Baltimore’s eO­rig­i­nal raises $26.5 mil­lion

Baltimore Sun - - NATION & WORLD - — Sarah Gantz — Sarah Gantz

Baltimore soft­ware firm eO­rig­i­nal Inc. has raised $26.5 mil­lion in an in­vestor eq­uity round to ex­pand its dig­i­tal trans­ac­tions man­age­ment busi­ness. The round was led by LLR Part­ners, a Philadel­phia-based pri­vate eq­uity firm. EO­rig­i­nal will use the money to grow its staff and bol­ster prod­uct de­vel­op­ment, of­fi­cials say.

The raise is in re­sponse to grow­ing mar­ket de­mand, as com­pa­nies look to shift more of their busi­ness to elec­tronic plat­forms, said CEO Stephen Bis­bee in an in­ter­view. “We are see­ing more op­por­tu­nity in front of us than we’re able to ex­e­cute with our cur­rent staff,” Bis­bee said.

Founded in 1996, eO­rig­i­nal spe­cial­izes in tools for com­plet­ing and man­ag­ing dig­i­tal busi­ness trans­ac­tions, while pro­tect­ing the se­cu­rity of sen­si­tive in­for­ma­tion. Com­pany prod­ucts in­clude an elec­tronic sig­na­ture and an as­set man­age­ment plat­form that han­dles the en­tire life of an elec­tronic trans­ac­tion. The pro­grams are used in mar­ket­place lend­ing, ve­hi­cle and equip­ment fi­nanc­ing, and bank­ing. Nis­san, US Bank and Pro­tec­tion1 Se­cu­rity So­lu­tions are among eO­rig­i­nal’s clients. The com­pany is based at the Ware­house at Cam­den Yards, and ex­pects to em­ploy 72 peo­ple by the end of the year and dou­ble its staff in 2017. June. Terms were not dis­closed.

Po­laris will de­velop tech­nol­ogy and se­cu­rity so­lu­tions for de­fense and in­tel­li­gence clients. The com­pany projects rev­enue of $250 mil­lion in 2017. The com­pany will main­tain of­fices of its three merged com­pa­nies. It will also have of­fices at Aberdeen Prov­ing Ground and in Alexan­dria, Va. The merged com­pany will have about 1,100 em­ploy­ees, in­clud­ing 120 from PROTEUS.

Founded in 1999, PROTEUS de­vel­ops cy­ber se­cu­rity and soft­ware tools for gov­ern­ment clients. PROTEUS co-founder and pres­i­dent Chuck Tay­lor said in a state­ment he thinks join­ing forces with EOIR Tech­nolo­gies and In­tel­li­gent Soft­ware So­lu­tions is a way for the com­pany to make a big­ger dif­fer­ence.

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