DULLES, VA -- (Marketwired) -- Jun 03, 2013 -- Echo360, the global leader in active and distance learning solutions, is pleased to announce that Tony Abate, the company's Chief Financial and Operating Officer, has been named Emerging Growth CFO of the Year for the 2013 Greater Washington Technology CFO Awards, produced by the Northern Virginia Technology Council (NVTC). Now in its 17th year, the awards recognize CFOs and financiers for extraordinary achievement and excellence in promoting the development of the Greater Washington region's technology community. Among his notable accomplishments in the last year, Abate closed a $30M financing round led Revolution Growth, managed two acquisitions, and flawlessly led the company's operations and product development efforts during a period when Echo360 has experienced a 35 percent CAGR.
"Tony's gift is his ability to quickly synthesize and see the relationship between Echo360 corporate strategy, the business model and product implications -- a unique formula in a CFO. Tony not only manages a world-class finance department with integrity, but he uses his technical acumen to lead product management and development of higher education's #1 active learning solution," said Fred Singer, Echo360 CEO. "We're proud of Tony's accomplishments and thrilled that the NVTC recognized his contributions by naming him Emerging Growth CFO of the Year."
The Echo360 active learning solution engages students throughout the learning process before, during and after class. Its solutions were built for educators, by educators to address the growing economic and delivery challenges facing colleges and universities. Echo360 helps instructors flip the classroom, improve learning outcomes through increased student participation and social learning, leverage distance learning to extend education and training programs, and provide more access to instructional material with lecture capture. To date, more than 600 clients in 30 countries around the world use Echo360 technology.
Abate was an integral player in the company's 2012 success by preparing it for significant growth, new acquisitions and product expansion resulting from new funding channels. Tony managed the company's effort to raise growth capital from Revolution Growth -- the firm operated by Steve Case, Ted Leonsis and Donn Davis. The financing was used to acquire LectureTools, a student engagement technology built at the University of Michigan, and ThinkBinder, a social learning tool. Abate led the transaction team for both acquisitions. These acquisitions helped Echo360 transition its solution from lecture capture and blended learning technology to the industry's first active learning platform. These achievements have enabled Echo360 to set its sights even higher: the company aims to reach 50% of all college students in the United States with its technology by 2015.
NVTC is the region's premier advocate representing the technology industry in vibrant Northern Virginia region outside of Washington DC. Its efforts keep the Commonwealth of Virginia competitive and promote STEM (science, technology, engineering and math) education. It is the largest technology council in the nation, serving about 1,000 companies from all sectors of the technology industry.
Abate began his career in the United States Air Force, where he developed an advanced computer platform for the then-classified stealth aircraft program. He graduated summa cum laude with a BSE in Electrical Engineering from Duke University and holds an MBA with honors from Harvard Business School.
Nearly 2M students in 6,000 classrooms at 600 institutions across 30 countries rely on Echo360's active learning technology to enhance their educational experience before, during and after class. Developed for educators by educators, Echo360 increases in-class participation with digital polling, provides a rich out-of-class experience by recording and publishing course instruction and delivers deep usage analytics to help instructors respond to student progress. Students watch lectures, collaborate with peers and participate in class on smartphones, tablets and laptops, wherever, whenever they choose. Echo360 was recognized with the Product Line Strategy of the Year Award from Frost & Sullivan, is CSIA-certified for outstanding customer service and was named a Visionary Vendor in Educational Technology by IT research firm Basex. Echo360 is backed by Revolution Growth led by Steve Case, Ted Leonsis and Donn Davis.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2326635
For Echo360: GdR PRoductions, LLC Gabriel del Rio