|By Business Wire
|July 21, 2014 05:41 PM EDT
Rainmaker Systems, Inc. (OTCQX: RMKR), a provider of B2B e-Commerce
solutions and services, today announced that it has successfully raised
over $2.5M of a targeted $3.2M recapitalization in a convertible note
financing. The Company has to date received net proceeds of
approximately $2.3 million from the financing after deducting fees and
estimated expenses payable by the Company. The Company used a portion of
the net proceeds from the financing to repay its outstanding
indebtedness owing to Comerica Bank and Agility Capital II, LLC.
Focus on ViewCentral
In addition, the Company announced that going forward it plans to
increase its focus on ViewCentral, making the preeminent
Training-for-Profit SaaS platform a key element in its product mix.
“ViewCentral has established itself as the best of breed SaaS solution
in the rapidly growing External Enterprise Training market segment,”
said Terry Lydon, Vice President and General Manager of Learning
Management Systems. “The ViewCentral division has achieved impressive
margins and nearly 100% customer loyalty and retention. We expect this
trend to continue.”
As part of this strategic realignment, the Company announced that it has
begun a search for a new President and CEO with Learning Management
Systems -specific experience, and that Board member Jim Hopkins has
assumed the rolls of acting CEO as well as Chairman of the Board and
Chair of the Governance and Nominating Committee. Don Massaro has
resigned from the Company’s Board and as President and CEO, effective
July 15, and Brad Peppard has resigned from the Board effective July 15,
though he continues presently as Executive Vice President and Chief
Call Center Services
Rainmaker continues to provide world-class call center services on three
continents for clients for both Fortune 500 and SMB clients, delivering
incremental revenue and uncovering new revenue opportunities on a pay
for performance basis.
For more information on Rainmaker Systems’ products and solutions,
please visit both www.viewcentral.com
About Rainmaker Systems, Inc.
Rainmaker Systems is a B2B e-Commerce company that helps organizations
of all sizes, ranging from Fortune 500 enterprises to
small-to-medium-sized businesses, increase training-for-profit revenues
and create new revenue streams from their customer base. With its unique
approach, Rainmaker Systems delivers proprietary cloud-based e-Commerce
technology, global and localized sales-assist agents, allowing customers
to discover and monetize untapped revenue opportunities.
Rainmaker trades in the U.S. on OTCQX under the symbol “RMKR.”
ViewCentral, a Rainmaker Systems company, is a learning management
solution provider to organizations of all size across the technology,
financial services, biosciences, human resources, and consulting
industries, among others. ViewCentral Learning Management System (LMS)
allows organizations to monetize and facilitate the delivery of training
and certification programs, enabling them to capture both incremental
and recurring revenue from subscriptions-based offerings. ViewCentral is
headquartered in Campbell, Calif. For more information, please visit www.viewcentral.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding
future events. These forward-looking statements are based on information
available to Rainmaker Systems as of this date and we assume no
obligation to update any such forward-looking statements. These
statements are not guarantees of future performance, and actual results
could differ materially from current expectations. Among the important
factors which could cause actual results to differ materially from those
in the forward-looking statements are our ability to raise additional
capital to meet our operating requirements, our ability to maintain
compliance with our debt covenants, our ability to reduce our losses and
achieve profitability, our client concentration, as we depend on a small
number of clients for a significant percentage of our revenue, the
possibility of the discontinuation and/or realignment of some client
relationships, general market conditions, the high degree of uncertainty
and our limited visibility due to economic conditions, our ability to
execute our business strategy, the effectiveness of our sales team and
approach, our ability to target, analyze and forecast the revenue to be
derived from a client and the costs associated with providing services
to that client, the date during the course of a calendar year that a new
client is acquired, the length of the integration cycle for new clients
and the timing of revenues and costs associated therewith, our ability
to manage growth, potential competition in the marketplace, our ability
to retain and attract employees, market acceptance of our solutions and
pricing options, our ability to maintain our existing software
technology and to deploy new technology, our ability to sign new clients
and control expenses, the financial condition of our clients'
businesses, the protection of our intellectual property and other
factors detailed in the Company's filings with the Securities and
Exchange Commission ("SEC"), including our filings on Forms 10-K and
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, a...
May. 6, 2015 10:30 AM EDT Reads: 5,458
In his session at WebRTC Summit, Peter Dunkley, Technical Director at Acision, will look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. He will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming.
Peter Dunkley is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in ...
May. 6, 2015 10:30 AM EDT Reads: 604
What if, during a snow emergency, an on-the-ground sensor could automatically trigger a relevant emergency notification related to snowfall and road impact. And then, after it’s triggered, that notification is delivered intelligently to individuals based on an extensive set of rules designed to alert the most available and capable responders.
This “what if” question about “smart highways” is short-sighted. We are already there, and we are only getting started. While mainstream attention is pai...
May. 6, 2015 10:26 AM EDT Reads: 134
There are 182 billion emails sent every day, generating a lot of data about how recipients and ISPs respond. Many marketers take a more-is-better approach to stats, preferring to have the ability to slice and dice their email lists based numerous arbitrary stats. However, fundamentally what really matters is whether or not sending an email to a particular recipient will generate value. Data Scientists can design high-level insights such as engagement prediction models and content clusters that a...
May. 6, 2015 10:15 AM EDT Reads: 4,548
In his session at 16th Cloud Expo, Simone Brunozzi, VP and Chief Technologist of Cloud Services at VMware, will review the changes that the cloud computing industry has gone through over the last five years and share insights into what the next five will bring. He will chronicle the challenges enterprise companies are facing as they move to the public cloud.
He will delve into the “Hybrid Cloud” space and explain why every CIO should consider ‘hybrid cloud’ as part of their future strategy to a...
May. 6, 2015 10:15 AM EDT Reads: 866
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech?
In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
May. 6, 2015 10:00 AM EDT Reads: 5,627
Avnet, Inc. has announced that it ranked No. 4 on the InformationWeek Elite 100 – a list of the top business technology innovators in the U.S. Avnet was recognized for the development of an innovative cloud-based training system that serves as the foundation for Avnet Academy – the company’s education and training organization focused on technical training around top IT vendor technologies. The development of this system allowed Avnet to quickly expand its IT-related training capabilities around...
May. 6, 2015 10:00 AM EDT Reads: 1,002
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched.
@WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication.
@WebRTCSummit Blog can be bookmarked ▸ Here
@WebRTCSummit conference site can be bookmarked ▸ Here
May. 6, 2015 09:45 AM EDT Reads: 3,478
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
May. 6, 2015 09:45 AM EDT Reads: 6,019
A new definition of Big Data & the practical applications of the defined components & associated technical architecture models
This presentation introduces a new definition of Big Data, along with the practical applications of the defined components and associated technical architecture models.
In his session at Big Data Expo, Tony Shan will start with looking into the concept of Big Data and tracing back the first definition by Doug Laney, and then he will dive deep into the description of 3V...
May. 6, 2015 09:45 AM EDT Reads: 1,161
Why does developer experience matters, what makes for a great developer experience and what is the relationship between developer experience and the broader field of user experience?
Software developers are gaining more influence over the purchase decisions of technologies with which they must build on and with which they must integrate. For example, the success of Amazon Web Services, Heroku and MongoDB has been driven primarily by individual software developers choosing to use these tools, ra...
May. 6, 2015 09:40 AM EDT Reads: 346
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures.
Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer.
Only in today's DevOps world, continuous testing, integration, and deployment upend...
May. 6, 2015 09:30 AM EDT Reads: 3,535
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization's assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements?
May. 6, 2015 09:15 AM EDT Reads: 3,819
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions.
Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000.
Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
May. 6, 2015 09:00 AM EDT Reads: 914
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises.
For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives.
The value addition comes from improved customer service, innovative product and additional revenue streams.
The data from these IP-connected devices can be leveraged for a variety of business applica...
May. 6, 2015 09:00 AM EDT Reads: 1,180