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PRESS ARCHIVE
NextStage Advisors
Repositions Soniq Systems For $2 Million in Funding During
'Soft' Investment Climate
Collegeville, PA – September
25, 2002 – Despite
a 'soft' investment climate, Soniq Systems has received $2
million in first round financing from the Mid Atlantic
Venture Fund. The funding is impressive given that the
company was initially considered too 'nichey' for many
investors.
"We brought T. Williams Consulting, Inc. (TWC) in to
reposition Soniq because we weren't getting anywhere with
investors," said Carl Bader, President/CEO and
co-founder of Soniq Systems. "They were shying away
because our product was too specific to the music
industry."
TWC's Business Launch services help early stage clients
prepare for their first fundraising effort by making rapid,
focused improvements to their businesses. The goal is to
position clients as 'Investments of Choice' and to increase
their odds of receiving funding in the shortest time
possible. In this instance, the TWC team worked with Soniq
to identify new market opportunities, and then modify their
business model, funding strategy, go-to-market strategy, and
financials.
"Soniq's initial positioning was too specific to a
small, niche market to get investors excited," said Dan
McKinney, Managing Director, Business Launch Services at TWC.
"What we uncovered working with the Soniq team is that
there is a much broader market opportunity than was
originally contemplated. Soniq's underlying technology is
basically the first and only Local Area Network (LAN)
optimized for the audio electronics industry. In essence,
they're doing for the audio/music industry what Novell did
for the computer industry."
With the new positioning came renewed interest, and
ultimately $2 million in first-round funding from an
investor that TWC introduced to Soniq.
"TWC has taken us to a place where we could not have
gone alone," said Bader. "They were instrumental
in articulating our business model and value proposition,
identifying funding options, providing introductions,
following up with interested funds and presenting Soniq in
the best possible light to potential investors."
Said McKinney, "Entrepreneurs are so close to what
they're doing that they sometimes don't realize how to
position themselves for maximum interest. It's especially
important in this difficult funding environment that
entrepreneurs take advantage of their one chance with
investors by having the right positioning."
About TWC
Founded in 1996, TWC is a world-class
management consulting firm that shapes companies to succeed.
We provide a single point of contact for the outsourcing of
critical needs, including Business Launch Consulting, Human
Capital Solutions, and Strategic Assessments. From start-ups
to Fortune 1000 firms, our track record of helping companies
achieve success is impressive and includes experience in
Biotech, Energy, Financial Services, Information Technology,
Optics, Pharmaceuticals, Telecommunications, and Wireless.
For more information about TWC, please contact Lisa
Sarachman 610-489-2626, ext. 106 or e-mail l.sarachman@twilliams.com.
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