Stage 1 Ventures Team
David William Baum, Managing Director | Waltham
David Baum is an experienced general partner with 25 years in the information technology industry, including fifteen years in technology finance and ten years in entrepreneurial operating management roles.
As an operating entrepreneur, David founded two companies including Pensoft Corporation, a venture-backed (Mohr, Davidow Ventures, IVP, and Bay Partners) mobile communications company that was sold to AT&T in 1994. David has also spent time at larger organizations including IBM and Genentech.
David was a key principal that raised, launched, staffed, and managed Prism Venture Partners, a leading early stage venture capital fund. Founded in 1996, Prism has provided start-up equity to more than eighty-five companies, which have completed five public offerings and thirty strategic mergers and acquisitions. During his tenure at Prism, the firm grew from zero to over $1.25B under management. Previous investments include Softricity (sold to Microsoft), Network24 Communications (sold to Akamai), DotBank (sold to Yahoo), Altaworks (sold to Opnet), Integral Access (sold to Telco Systems), Syncra Systems (sold to Retek), Salesnet (sold to RightNow) and Bitfone (sold to HP).
In January of 2006, David launched Stage 1 Ventures, an early stage venture capital firm. Investments include Carbonite (IPO 2011 NASDAQ:CARB), e-Centives (sold to Catalina) , Skyhook Wireless (sold to TruePosition) , Splunk (NASDAQ:SPLK), AdelaVoice, Instream, OwnerIQ, Veloxum, Paydiant, FlashNotes, XPeerient (sold to Net-Net), Delfigo Security, Wing Power Energy, Greater Good, Phantom Alert, TimeTrade, Zapoint, OnePin, Myxer, Cuesol (sold to Catalina Marketing), Xpeerient (sold to NET(net)), Magnify Media, go2 (merged with 80108), FrameMedia (sold to Scala!), Auspice (sold to Arris), WorldWinner (sold to Liberty Media), Banshee Wines, Newburyport Brewing, PureCars, OpenBay, deepDB, Marxent Labs, Autonet Mobile, Carvoyant, Parelastic, Dashbell, Vivox, Promoboxx, Ditto, Mobee, Sitewit, Coherent Path, ConnectTowers, Prime Student Loan, Glanola, Narvii, Nexercise, Donde Esta, and Zink.
As a fourteen-year member of Common Angels, David is an active angel investor (30 angel investments) and a strong supporter of entrepreneurs across the country. David is a mentor at the Harvard Innovation Lab.
In June of 2010, David launched S1 Capital Partners, a later stage secondary/growth equity investment vehicle with Rod Randall. S1 Capital made its first investment into YMAX, Corp, a leading CLEC/VOIP provider in North America and creators of the MagicJack-branded consumer service offering. YMAX went public (NASDAQ:CALL) later in 2010 by purchasing VocalTec, a leading softswitch provider.
David holds an MBA from the Harvard Business School with second year honors and BS in Computer Science from Drexel University where he graduated first in his science class.
David’s investment areas of focus are: mobile applications and systems, consumer and business cloud-based applications, the Internet of Things, commercial drones, alternative energy, content and gaming, IPTV, virtualization, e-commerce, location based services, security, the connected car, big data, and data communications equipment.
Jonathan Gordon, Managing Director | Waltham
Jonathan Gordon has been a successful executive, entrepreneur and investor for over 30 years. He has been at the forefront of many historic market and technology changes in the high tech global economy.
Mr. Gordon is the founder of Ametron Technologies, Inc., a consulting and licensing firm that helps entrepreneurs and technologists with business development and monetizing their Intellectual Property and inventions. Recent clients have included Picassa/Lifescape (sold to Google), a photo management tool; Corestreet, a provider of security software; Liquid Machines,a provider of enterprise rights management technology and solutions and Bitzmart/ Stealth Media Labs, a technology used to embed information into digital audio and video streams with playback through Windows Media Player 9 Series.
Before Ametron, Mr. Gordon was CEO of mGen, Inc., an e-learning enterprise software company, which was focused on 1st Responder market opportunities within DOD and other government agencies, such as the Navy/Marine Intranet, US Dept. of Agriculture and the US Army.
Prior to that, he was CEO and founder of EndPoints, Inc.(sold to Flextronics and Archi-tech, Taiwan), a fabless semiconductor company, whose imaging chips powered high volume, low cost consumer digital cameras. Preceding EndPoints, Mr. Gordon was President of DiagSoft (sold to Sykes Enterprises), a PC hardware diagnostic and manufacturing test company.
Subsequent to EndPoints, Mr. Gordon was the founder of Phoenix Publishing (sold to Softbank). Mr. Gordon was also President of Paterson Labs, which he sold to Phoenix Technologies Inc. for Paterson’s founder, Tim Paterson (the author of the MS-DOS operating system).
Mr. Gordon has built international sales and marketing organizations for several notable companies like Phoenix Technologies, who he assisted in their IPO as their first VP of Sales. Additionally, he was VP of Sales of Graphic Software Systems, an early PC software pioneer who had graphic software on the original IBM XT and AT.
Jonathan’s early sales and marketing career included Physical Data Inc. (sold to Honeywell), a start up instrumentation company, who made digital waveform recorders for use in fusion reactor and munitions testing. He also was a sales engineer with Tektronix and helped introduce the first low cost graphic terminals for mini and mainframe computing.
Mr. Gordon attended the University of Wisconsin and Penn Morton College.
Rod Randall, Special Strategic Advisor | Waltham
Mr. Randall has spent over 24 years in the networking industry as an entrepreneur, senior executive and venture capitalist. Prior to forming Vesbridge Partners, Mr. Randall was a General Partner with St. Paul Venture Capital (SPVC) since 2000, where he led the mobile investment practice.
Some of Mr. Randall’s representative investments include Dynamicsoft (acquired by Cisco), Bitfone (acquired by Hewlett Packard), FusionOne and Visage Mobile. Before becoming a venture capitalist, Mr. Randall had been Chief Marketing Officer at Lucent’s Service Provider Group, which he joined in 1999 upon the acquisition of Ascend by Lucent for $24 billion. At the time of acquisition, Mr. Randall was the Vice President of Worldwide Marketing helping re-position Ascend. Prior to Ascend, Mr. Randall held the position as Vice President of Worldwide Marketing and General Manager at Stratus Computer and Vice President of Strategic Market Development at Madge Networks.
Prior to Madge Networks, Mr. Randall co-founded Teleos Communications in 1987. During the nearly 10 years Mr. Randall spent building Teleos, he held several roles including CTO, Vice President of Business Development, and Vice President of WAN Access Technology. Mr. Randall helped guide Teleos until its acquisition in 1996 by Madge Networks. Mr. Randall began his career in technology at AT&T Bell Labs in 1981 as a Member of Technical Staff and later as MTS Supervisor. Mr. Randall holds several US Patents.
Scott Murray, Operating Partner
Mr. Murray has extensive experience leading a number of technology, software and business service companies and serving on Boards of Directors over the past twenty years covering both public and private companies. He is one of the industry leaders in the business service industry using integrated technology platforms, including social media applications and enterprise software solutions. His experience includes cyber security, telecommunications and integrated network solutions. He is a dual Canadian and United States citizen, is considered a Financial Expert under the rules of the SEC and lives in Wellesley, MA.
- President and Founder, Trillium Capital LLC – 2007 to Present – individual investment and advisory services company
- Board member of Canadian Entrepreneurs in New England (CENE) in conjunction with the Canadian Consulate in Boston
- Senior Advisor to a large Private Equity (PE) owned Brazilian technology services company
- Advisory services to various PE and Venture investment firms
Chairman of Board and CEO, Stream Global Services (NYSE:SGS)– 2008 to 2010
- Global technology and marketing services business with 30,000+ employees
- Revenues of $800mm and EBITDA of $80mm serving large technology clients
- Led sales growth of $325mm of new book of business
- Built mgmt team to effect operational excellence resulting in 600 bpt increase in margins
Chairman of Board and CEO, Global BPO Services (NYSE:GBPO) – 2007 to 2008
- Founded GBPO – a blank check company (“SPAC”) and raised $7.5mm seed money
- Completed IPO in October 2007 raising $250mm
- GBPO acquired Stream Global Services in 2008 for $200mm in cash
CEO and Board Member, 3Com Corporation and Chairman of Board of H3C in China -‐ 2006
- Global networking equipment, IP security and VoIP business with over $1.4bb in revenues
- H3C was a 51% owned jointed venture with Huawei Technologies in Hangzhou, China with over 7,000 PRC located employees and $700mm in annual revenues
- Led integration of TippingPoint – a cyber security company
- Led strategic redefinition of company to focus on China and streamline cost model
- Company was sold to Hewlett Packard in 2010 for $2.7bb
Non-‐Executive Chairman of the Board, Protocol Communications – 2006 to 2008 (PE owned)
- Marketing & Campaign Services and technology application company with revenues of $100mm and EBITDA of $15mm
- Coached first time CEO and advised financial investors/board members on strategy, sales & marketing and operational best practices
- Lead independent director for the sale of the company to one of the existing investors
CEO and Board Member, Modus Media International – 2002 to 2004 (PE owned)
- Global supply chain and technology services business
- Grew revenues to $600mm and EBITDA to $40mm (from negative EBITDA in 2001)
- Large presence in Europe and China serving large technology clients – high CSAT
- Launched new technology enables services, redefined strategic direction and grew top line
- Restructured complicated debt structure and re-‐built management team (as necessary)
- Company acquired by cmgi in 2004 for 6 times MoM return to shareholders
President, Stream International, Inc. – 2000 to 2002 (PE owned)
- Global technology services company with $400mm in revenues (30% annual growth)
- Expanded EBITDA margins by 600bpt to $45mm over term (50% annual growth)
- Implemented global corporate governance program
- Led global best operational practices, opened new locations in Canada and India
- Member of Board of Directors of TracMail JV in India and Fujitsu JV in Japan
- Company acquired by Solectron in 2002 for 6 times MoM return to shareholders
Chief Financial Officer, The Learning Company (NYSE:TLC) – 1994 to 1999
- Leader in educational, reference and productivity consumer software sold in US retail, OEM, international and direct marketing channels
- Revenues of over $800mm ($100mm in 1994) and operating income of $125mm in 1999
- Responsible for corporate development, finance, taxation, human resources, operations. information technology and investor relations
- Led completion and integration of over 30 acquisitions and over $1bb of capital raise
- Company acquired by Mattel in 1999 for $4.2 billion
Senior Manager, Arthur Andersen & Co, Toronto – 1985 to 1994
- Business advisory and audit practice
- M&A consulting services
Education and Professional Affiliations:
- Chartered Professional Accountant (CPA) – November 2012
- Member of Canadian Institute of Charter Accountants (CA) – December 1987
- Member of Ontario Institute of Chartered Accountants (CA) – December 1987
- Ryerson University, School of Accountancy – Ontario Institute of Accountants – July 1987
- University of Western Ontario – Administration and Finance Degree – 1985
Joesph Pianelli, Operating Partner | Dallas
Mr. Pianelli is the Founder and Managing Partner at Pegasus Consulting Group, Inc., a business strategy firm that specializes in commercialization, business development, channel development and M&A for technology, media and wireless telecom companies. He has over 25 years of experience in finance, corporate development, business formation, as well as senior level operating roles in the following sectors: wireless, publishing, digital media, Internet and consumer retail. He has worked on a global basis with C-level executives of large and small enterprises developing strategic growth plans and launching new business ventures.
Prior to Pegasus, Mr. Pianelli was the Vice President of Wireless Innovation at Radio Shack Corp. where he was responsible for the development of new business ventures and product innovation. At Radio Shack he also held Director and Sr. Director Strategic Development roles that focused on creating a technology innovation sourcing strategy in collaboration with venture capital firms and Corporate R&D groups.
His prior experiences include: Special Limited Partner of TechStar, (tech-transfer and the commercialization of University research and innovations), Senior Vice President Curtco-Freedom Group, (B to B tech publisher/digital media), Co-Founder and Vice President Business Development, Communication Expo. During this time period, Mr. Pianelli led business formation, strategic growth efforts, launched several successful initiatives to raise capital funding and implemented successful exit strategies for shareholders.
Mr. Pianelli spent the first 10 years of his career as a financial analyst for Scandinavian Airline Systems (SAS) and Senior Broker and Director for public and private investment firms (Moseley/Gruntal, MHF investments ) with a focus on technology, media and wireless telecom industry investments. During his tenure at the investment firms he identified and led investments into companies at the forefront of the global build out of the cellular industry and the transition from analog to digital technologies which created a $1 trillion market today.
Mr. Pianelli holds a BA in Economics from the City University of New York.
Kevin A. Werner, Operating Partner | San Diego
Mr. Werner has 25+ years of experience in evaluating business objectives and structuring, negotiating and closing complex strategic transactions. From 2007 – 2011, Kevin served as SVP of Corporate Development & Strategy for VeriSign, Inc., during which time he sold 15+ non-strategic business units and generated more than $2B cash proceeds.
From 2004 – 2007, Kevin served as SVP, Strategic Development Activities at Science Applications International Corporation (SAIC) where he was responsible for acquisitions, strategic investments, divestitures, and joint ventures.
From 2000-2004, Kevin was President and Managing Director of SAIC Venture Capital Corporation, where he managed a $1.3 billion corporate VC fund with a portfolio of over 60 investments in early stage technology companies
Kevin joined SAIC as Associate General Counsel in 1995. Prior to SAIC, Kevin spent 10 years at the San Diego law firm Seltzer Caplan McMahon & Vitek, becoming a partner in 1990.
Kevin received a J.D. from Harvard Law School in 1985 and a B.A in Political Science from The George Washington University in 1982.
Gary Shih, Operating Partner | Taiwan
Mr. Shih is a veteran with 30 years in the information technology industry, including six years in engineering and twenty-four years in sales marketing as well as extensive entrepreneurial operating roles.
As an entrepreneur, Gary co-founded and manages Regulus Technologies, a privately held leading technology representation and component distribution company. During twenty-one years of operations, Regulus has launched several vendors to the top of Taiwan & Great China ODM market, including SystemSoft a leading Power-Managment BIOS ( Basic Input / Output System ) for laptop computers, Vadem a PCMCIA controller, NeoMagic an embedded memory notebook PC graphic controller, ENE a notebook PC KBC system controller, Intersil Techwell an automotive display controller, and TrueSense Imaging ( ex-Kodak ISS ) a CCD image sensors for medical/industrial/surveillance/ITS.
Gary has built operations to coordinate business among vendors, ODMs and branded customers. Gary has built long-term relationship through add-on services that tie Regulus closely with ODMs in Taiwan and Great China areas.
Earlier in his career, Gary worked in large organization like Philips, where he started in marketing semiconductor component products. Gary also worked in engineering functions in Computer Department of Hoffmann-La-Roche in Nutley New Jersey, on Bio-medical data acquisition & analysis system, and Pan-Asia Computer Corp on personal computers.
Gary holds an MSEE from the New Jersey Institute of Technology.
Bill O’Connell, Operating Partner | Taiwan
Mr. O’Connell is an information technology veteran with over 30 years of experience in the sale and licensing of many critical components in the IT market. Bill’s primary focus over the last 20 years has been licensing key technologies and intellectual property to key Taiwan and China based OEMs/ODMs. Bill has extensive knowledge of the Far East and currently resides in Taiwan.
Bill started his career in 1980 selling Datapoint hardware to Fortune 100 companies in the USA. He later worked as a licensing executive at Digital Research, the creators of CPM. He continued his career at Graphic Software Systems prior to becoming a key licensing director at Phoenix Technologies, the creator of the IBM PC compatible BIOS. After 4 years at Phoenix, Bill and 5 other entrepreneurs founded SystemSoft Corporation, a direct competitor to Phoenix Technologies. As Vice President of Sales at SystemSoft in 1989, Bill recognized the importance of the Taiwan manufacturing base and focused on this market for over 50% of SystemSoft’s overall revenue. In 1994, Bill played a key role in SystemSoft going public on the NASDAQ.
For the last 7 years Bill has headed his own company, O’Connell Consulting, with a singular focus on licensing key technologies and intellectual property to the Taiwan/China base. His over 20+ years of experience in the region enables Bill to deal at the highest level of most of the key corporations in the APAC region.
Bill graduated with a Bachelor of Science from Boston College.
David H Buckley, Operating Partner
Mr. Buckley is an experienced operator and investor with a strong knowledge of the graphic arts industry, niche equipment manufacturing and distress / turnaround management. An entrepreneur with a strong balance sheet driven style, he is also a savvy private equity investor and well connected in both Europe and the US.
Educated in the UK, Ireland and the USA, David has had over 25 years of experience around the world in both the private and public sectors of industry.
David began his career in Dublin, Ireland with the Jefferson Smurfit Group plc – the world’s largest paper based packaging group. During his 12 year tenure, he worked in all segments of the industry ranging from corrugated containers and folding cartons to point of sale display. Beginning as a PA to a senior company executive, he worked his way up to become General Manager – Smurfit Display. During this time, David was also a co-founder and director of UK based; Qualtech Holdings Ltd, a privately held graphic arts company which supplied the industry with flexographic printing plates and specialty products. Qualtech was sold to USA based Pamarco Technologies, Inc. in 1995.
In 1997, David moved to the US to join Pamarco where he became VP of Operations of Georgia based Diamond Holding Corporation – the lithographic offset arm of the group. Diamond manufactured rubber elastomers and printing rollers at seven strategically located plants across the country. In addition, it owned the rights to a two color printing press. While at Diamond, David became particularly interested in niche equipment manufacturing following his successful development of a press division.
In 2000, David established Riverton Investments Ltd., and acquired Massachusetts based Data Technology, Inc. along with a small group of investors, which included the exclusive NYC boutique finance house; Allen & Company. Data Technology was an antiquated manufacturer of CAD/CAM cutting equipment for the packaging industry. Over the next three years, David aggressively reorganized the company; streamlining the overhead structure and re-engineering a complete new range of products – pioneering a digital cutting line for short run production. In addition, he also established several international strategic alliances to complete the product offering and rebrand the company. In 2007, David sold Data Technology to Connecticut based Gerber Scientific, Inc. (NYSE: GRB) after which he spent the next two years integrating his company within Gerber to become Gerber Innovations – its packaging division.
At the end of 2008, David left Gerber to concentrate his attention on advisory work – focusing on distress / turnaround management, subsidiary development, and angel investment. His clients include; Applied Silicate Technologies Ltd., Mosstype Corporation and Eagle Solutions. In addition, David is an active investor and Senior Advisor to several other companies such as Bolwyn Corporation (The Port Tavern), Phider Corporation (Grumpy Doyle’s), Gernne Corporation (Waterside Tap & Grille), Prince Place LLC, the Newburyport Brewing Company and Seat Pets LLC.
David is a graduate of Babson College, Wellesley, MA where he holds a degree in Management majoring in Entrepreneurial Studies. He is an active member of his community in Newburyport, MA and sits on the board of the River Valley Charter School Foundation and the Old South Church.
David is also a founding member of the Irish Chamber of Commerce USA (ICCUSA) and a member of the K Club. He is married with three children.
Ralph A. Rodriguez, Research Fellow | Waltham
Ralph Rodriguez is CEO and Founder of Delfigo Security and brings over 20 years of experience spanning management, IT, and entrepreneurship in a variety of roles. Previously, Rodriguez was the Senior VP and Research Director of the Technology Practice at Aberdeen Group (NYSE:HHS) a Boston based technology research firm.
Prior to his role at Aberdeen, Rodriguez was Chief Technology Officer of Brooks Automation’s Enterprise Software Division (NASDAQ:BRKS), which was acquired by Applied Materials in 2007. Previous positions include EVP and CIO of Excelon Corporation (NASDAQ:EXLN), a market leader in XML based business process management, and VP and CIO of C-bridge Internet Solutions (NASDAQ:CBIS), a MIT-based startup focused on service oriented architecture and business process management. C-bridge merged with Excelon in September 2001.
As an entrepreneur, Rodriguez has started several companies including in 2003, Invenio and New Technologies and Associates in 1993. Prior roles include Principal Strategy Consultant and Director of IT for Treacy & Company (a management-consulting firm, led by MIT Sloan’s Dr. Michael E. Treacy, co-author of the best selling, The Discipline of Market Leaders). Rodriguez was also a principle in Treacy Ventures, an early stage venture fund, leading technical due diligence as part of the investment portfolio.
Rodriguez has co-authored and contributed as a practitioner to two books on security within technology environments. Windows NT Security – Step by Step, published in 1999, it was written as a consensus document by and for security professionals world- wide who were responsible for managing Windows NT Security in their organizations and Computer Security Incident Handling – Step by Step, published in 1998, it focused on security break-ins and the roles individuals have to play to create an action plan for dealing with the intrusions, cyber-theft, and other security-related events. Both were published by the SANS Institute (www.sans.org). >From 2001-2007 he contributed to two books; Using Technology for Law Firm Practice Management and Hanging Your Shingle, both published by Massachusetts Continuing Legal Education, Inc. in Boston where he served on the faculty, focused on legal technology and electronic practice management. His MIT research paper titled “An investigation relating a sub-Field of artificial intelligence (AI) with event driven security architecture and ideas from The Emotion Machine” led to his founding Delfigo in July 2008 and filing a utility patent with the US PTO in August 2008 (US Serial No. 12/224,057).
Rodriguez is currently a Fellow at Harvard-MIT Division of Health Sciences and Technology (HST) and Massachusetts Institute of Technology (MIT). Rodriguez has worked on security and advanced biometrics based on artificial intelligence (AI) at the MIT Media Lab. He is a graduate of the management program GPMD-MBA at IESE Business School, University of Navarra, Barcelona, Spain. Rodriguez also completed several programs on technology management and research at MIT’s Sloan School of Management and The Center for Information Systems Research (CISR). He also holds a BS in Computer Science and Technology from the US Army Institute (SOCAD) and is an honors graduate of several technical, operational, and communications schools in the United States Army, where he was a member of the XVIII Airborne Corps. In 1987 Rodriguez was selected as the US Army’s elite 10th Mountain Light Fighter Soldier of the Year and was awarded the Army Commendation Medal for his achievement. He is a veteran of the Persian Gulf War.
As an inventor Rodriguez has United States patents Serial No. 12/224,057, 10/460085 and 61/490924. Rodriguez sits on the Board of Directors at the Academy of Applied Science, New Technologies, Inc., and Veramark Technologies, Inc. (OTC:VERA) and was inducted in 2005 as a Member National (MN) in the Explorer’s Club in New York City.
Early stage venture capital is hard work – It takes more than just a group of managing partners to make a firm successful and to give it a global reach. The Managing Partners at Stage 1 Ventures have tapped their vast database of contacts to establish an active Advisory Board that provides leverage in many areas, including deal flow, due diligence, business development, industry trends, sales & marketing, international distribution, later stage fund raising, recruiting, banking, corporate operations & governance, intellectual property, research and development, education and legal.
Stage 1 Ventures is honored to have the following industry leaders / luminaries as Advisory Board members.