Reprinted from The New York Times:
Limos.com Raises $10 Million from Austin Ventures
By MICHAEL J. DE LA MERCED – March 29, 2011, 7:48 am
12:56 p.m. | Updated
Austin Ventures is betting that after flights and hotels, limousine rentals will be the next sector ripe for transformation by the Internet.
The venture capital firm announced on Tuesday that it had invested $10 million in Limos.com, a start-up focused on bringing online reservations to black-car bookings. Specific terms were not disclosed, though Mike Dodd, a partner at Austin Ventures, told DealBook that the firm would take a significant stake in the business and two seats on its board.
Led by several co-founders of the online travel site Hotwire.com, Limos.com aims to bring the same sort of online reservation model to the much more fragmented world of town car service operators. (The executives bought Limos.com from a another car operator in early 2008 for about $5 million, and have run the business on what T. J. Clark, the company’s chief executive and a former vice president at IAC/InterActiveCorp, said was a tight budget.)
The Limos.com team and Austin Ventures see the industry as one with high potential: private cars generate some $17 billion in revenue, but less than 5 percent of bookings are made online, the two say. That could improve if customers ultimately see lower prices from more transparent pricing.
“We think this market is in its first inning,” Mr. Dodd said. “Having town car service with similar pricing to taxis, that’s pretty unique value proposition that hasn’t been told yet.”
But building on the business has meant a lot of dialing up limo operators and convincing them of the benefits of joining one Web-based reservation system, executives say. So far, Limos.com has signed up about 2,000 limo operators of an estimated 8,000 across the country, Mr. Clark told DealBook.
Limos.com is also expanding a new corporate arm, Limos for Business, that is meant to tie into corporations’ backend systems. The company has signed up 750 companies, who have more than 10 employees using the system so far.
Limos.com had not been looking for venture capital, Mr. Clark said, but had crossed paths with Austin Ventures, which had been interested in new investments in the travel industry. The new capital will go toward more marketing and investing in the company’s technology systems, including G.P.S.-enabled Web apps for smartphones.
It will also go toward expanding abroad, where it has already established outposts in several dozen countries, including China, India and South America over the last year.
ALEXANDRIA, VA (PRWEB) MARCH 15, 2011 – Washington DC area startup EquipRent.com, a lead-generation company focused on the equipment rental market, has raised $1 million in seed funding from Phoenix-based venture firm Canal Partners and angel investor Howard Lindzon.
EquipRent.com is the brainchild of Scott Anderson who has been an executive in the construction industry in the Washington, DC area for 20 years.
Anderson says, “During my many years as a senior executive with some of the largest site development companies in DC, I felt the pain of how much time and money was being spent on getting competitive quotes for equipment rental on jobs. The tools to effectively manage our rental inventory and quotes were simply not available”
Equiprent delivers highly qualified leads to top equipment rental companies in the country while also providing tools for contractors to effectively manage their rental inventory. The service enables contractors to receive multiple quotes in the most efficient way possible using the benefits of the Internet.
You simply select the equipment you need to rent and enter your contact information into the EquipRent quote engine. The quote engine matches the closest rental companies to get the most competitive prices in the market. The company is working on additional features, which it plans to release this summer, that allow companies to track all of the equipment they have on rent and on what jobs it is located on. Later this year, EquipRent plans to launch a mobile application that will offer all of the tools that construction firms need to manage their rental inventory and quotes using their smart phone. Since launching Equiprent has processed over 1,000 quotes for the Construction industry.
Three-year-old Canal Partners currently has investments in 4 other Internet companies, Limos.com, NETtime Solutions, Web PT, and Omnilink Systems. Canal Partners seeks to realize superior returns by investing and partnering with proven management teams to create and increase value for highly scalable, growth-oriented companies – with a focus on software and Internet technologies.
EquipRent.com is a brand/product of EquipCo LLC, headquartered in Alexandria, Virginia. The company’s mission is to connect commercial construction companies with construction equipment rental companies in order to deliver highly qualified opportunities to rental companies and enable contractors to receive multiple quotes in the most efficient and cost effective way possible. For more information about EquipRent’s service and to view a demonstration video, please visit www.equiprent.com.
For more information, contact:
WebPT’s EMR System Now Integrates with Top Medical Billing Software and Service Providers
MARCH 10, 2011
PHOENIX–(BUSINESS WIRE)–WebPT, a Web-based electronic medical records system (EMR) for physical therapists, announces a new Certified Billing Partner program. WebPT is officially launching the program today with two of the industry’s most widely used physical therapy billing solutions, Kareo and BMS. WebPT has already made electronic PT documentation easier, more affordable, and more efficient for today’s mobile PT. The integration of its fully Web-based EMR system with these popular billing solutions means smoother, more efficient billing processes for PT clinics.
“Our customers have told us repeatedly that having WebPT integrate with their billing would make operations much easier and speed up the collections process,” said Heidi Jannenga, PT, MPT, co-founder and COO for WebPT. “Our new billing partnerships enable us to deliver more efficiency to our customers as well as provide an integrated solution that we couldn’t offer before.”
WebPT has grown significantly in the past three years, showing a 300 percent total growth in 2010. Current customers expressed the need to integrate WebPT with their existing billing software and service providers, and WebPT has delivered. “Our Certified Billing Partner program allows WebPT customers the freedom to select from the best billing service providers and billing software solutions on the market today. We are proud to partner with Kareo and BMS, two established leaders in serving the needs of the physical therapy industry,” added Paul Winandy, CEO of WebPT. The company plans to add additional partners throughout 2011.
Kareo provides an easy-to-use, Web-based medical billing software that’s one of the most well known in the PT market. Kareo chose to partner with WebPT because of the application’s leading market share, Web-based model, and how it successfully meets the needs of the therapy market. “It’s hard enough for clinics to move to an electronic system and show meaningful use. It’s up to us, as the vendors, to make it easier for them. Creating billing systems that are simple and easy to learn is one aspect, integrating those with EMR systems like WebPT is the next,” said Dan Rodrigues, CEO of Kareo. “Kareo’s integration with WebPT enables physical therapists to seamlessly manage the entire clinical and financial workflow of their clinics. It’s our pleasure to bring this integration to our customers and WebPT’s, to make their operations more hassle-free.”
BMS is dedicated to providing premium revenue cycle management and billing and collection services specifically for rehabilitation practices. BMS CEO John Wallace says of the partnership, “We are confident that the practices that use WebPT’s Certified Billing Partner program will see the benefits of a complete, well-integrated billing platform. Through this partnership we are now able to offer the strength of an easy to use, PT-centric EMR system combined with a proven billing service that is already utilized by a large portion of the therapy industry.”
WebPT Certified Billing Partners are approved billing software and services vendors with integration to WebPT’s fully Web-based EMR system. WebPT’s engineers have worked directly with these vendors to build, test and certify the technical integration between systems for a superior offering customers can count on. More information can be found at http://www.webpt.com/features/billing.
Reprinted from: EMR Daily News
Launch of EquipRent.com Provides Contractors with Free, Easy Online Access to Equipment Rental Quotes
ALEXANDRIA, VA, MARCH 1, 2011 – EquipRent.com™, the only online service solely focused on construction equipment rental, launched today at http://www.EquipRent.com. The website was established to provide construction contractors with an easy, efficient way to obtain multiple quotes from different equipment rental companies – in one location and at no cost to the contractor, and to allow rental companies to receive highly qualified opportunities in a more cost-effective way.
“No longer will it take numerous phone calls and follow-ups, or visits to several rental sites, to obtain the quotes contractors need,” said Scott Anderson, EquipCo™ LLC/EquipRent.com founder and CEO. “After working in this industry for more than 20 years, I know how time consuming it can be to get the quotes you need in a timely, cost-effective way. I developed EquipRent.com to streamline the process, helping contractors save both time and money.”
In less time than it takes to complete a phone call with just one rental company, contractors can go to http://www.EquipRent.com and get multiple quotes from top rental companies for free. Contractors can select the equipment they need, put in their contact information and location of the project, and submit it. The request is immediately sent to a network of 1,500 locations, and the rental companies in the area will send price quotes directly to the contractor. The contractor also can set up an account with a user ID and password, and EquipRent.com will store all the information about past projects for easy tracking and management of rental equipment.
The service went through a rigorous beta test over a 60-day period, during which it was used by construction companies across the entire United States to obtain quotes. Beta users agreed that the site saved time and money and made it easier and faster to get equipment rental quotes.
“I decided to try EquipRent.com since it sounded easy and convenient — and it was,” said Patrick Snapka, project manager/estimator, H&G Systems in Garland, Texas. “It only took a few minutes on the computer, and I didn’t have to make any calls to rental companies to get pricing. I received multiple quotes from rental companies within an hour after submitting my request. With this being a free site that is fast and convenient, I will continue to use EquipRent.com.”
“I have been in the construction industry for over 20 years using the traditional means for renting equipment, said Kevin Palka, president and CEO, Asset Construction Services, Washington, DC. “With EquipRent.com, we save time and money from our traditional means of renting equipment and established a relationship with a new vendor.”
“[EquipRent.com] worked great, was fast and easy, and I didn’t have to make any phone calls to the rental companies,” said Tony Trepasso, estimator, Avondale Construction Company, Denver, Colorado. “I will continue to use the site, especially when bidding jobs.”
A brief video demonstration of how the site works is available at https://equiprent.com/demo.
EquipRent.com is a brand/product of EquipCo LLC, headquartered in Alexandria, Virginia.
The company’s mission is to connect commercial construction companies with construction equipment rental companies in order to deliver highly qualified opportunities to rental companies and enable contractors to receive multiple quotes in the most efficient and cost effective way possible. Canal Partners LLC, a Scottsdale private-equity firm that focuses on software and Internet technologies, is EquipRent’s private equity partner. For more information about EquipRent’s service and to view a demonstration video, please visit http://www.equiprent.com.
For more information, contact:
Mt. Vernon PR & Communications
703.799.8165 (o) 703.946.3820 (cell)