Impact Venture Capital Portfolio Company: Pondera Solutions Acquired by Thomson Reuters (TSX / NYSE: TRI)
Thomson Reuters (News - Alert) (TSX/NYSE: TRI) has acquired Pondera Solutions, a leading provider of technology and advanced analytics to combat fraud, waste, and abuse in healthcare and large government programs.
Thomson Reuters (News - Alert) serves government agencies at the federal, state and local levels with solutions and resources to improve efficiencies, diminish risk and reduce fraud. The acquisition of Pondera Solutions will enhance their offerings in this space and will allow Thomson Reuters to further deliver insight through advanced analytics, artificial intelligence, and human expertise.
"We couldn't be more thrilled for the Pondera team. We've been working with Jon Coss and Pondera since the business planning stages and it's been amazing to collaborate with this innovative and visionary team. Pondera is solving a huge and difficult problem, and it's been my pleasure to watch them grow from idea, to millions in revenues, to millions more in investment, to many times that with this successful exit. Thomson Reuters will certainly thrive following this acquisition and we're thrilled with the return on investment this transaction has provided to our firm," said Jack Crawford, founding General Partner at Impact Venture Capital.
"I'm very grateful to Jack Crawford and all of the Impact team for their support throughout Pondera's journey. They were with us pre-revenue in the conception and business planning stages; they provided funding support in our Seies A raise, and they helped us grow with strategy and operational support. In short, Impact's support was critical to our success." said Jon Coss, Pondera Solutions CEO.
"Thomson Reuters and Pondera share a commitment to serve customers with solutions that reduce fraud by individuals targeting government programs," said Steve Rubley, president of the Government business for Thomson Reuters. "Pondera will be a key component to the suite of tools available to government customers that use technology, data, and human analysis to support their mission and benefit their communities."
About Impact Venture Capital
Impact Venture Capital is a seed-stage venture capital fund that invests alongside corporate venture groups and top tier investors in startups focused on artificial intelligence technology. Impact focuses on startups whose technology is applicable across a multitude of industries, including cybersecurity, healthcare, agriculture, big data, and mobility. impactvc.com
About Pondera Solutions
Pondera Solutions leverages advanced analytics, AI, and human intelligence to help government and commercial healthcare programs maintain compliance and detect fraud, waste, and abuse. Their core detection system, FraudCaster, helps their clients detect and prevent hundreds of millions of dollars in improper payments in health plans and government programs. ponderasolutions.com
About Thomson Reuters
Thomson Reuters (TSX / NYSE: TRI) is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service - Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
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