Tech Coast Angels Invested Best Ever $16.37 Million in 2014

Southern California Angel Network Surpasses Previous Records for Both Investments and Activity

IRVINE, Calif. January 29, 2015 Tech Coast Angels (TCA) invested a total of $16,373,337 in 61 total deals in Calendar Year 2014. The angel network announced that 2014 was the most active year since the networks inception in 1997 for number of deals funded, and capital raised was also the largest ever. TCAs five networks throughout Southern California invested in a variety of industries last year, including consumer goods, healthcare, biotechnology, HIPAA-compliant data storage, social networking, organic agriculture, and automobile technology.In 1H 2014, TCA investments totaled $6,321,874 in 27 total deals. 2H 2014 saw a nearly 60% increase in the amount of total investment from the first half of the year, with $10,051,463 in 34 total deals. Compared to 2013, the angel network increased its total investment portfolio by nearly 12%, from $14,639,612 million in 2013 to $16,373,337 in 2014.After four successful exits in 2013 (Cognition Technologies, Green Dot, Lend Amend and Trius Therapeutics), 2014 brought five more positive exits with AIRSIS, Allylix, Bluebeam Software, Hookit (formerly Loopd Networks), and Mindbody Software. TCAs portfolio of new deals for 2014 include: Aggregage, Apeel Sciences, Ascendant Spirits, Beacon Healthcare, Edufii, Fusion Brake, GoBookIt, ImmunoGum, iPourIt, LeaseLock, Neural Analytics, Parcel Pending, Perfectna, Portfolium, Respiratory Motion, RetroSense Therapeutics, Ring Router, Schlep & Fetch, Soma Bar, Spine Innovation, The Influential Network, TrueVault, Unlicensed Chimp Technology, and WeGoLook. “We are excited by the quality and unique breadth and scope of these great, young, mostly Southern Californian companies that we can support through our experience and capital, said Michael Green, TCA incoming chairman. “We look forward to continuing to find, hone and cultivate the many outstanding early-stage companies in our community in 2015.

The Healthcare Industrys First Automated Compliance Solution

Beacon Healthcare Systems, Inc. presents itself as a SaaS Medicare advantage (and eventually medicaid) compliance solution. This is the healthcare industry’s first automated compliance solution. The plan is to specifically target Medicare Advantage and Medicaid Health Plans, which consist of about 140 health plans that can benefit from their compliance solution. They’ve done a lot of work and proven their worth on their own by reaching their prospects through direct sales efforts, webinars, marketing, and trade shows.

 

Tech Coast Angels caught wind of this innovative company and invested in its future. That future is expected to conclude in being acquired by Trizzeto or TMG Health. According to Beacon Healthcare Systems, Inc., current exit multiples are ranging between 3-6x TTM Revenues.

 

Of course the credibility of a CEO is always a huge indicator of success potential. In Chairman & Founder Ken Stockman they have the perfect fit: Someone who was a former Health Plan CFO and also worked for a Medicare Advantage billing solution as the primary implementation expert. We’re happy to say that the board of directors consists of a 20+ year seasoned leading Southern California angel investor, and a former founder and president of Plan Data Management, which was a Medicare Advantage billing solution and was sold to TriZetto.