HQ: Dedham, MA
Management: CEO Jeff Dickerson was recently promoted from President. He previously ran sales at MCK Communications, during which time the company held an IPO. Prior CEO Deepak Verma left to spend more time with his family. Hmmmm.
Investors: In June 2004, the company raised $8M round of financing led by North Hill Ventures, with existing investors Apex Venture Partners, Internet Capital Group (NASDAQ: ICGE) and Sterling Venture Partners.
Business Model: Web-based credit and collections applications suite. Develops credit scores for customers and sends alerts to credit managers if an account looks fishy. Software also allows large companies to consolidate credit information about customers. If a cusotmer is a deadbeat on payments to your Dallas office, the Sacramento office can figure that out before opening a new account.
Competitors: NextCard, American Management Systems, Fair Isaac, I-many, Dun & Bradstreet, Moody’s, Experian, and Talgentra.
Dirt: Lots of big, grey-haired competitiors in this space, but we suspect that also opens up a good opportunity for eCredit. While eCredit can install its software for clients, the company has managed to move to an ASP model – it claims that 90% of its customers are using on-demand software.