-profits is strong and we already have many nonprofits participating in GIViNGtrax.
How will you make money? What's the business model?
Titus: Businesses pay a nominal subscription fee based on the number of locations they want to manage and how many employees they have. Nonprofits, employees, and individual consumers use GIViNGtrax at no charge.
How does your technology differentiate from the competition and can you elaborate on the different technology deployed?
Hungerford: GIViNGtrax is unique in that we offer a shared cloud-marketplace, embracing business giving, employee workplace giving and consumer giving in a collaborative fashion. In bringing these diverse users together, we are able to facilitate some really interesting interactions between them benefiting nonprofits, such as capturing employer matched giving at the point of donation by an employee.
What business or technology could yours disrupt?
Hungerford: GIViNGtrax is disruptive to both traditional workplace giving and to the methods nonprofits use to raise money.
Traditional workplace giving takes place manually or with isolated internal tools. In GIViNGtrax, employees are empowered to enjoy workplace giving, but for the first time, can also enjoy inter-company workplace giving with friends and family. My friends work at IBM, Microsoft and my husband's restaurants. Now, we can all share our favorite causes with each other and share our giving even though we are also participating in our employer’s sponsored workplace giving.
If you later change employers, you can simply disconnect from your current employer, and when ready connect to your new employer. In the meantime, all your giving history, photos, video and stories from your favorite causes remain intact on your dashboard.
Who founded the company, when? What can you tell me about the story of the company's founding?
Hungerford: GIViNGtrax has three founders and first began when my husband encountered a problem with our own giving at Round Table Pizza. Although we were giving nearly $100,000 every year, no one knew. We were bombarded with donation requests all the time and had no way to manage our giving, let alone engage customers and employees in the process.
What is your distribution model? Where to buy your product?
Hungerford: To subscribe to GIViNGtrax, prospective members simply go to www.GIViNGtrax.com. GIViNGtrax has a strong network effect and we will be using social media to create awareness. Additionally, we have partnered with Global Impact and are pursuing partnerships with other traditional workplace giving providers, along with membership-based associations. Agent Ambassadors will be focused on selling subscriptions in key geographies as we roll out to augment our partnership strategy.
What's next on your product roadmap?
Titus: We have a lot of exciting enhancements rolling out over the next few months, benefiting employees and non-profits. The most impactful for non-profits is the ability to allow them to submit a donation request to the “cloud” and be matched with businesses that have budget and are likely to approve it.
Are you targeting a first VC round?
Hungerford: Yes, we welcome funding to help us accelerate our product development, particularly mobile enhancements.
What else would you like to add?
Titus: By using a shared marketplace, GIViNGtrax allows all businesses, large and small, to band together making a collective impact to benefit non-profits. Simple by using a shared system, we are able to streamline the process for nonprofits and eliminate tremendous waste.
Partnerships, collaborations or affiliations: We have partnered with Global Impact and look forward to partnering with United Way of Pierce County, as a pilot project.
Market size being pursued: 27M businesses are inundated with donation requests from over 1.5 nonprofits in the US alone. When you consider the sheer volume, we have a massive opportunity, well over $1.0 B.
Who are the likely competitors, direct or indirect?
We currently have no direct competitor for the shared marketplace. There are several isolated internal systems in use today for workplace giving, and of course there are many consumer donation sites, but no one offers a holistic approach seamlessly tying it all together.
Is the company profitable?
GIViNGtrax is launching in beta this week at DEMO Fall 2012 and we do have a plan to profitability within a year.
GIVINGtrax's platform for collaborative & transparent philanthropy seamlessly taps into $400 billion in advertising & marketing, while connecting businesses, employees and customers via social media. Businesses can manage their own giving, along with offering matched giving programs for employees and customers.
After donating hundreds of thousands of dollars in cash, in-kind, and labor to nonprofit organizations throughout their community, founders Karrie and Lance Hungerford had to reevaluate their giving in the face of the economic downturn. As nonprofit board members, they understood the devastating impact to nonprofits of reduced business funding in the face of government cutbacks and growing social need, and looked for a way to divert traditional advertising and marketing funds while still growing their business.
GIVINGtrax addresses these challenges by overhauling a manual and cumbersome process, enabling local businesses to give more, engage customers & employees, and showcase the impact of their gifts in their local community.
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 2, 2016 01:30 AM EDT Reads: 826
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2016' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited t...
Jul. 2, 2016 01:00 AM EDT Reads: 731
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 1, 2016 08:30 PM EDT Reads: 802
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
Jul. 1, 2016 06:30 PM EDT Reads: 777
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jul. 1, 2016 06:00 PM EDT Reads: 548
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Jul. 1, 2016 05:30 PM EDT Reads: 793
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, provided an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profession...
Jul. 1, 2016 05:15 PM EDT Reads: 649
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 1, 2016 04:15 PM EDT Reads: 262
Ask someone to architect an Internet of Things (IoT) solution and you are guaranteed to see a reference to the cloud. This would lead you to believe that IoT requires the cloud to exist. However, there are many IoT use cases where the cloud is not feasible or desirable. In his session at @ThingsExpo, Dave McCarthy, Director of Products at Bsquare Corporation, will discuss the strategies that exist to extend intelligence directly to IoT devices and sensors, freeing them from the constraints of ...
Jul. 1, 2016 03:15 PM EDT Reads: 330
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jul. 1, 2016 02:00 PM EDT Reads: 1,434
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Jul. 1, 2016 01:15 PM EDT Reads: 353
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jul. 1, 2016 01:00 PM EDT Reads: 1,053
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Jul. 1, 2016 01:00 PM EDT Reads: 707
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
Jul. 1, 2016 12:30 PM EDT Reads: 693
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 1, 2016 12:00 PM EDT Reads: 664
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 1, 2016 10:45 AM EDT Reads: 583
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 1, 2016 10:30 AM EDT Reads: 1,114
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Jul. 1, 2016 10:00 AM EDT Reads: 537
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 1, 2016 09:30 AM EDT Reads: 1,208
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Jul. 1, 2016 09:00 AM EDT Reads: 709