|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.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 27, 2016 11:15 AM EDT Reads: 946
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 27, 2016 11:00 AM EDT Reads: 1,584
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 27, 2016 11:00 AM EDT Reads: 2,681
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 27, 2016 10:30 AM EDT Reads: 2,185
SYS-CON Events announced today that CDS Global Cloud, an Infrastructure as a Service provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CDS Global Cloud is an IaaS (Infrastructure as a Service) provider specializing in solutions for e-commerce, internet gaming, online education and other internet applications. With a growing number of data centers and network points around the world, ...
Sep. 27, 2016 10:30 AM EDT Reads: 2,848
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Sep. 27, 2016 10:15 AM EDT Reads: 3,150
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Sep. 27, 2016 10:00 AM EDT Reads: 2,177
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Sep. 27, 2016 10:00 AM EDT Reads: 1,038
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Sep. 27, 2016 09:30 AM EDT Reads: 2,685
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
Sep. 27, 2016 08:30 AM EDT Reads: 2,644
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Sep. 27, 2016 08:15 AM EDT Reads: 2,632
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Sep. 27, 2016 08:00 AM EDT Reads: 2,004
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 27, 2016 08:00 AM EDT Reads: 3,724
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 ...
Sep. 27, 2016 07:45 AM EDT Reads: 3,307
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 ...
Sep. 27, 2016 07:45 AM EDT Reads: 2,518
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Sep. 27, 2016 07:30 AM EDT Reads: 2,987
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT de...
Sep. 27, 2016 07:15 AM EDT Reads: 1,123
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Sep. 27, 2016 06:45 AM EDT Reads: 3,345
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 27, 2016 06:30 AM EDT Reads: 1,916
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 27, 2016 05:30 AM EDT Reads: 1,166