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Please take a moment and make a financial contribution to TheFunded. If we have helped you, help us with resources to further grow the both the site and our entrepreneur training program, The Founder Institute.

Conor T. Mullett

Partner Rating:

Un-rated

Partner Information:

Title:     General Partner

Location:  Red Bank, US East

Blog:      

Firm Rating:

Rated 3.6 / 5.0 by 10

Firm Information:

Company:   Updata Partners

Type:      Medium Private Equity

URL:       Firm Homepage

PERSONAL SPECIALTY: None.

0
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Updata is a Great Partner

Fund: Updata Partners

Posted by cbroderick on 2010-01-07

PUBLIC:

Updata is a great partner. They truly have operational experience and are willing to take the time to understand the businesses where they invest. They are not passive investors and are willing to assist in matters related to governance, operations, and strategy. John Burton has been a great partner and truly became a member of the extended CoreStreet team. John was instrumental in helping identify a growth strategy for the firm and put in a tremendous number of hours that led to the merger of CoreStreet with ActivIdentity. I highly recommend partnering with Updata.

PRIVATE: Members Only

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2
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Great Operating Experience in Carter Griffin

Fund: Updata Partners

Posted by Aaron Houghton on 2009-08-10

PUBLIC:

Updata has been a great financial partner of ours for a few years now. Raising our A round was pretty easy all things considered so I won't act like we were up against a market anything like it is today. We bootstrapped the company to $1M in annual sales before taking a seed round of $500 convertible debt and then 12 months later after it converted we raised an A round. We picked Updata over three other firms that came to the table with term sheets because they brought previous business operators to our deal (and the standard VC number focus as well, but it wasn't their first priority). For over two years now we've worked with Carter (former software company CEO) and Connor (financial/numbers guys) from Updata at quarterly board meetings and about 5-10 additional interactions per year, mostly at our request. They have been a sounding board for some of our executive hires (actually getting on the phone and interviewing our finalists alongside our exec team) and have also taught us a lot about the software-as-a-service model from a business and financial perspective. I know this may be hard to believe but they have never gotten in our way and I've just been blown away to see how different this experience has been than many of the VC nightmares I always hear about. This is my first VC funded company. Maybe we got lucky or maybe this is the sort of experience you can get when you work with a VC firm with a good balance of former entrepreneurs. I probably won't know until I do this again some day with another startup. If you're going to talk to Updata I certainly recommend Carter.

PRIVATE: Members Only (481 Characters)

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Better to Deal with Than Most Others

Fund: Updata Partners

Posted by Anonymous on 2008-06-24

PUBLIC:

Updata passed on us because we are a bit under their $5M revenue floor, but I found these guys to be knwlegeable, straight up and pleasant. I would recommend them, especially Carter, and I beleive the mostly good reviews here are warranted.

And yes, I will go back to them next year if we need growth capital.

PRIVATE: Members Only

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Extremely Knowledgeable, Very Helpful & Dependable

Fund: Updata Partners

Posted by dbritton on 2007-10-11

PUBLIC:

I have interacted with and received insight from both Tim Meyers and John Burton over the years. I can honestly say that every interaction has been well worth my time. Their insight and experience in finance and sales is exceptional. We have not raised outside funding from any VCs at this time but found their advice to be worth more than cash and look forward to talking with them further.

PRIVATE: Members Only (660 Characters)

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Not the Best: John Burton is Arrogant

Fund: Updata Partners

Posted by Anonymous on 2007-10-06

PUBLIC:

We pitched to them after being courted by Carter Griffin. First pitch to Tim Meyers and Carter and while they seemed to have the usual 'vc intelligence challenge' of trying to put us into one of their existing box, they were at least courteous. Also seemed to get it by the end and wanted a follow up meeting with John Burton another partner. But the next meeting...

PRIVATE: Members Only (419 Characters)

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removed

Fund: Updata Partners

Posted by Anonymous on 2009-07-15

PRIVATE: Members Only

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CEO

Fund: Updata Partners

Posted by jnmarshall on 2007-09-25

PUBLIC:

Joined company and experienced terrific value add, immedialey. Dramatic improvement from prior experiences. Just did a finance round, went wonderfully. Great people and insight into our business and have been a great help to advancing the company forward.

Jim Marshall

PRIVATE: Members Only (201 Characters)

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Direct & Helfpul

Fund: Updata Partners

Posted by nattybumpo on 2007-08-30

PUBLIC:

We are an early stage software company, and have made the rounds of a few VC firms to get feedback, explore financing, and start relationships. Updata has been honest, direct, and has not only offered ongoing assistance and help, but has actually followed thru! I've worked with Rich Erickson and Jon Seeber.

PRIVATE: Members Only

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Updata Has Treated US Well

Fund: Updata Partners

Posted by ryanallis on 2007-08-27

PUBLIC:

After an extensive process of speaking to about 40 firms and pitching about 15, iContact chose to work with Updata for our Series A round in June 2007 and closed on about $5 million in funding. We are working with Conor and Carter. I very much appreciate the fact that most of the firm as operating experience, many with experience in the software space. From all impressions so far, Updata is a genuinely excellent firm that works hard to help their portfolio companies succeed. They have provided many introductions and connections that have already proved valuable and shown an authentic interest in helping us. From my vantage, I would recommend working with Updata Partners should you have the opportunity.

PRIVATE: Members Only

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Depends on the Partner

Fund: Updata Partners

Posted by Anon on 2007-08-21

PUBLIC:

John Burton is clearly an exceptionally bright and experienced entrepreneur and investor. He was among the best VCs we pitched. Unfortunately, it can be a bit of a bait and switch where other partners seem to run with their investments post funding.

The terms were generally poor and among the worst terms from VCs pitched.

PRIVATE: Members Only (271 Characters)