SSM NEWS
NEW INVESTMENTS
PORTFOLIO COMPANY NEWS
SSM NEWS
SSM announces name change
After many years doing business as SSM Ventures, we have decided to change our
name to SSM Partners. In making this change, we want to emphasize the importance
we place on building lasting partnerships with talented management teams. We
feel that this name better reflects our philosophy of doing business. Our investment
strategy, which entails a predominant focus on late-stage and expansion-stage
business services, healthcare services and consumer related businesses, has not
changed. If you come across a company that fits that description, please give
us a call!
While we were at it, we also thought it was a good time to “refresh” our website.
Visit our new site at www.ssmpartners.com.
SSM hires Hunter Witherington
In August 2004, Hunter Witherington joined our team as an Associate. Hunter
joins us from the investment banking group at Stephens Inc. where he concentrated
on corporate finance transactions in the healthcare and energy sectors. Hunter
graduated Phi Beta Kappa from Vanderbilt University in 2002 with a BA in Economics.
Hunter will provide analytical support as a member of our investment team and
will assist portfolio companies in various strategic efforts as well. We couldn’t
be happier to welcome Hunter to our team.
NEW INVESTMENTS
Plan Express raises $5 million to fund expansion plans
In November 2004, we led a $5 million Series B investment in Memphis-based Plan
Express, Inc. Joining us in this investment was Frontier Capital of Charlotte,
NC.
Plan Express serves the architectural, engineering, and construction industries
with centralized blueprint ordering, document management and distribution and
logistics services. Plan Express delivers its service utilizing web-based “plan
room” technology, enabling customers to view, print and distribute blueprints
via the Internet. Since closing, we have worked in close partnership with CEO
and founder DeWayne Adamson to recruit key management and evaluate marketing plans.
We’re very happy to be partnered with a talented entrepreneur like DeWayne and
look forward to supporting him as he grows the business.
As a part of this financing, our Partner Jim Witherington joined Plan Express’
board and Vice President Robert Covington joined as an observer.
Senior Whole Health raises $7.5 million in Series A round
In October 2004, we joined Noro-Moseley Partners, New Capital Partners and Council
Ventures in a $7.5 million Series A financing for Senior Health Holdings (d/b/a
Senior Whole Health).
Senior Whole Health is a managed care company serving the “dual eligible” population.
This population, which is comprised of those people who are eligible for both
Medicare and Medicaid, has historically accounted for up to 35% of state Medicaid
budgets. Led by a seasoned group of managed care veterans, Senior Whole Health
improves the coordination and quality of care provided to this often poorly-served
segment of the population.
As a part of this financing, SSM Vice President Casey West joined Senior Whole
Health’s board as an observer.
Fuego raises $5 million for further growth
In November 2004, we joined co-investors Trinity Ventures, Sevin Rosen Funds,
Stephens Group and Star Ventures in a $5 million investment in Dallas-based Fuego.
We initially invested in Fuego in 1999.
Fuego enjoyed a year of breakout performance in 2004. A provider of process-driven
enterprise software solutions that reduce the complexity of configuring and changing
critical business processes, Fuego targets a market that industry analysts view
today as one of the most important IT growth segments. We look forward to Fuego’s
continued success.
PORTFOLIO COMPANY NEWS
