Novak Biddle Ventures and QED Investors Invest in WealthEngine and Take Best Early Stage Award

Based in Bethesda, Maryland, WealthEngine announced on March 14, 2011, that after being together with its investment partners, Novak Biddle Ventures and QED Investors, the company has taken together with its two investors the 2011 Venture Capital Awards of the Greater Washington Area. The award is delegated to be the top honors for the Best Early Stage Award for the Year.

WealthEngine is a company which provides financial services for hospitals and medical institutions. The company leads the market in wealth identification and information-based fundraising solutions. The company’s solutions are not only limited to the medical industry, however. WealthEngine also serves clients who are also in higher education, financial services, and leisure industries. Currently, the company boasts of over 2000 clients and provides them with products that can provide comprehensive research for both individuals and organizations.

When looking at WealthEngine’s website, one discovers that the company has already been around for 19 years and has been successful in providing the funding its clients needed. The company has 35 databases which it researches to search for the best sources of wealth for its individual clients. Some of the data that WealthEngine collects include regulatory data, voluntary data, statistically modeled data, and UK data.

These different data pools together can cover a wide spectrum of funding that individual clients can raise with WealthEngine.

Regulatory data is the type of data that is collected by government entities. This data can either be collected by local, state, or federal government agencies. This data is required by any individuals, organizations, and companies are to report to government agencies for tax and other purposes. Some of the data collected in regulatory data include property liens, real estate records, and more.

Voluntary data, on the other hand, is data that is historically collected to see what kinds of trends are being formed. Most of the voluntary data is primarily from biographical or philanthropical sources. The data is mainly found in annual reports, charitable donations, and other such sources.

Statistical modeled data is data that is primarily based on statistics. This data can show what kinds of trends are forming by the number of people who are either buying or doing a particular thing and this information is primarily gleaned from behavior of society and what wealth indications there are in that society.

The award that both WealthEngine and its investors have been awarded is determined by the size of the venture capital firms and companies involved in the investment transaction and on the significance of the firm along with the people involved.

According to the CEO of WealthEngine, Tony Glowacki, the team at WealthEngine is very proud of winning this high award. Mr. Glowacki further added that innovation is part of the company’s DNA and has fueled over 40% of its growth in the past year. Furthermore, the company has succeeded with further venture funding and a sound business model, which adds up to the company’s success. The venture funding has supported the company’s product development, technical infrastructure, and to expand in order to help its clients gain the necessary data they need to raise funds.

Novak Biddle Ventures is a private equity firm which provides equity and venture capital funding to early stage companies in the IT industry who are located in the Mid-Atlantic region of the United States. The firm was founded in 1997 and currently has over $850 million of funds under its management. Some other companies in Novak Biddle’s portfolio include Capital Schools, Digital Signal Corporation, FiberZone Networks, LogicLibrary, Luna Technologies, and others.