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“Crazy idea” leads Florida Poly students to take on the technology services market

Jared Nurse, Orel Yoshia, Djuan Gayle, Jaimie Davis, Logan Carlson, and Nicolee Brown are part of Madd Technologies LLC, a technology start-up run by students at Florida Polytechnic University.

“We learn by doing and one of the hallmarks of studying at Florida Poly is being able to get your hands on stuff,” Davis said. “But being in this company since my freshman year has really given me a lot more than I could ever expect from a college education.”

LAKELAND, Fla. (PRWEB) January 16, 2020
A group of Florida Polytechnic University students has found work with a great company that offers hands-on experience, flexible hours, fun co-workers, and the kind of boss most people only dream of – themselves.
Madd Technologies LLC, which stemmed from an idea friends had late one night, is a technology start-up helmed by Florida Poly students and focused on the consumer electronics and computer software markets. It provides services such as product design, website design, computer-aided design, app development, and more.
“We had this crazy idea to start a company,” said CEO Djuan Gayle, a senior majoring in computer engineering. “We’re going to a technology school and we want to change the world, so why not be able to put all of that under a company and just make it happen.”
That crazy idea and the company’s willingness to take on unusual projects are reflected in its name.
Recent Madd Technologies projects have included the design of a university app, and the design of a smart refractometer to measure grapes for peak ripeness for a client in the wine industry.
In addition to providing technology services for local businesses, Madd Technologies is working on developing its own products, such as an algorithm that uses artificial intelligence to recommend clothing to customers.
“When you’re an engineer, everyone in the industry is looking for experience and as a student it can be difficult to gain that experience,” said Jaimie Davis, a junior electrical engineering major and the company’s technology officer. “Being a part of this company and working on project management skills and overall communication really helps all of us become better engineers.”
The eight-person company formed in 2018 and found guidance from Justin Heacock, Florida Poly’s entrepreneurship coordinator.
“It’s been a learning curve because it’s not like we’re going to business school, and Justin has been really good at helping with that,” Gayle said. “We go to him and he just finds the time.”
Gayle said the company is hoping to soon grow to about 15 team members and move into an office space in Lakeland and hopes to eventually be located near the University, providing both jobs and internships to other Florida Poly students.
“For the whole four years of college, we’ve been entrepreneurial-minded,” said Logan Carlson, a senior majoring in computer engineering and the company’s research and development officer.
Madd Technologies’ leadership said they hope other students will see their success and be motivated to follow their own “crazy ideas.”
“We learn by doing and one of the hallmarks of studying at Florida Poly is being able to get your hands on stuff,” Davis said. “But being in this company since my freshman year has really given me a lot more than I could ever expect from a college education.”
Students who would like to join Madd Technologies and businesses interested in the company’s services can email maddtechnologies1@outlook.com.

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Edison Partners Leads $5 Million Growth Investment in Ringmaster Technologies

We as a nation focus, and rightfully so, on improving clinical care and the cost of providing care. Much of the wasted cost in healthcare, however, actually ties to the administrative complexity that hits the medical costs line on a company’s P&L.

BORDENTOWN, N.J. (PRWEB) January 14, 2020
Edison Partners, the growth equity firm, today announced leading a $5 million investment in Ringmaster Technologies, a market leader in workflow optimization for the healthcare stop-loss industry. The investment is Edison’s second with Todd Roberti, founder and CEO of Ringmaster, and represents the fifth healthcare technology sector investment for Edison Partners in six months. The funds will help develop Ringmaster’s go-to-market engine for its cloud solutions that modernize the quoting and administration processes for brokers, agencies, third-party administrators, MGUs and carriers of stop-loss policies.
Cleveland-based Ringmaster solves for the massive inefficiencies in the stop-loss insurance industry resulting from outdated systems used to manage the complex quoting and administration processes. The company offers the first fully automated optimization solution of customizable workflows, quoting and smart contracts, and advanced data and analytics to simplify the administration of stop-loss plans, a critical component of self-funded health plans now utilized by 60% of U.S. employers with premiums doubling to over $19 billion in the last five years. Ringmaster works with leading adjudication platforms and is building integration feeds to eliminate a substantial amount of human intervention in the existing ecosystem.
“We’re thrilled to again partner with Todd Roberti, an accomplished leader who has demonstrated the intensity and motivation required to win. We know from the experience of over 230 investments the importance of an accomplished CEO in driving the success of a company looking to scale. With Ringmaster, Todd has again identified a large and untapped market opportunity and is very quickly creating a leadership position and product market fit with differentiated technology,” said Gregg Michaelson, Partner, Edison Partners, who led the investment and joined the Ringmaster board.
Roberti is one of the most successful CEOs ever to team up with Edison Partners. He was the founder of Premier Healthcare Exchange (PHX), a prior Edison investment, and Pay-Plus Solutions. The companies were acquired by Parthenon Partners to form Zelis Healthcare. Additionally, Edison invested in Zelis, which merged with RedCard in September 2019 to create the industry’s leading healthcare payments optimization platform at a valuation of nearly $6 billion, according to Bloomberg. Combined, the companies returned over 40X to Edison Partners—the largest return in the firm’s 33-year history.
“We as a nation focus, and rightfully so, on improving clinical care and the cost of providing care. Much of the wasted cost in healthcare, however, actually ties to the administrative complexity that hits the medical costs line on a company’s P&L. Operating expenses must ultimately be addressed simultaneously to clinical care: They are inextricably linked and impact care much more than we care to admit,” said Todd Roberti, Ringmaster Technologies founder and CEO.
Roberti added: “We saw an opportunity to explore new technology and create automated solutions to drive greater value and growth across the entire healthcare industry’s business chain. I returned to Edison Partners based on our previous success together and, more specifically, the specialized expertise they provide at the board level and with their operating acumen. I’m excited to partner with the firm and again become a critical component of the complex healthcare ecosystem.”
Healthcare IT has been the most active investment area for Edison Partners in the last six months, with investments across non-clinical cost optimization, patient engagement, and data and analytics, among key verticals. New 2019 investments included Capital Rx, Health Recovery Solutions (HRS), PurpleLab, and VirtualHealth. In addition to Zelis, past noteworthy Healthcare IT exits for the firm also include Dendrite, Cadient, Health Market Science, and Verilogue.
In all, Edison Partners has financed and guided more than 230 private companies since 1986. To learn more visit http://www.edisonpartners.com and Michaelson’s bio.
About Ringmaster TechnologiesRingmaster is a cloud-based healthcare solutions provider created to simplify and enhance administrative processes by utilizing cutting edge technologies. Combining over a decade of expertise in both the healthcare and technology industries, RMT offers the first Fully Automated Workflow Optimization Solution that will drastically slash processing time and complexity while minimizing the turnaround time for stop-loss quoting, contracting and policy administration. To learn more, visit http://www.ringmastertech.com.
About Edison PartnersFor more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with $5 to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregated market value exceeding $10 billion. Edison Partners is based in Princeton, NJ and manages more than $1.4 billion in assets throughout the eastern United States.

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