Center for Innovative Technology

Center for Innovative Technology

Center for Innovative Technology

Overview
Date Founded

1984

Headquarters

2214 ROCK HILL ROAD, HERNDON, VA, 20170

Charitable Causes

Science & Technology Research
Philanthropy, Voluntarism, and Grantmaking Foundations

Employees (Worldwide)

11 - 50

Industries

Hospitals & Patient Services
Medical Support Services
Computer Software
Other Business & Consulting Services
IT Consulting & Services
Private Equity & Venture Capital
Investment Services & Portfolio Management

Company Description

CIT helps innovative Virginia-based technology and life sciences start-up companies secure their first seed investment. They focus on the enhancement of research and technology transfer activities of Virginia universities and the new technologies, entrepreneurs and technology companies that make innovation happen. Their operating structure consists of service lines that enable them to respond to new opportunities with governmental and private sector clients. CIT has three four service lines: CIT Entrepreneur, CIT R&D, CIT Broadband and CIT Connect.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Chief Technology Officer

Managing Director of CIT Gap Funds

Director of Consulting Services

Senior Vice President, Policy & Regional Initiatives

Vice President, Government & Public Affairs

Vice President, Research Investment

Chief Financial Officer

General Partner

General Partner, Mach37 Cybersecurity Accelerator

Board of Directors

Co-Founder at Paladin Capital Group

Partner, Washington DC at New Enterprise Associates

Former Corp Vice President, MSN at Microsoft Corporation

President at Virginia Polytechnic Institute and State University

Former President-Americas Outsourcing at Computer Sciences Corp.

Founder at Unissant, Inc.

Vice Chair, Board of Directors at Center for Innovative Technology

Former Chairman & Chief Executive Officer at NTELX, Inc.

Senior Vice President & General Manager at Enterprise Services LLC

Member, Board of Directors at Center for Innovative Technology

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Recent Transactions
Details Hidden

Jazz Pharmaceuticals Plc purchases Cavion, Inc. from Lilly Ventures Management Co. LLC, Novartis Venture Fund, Center for Innovative Technology, Enso Ventures Ltd.

Details Hidden

Marlin Management Co. LLC, Logi Analytics, Inc. purchase Zoomdata, Inc. from Accel Partners LLC, New Enterprise Associates, Outcome Capital LLC (Private Equity), Goldman Sachs Capital Partners, Center for Innovative Technology, Comcast Ventures LLC, Razor's Edge Ventures LLC, In-Q-Tel, Stonehaven Capital LLC, Columbus Nova Technology Partners, Signatures Capital LLC

Details Hidden

Imperva, Inc., Thoma Bravo LLC purchase Distil Networks, Inc. from Right Side Capital Management LLC, SVB Capital, Bessemer Venture Partners, NCT Ventures LLC, IDEA Fund Partners LLC, Center for Innovative Technology, Foundry Group LLC, Triangle Peak Partners, Correlation Management LLC, P & L Advisors LLC, TechStars Central LLC, ff Venture Capital, MI Ventures LLC, Militello Capital (Private Equity), K4 Ventures LLC, Cloud Power Capital, Dingman Center Angels, Techstars Ventures

Transaction Advisors
Escrow Agent

Advised onAgenus Inc. purchases PhosImmune, Inc. from Center for Innovative Technology

Escrow Agent

Advised onInspyr Therapeutics, Inc. purchases Lewis & Clark Pharmaceuticals, Inc. from Center for Innovative Technology

Advisors & Consultants
Consultant

The Potomac Institute for Policy Studies provides policy research and development services. The firm identifies and shepherds discussion on key science, technology, and national security issues facing the society, providing in particular, an academic forum for the study of related policy issues. The company was founded in 1994 and is headquartered in Arlington, VA.

Legal Advisor

Reed Smith Ltd. is engaged in the provision of legal services in commercial litigation, disputes, cross-border transactions, and regulatory matters. The firm's practice areas include bankruptcy and commercial restructuring, corporate and securities, regulatory enforcement, contract investigation, insurance, public policy, investment management, tax exemption, and wealth planning. It offers services to the energy and natural resources, financial, health, medical, and entertainment industries. The company is headquartered in London, the United Kingdom.

Consultant

Holland & Knight LLP provides legal services. The company offers four practice sections: litigation, government, business and real estate. It has locations in Atlanta, Bethesda, Boston, Fort Lauderdale, Jacksonville, Los Angeles and Tallahassee. The company was founded in 1968 and is located in Miami, FL.

Clients

Virginia Health Quality Center provides healthcare consultant solutions. Its services include EHR optimization, medical record review, practice transformation, Rx cost management and hospital value-based payment. The company was founded in 1984 and is headquartered in Richmond, VA.

Member, Cloud Forensics Working Group at National Institute of Standards and Technology

Key Stats and Financials As of 2016
Market Capitalization
Total Enterprise Value
Earnings Per Share
Revenue
$17.5M
Investments
Details Hidden

Steel Mountain Systems Corp. provides security and network management services. It offers Secaura for the home and software and firmware solutions for local area network and cloud infrastructure. The company was founded by Will Butler and Thomas Maarseveen and is headquartered in Herndon, VA.

Details Hidden

Shift One, Inc. develops an employee engagement technology for the retail, hospitality and restaurant industries. It empowers frontline workers to accelerate performance with communication, recognition and gamification. The company was founded by Kam Desai and Ashish Gambhir and is headquartered in Arlington, VA.

Details Hidden

Tenant Turner, Inc. offers software as a service based leasing platform for residential property managers. It specializes in tenant acquisition, lead management and pre-qualification, leasing call center, leasing automation, and agent. The company was founded by Brandon Anderson, James Barrett and Chris Stewart is headquartered in Richmond, VA.

Suppliers
Virginia Polytechnic Institute and State University Schools & Student Services | Blacksburg, VA

Virginia Tech takes a hands-on, engaging approach to education, preparing scholars to be leaders in their fields and communities. As the commonwealth’s most comprehensive university and its leading research institution, Virginia Tech offers 215 undergraduate and graduate degree programs to more than 30,000 students and manages a research portfolio of more than $450 million. The university fulfills its land-grant mission of transforming knowledge to practice through technological leadership and by fueling economic growth and job creation locally, regionally, and across Virginia.

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