February 19, 2019 —

Health-E Commerce, the parent company of the nation’s leading family of e-commerce brands dedicated to pre-tax health and wellness products and services, today announced that it has received a majority equity investment from Beecken Petty O’Keefe & Company (“BPOC”), a leading Chicago-based private-equity firm focused exclusively on the healthcare industry. The transaction is effective immediately and financial terms were not disclosed.

Based in New York, Health-E Commerce is the parent company of pre-tax health and wellness shopping sites, and, the newly-launched site, WellDeserved, a hub for redeeming corporate wellness rewards, and Caring Mill — the Company’s private label line of health products that provides a donation with purchase to Children’s Health Fund. Health-E Commerce CEO and founder Jeremy Miller will continue as the Company’s CEO and remains a meaningful shareholder in the business.

“At Health-E Commerce, we focus on a powerful and growing market segment of more than 60 million consumers with nearly $100 billion in spending power. Our rapid growth over the past decade illustrates the increasingly important role pre-tax health and benefits play in the lives of millions of Americans,” said Miller. “Alongside BPOC, we will launch a whole new chapter of growth and help millions more Americans take advantage of products and services that support their health and maximize their benefits through our shopping sites, educational content and consumer advocacy.”

“As more Americans use their workplace benefits to craft personalized solutions for managing their health in an era of ever-rising costs, Health-E Commerce’s brands have emerged as a trusted solution for millions of consumers shopping with FSA or HSA dollars, or redeeming rewards from their corporate wellness programs,” said Grant Patrick, Partner at BPOC. “We believe the Company is well positioned to respond to growing consumer demand for more innovative health benefits and to capitalize on the rapid expansion of the health and wellness benefits space.”

For nearly a decade, Health-E Commerce’s family of brands have devised solutions for the biggest consumer-facing problems related to spending pre-tax health benefits through better consumer education and guaranteed eligible and authentic health products. Health-E Commerce has built the only partner network of more than 250 third-party administrators (TPAs) and more than 300 direct relationships with health and wellness brands to serve over 60 million Americans who currently utilize tax-advantaged accounts like Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and corporate wellness programs.

Financo acted as financial advisor in the transaction and O’Melveny & Myers LLP acted as legal advisor to Health-E Commerce.Paul Hastings LLP served as legal advisor to Beecken Petty O’Keefe & Company.

About Beecken Petty O’Keefe & Company

Beecken Petty O’Keefe & Company is a Chicago-based private equity management firm founded in 1996 to invest in middle-market buy-out transactions, recapitalizations, and growth platforms exclusively in the healthcare industry. BPOC has structured, managed and realized investments on behalf of institutional and individual investors for over two decades. Since inception, BPOC has raised four funds with aggregate capital commitments of over $1.3 billion. The firm is headquartered in Chicago, IL. For more information on BPOC, visit’s Chief Information Officer, Azar Gurbanov, is Awarded NJTC 2017 Private Company CIO of the Year

October 2, 2017

Azar Gurbanov,’s Chief Information Officer, was awarded NJTC 2017 Private Company CIO of the Year. Click on the link below for more information on the New Jersey Tech Council Award Event. 

Two Portfolio Companies Named to Deloitte 2016 North America Technology Fast 500™ Rankings #156 and CMC #484  **Click here to view complete list**


SAN FRANCISCO, Nov. 16, 2016—Deloitte today released the 2016 Technology Fast 500, an annual ranking of the fastest growing North American companies in the technology, media, telecommunications, life sciences, and energy tech sectors. Loot Crate claimed the top spot with a growth rate of 66,661 percent from 2012 to 2015.

Based in Los Angeles, Loot Crate delivers monthly curated mystery boxes of entertainment and pop culture themed collectibles to fans. Founded in 2012, Loot Crate has more than 650,000 subscribers worldwide in 35 countries. Loot Crate’s position at the top of this year’s list showcases how innovation isn’t always about new technology and invention, but also about ingenuity, the recombining of existing assets, and know-how in new ways to maximize value.

Awardees are selected for this honor based on percentage fiscal year revenue growth from 2012 to 2015. Overall, 2016 Technology Fast 500 companies achieved revenue growth ranging from 121 percent to 66,661 percent in the 2012 to 2015 time frame, with a median growth of 290 percent.

“Our personal and professional lives are shifting in response to new technologies and business models that are changing the way we work and live,” said Sandra Shirai, principal, Deloitte Consulting LLP and US Technology, Media, and Telecommunications leader. “The 2016 Technology Fast 500 winners are supporting this shift by creating experiences for their customers, surpassing expected possibilities, and helping to envision even more effective and ingenious solutions. Loot Crate is just one example of how effective organizations face disruption with confidence, striving to understand and harness the potential to propel forward. That means taking risks, encouraging experimentation, and embracing transformation.”

“Being recognized by Deloitte as the fastest growing technology company on the Fast 500 List is an incredible honor,” said Chris Davis, CEO and co-founder of Loot Crate. “Our desire to curate unique experiences for our customers through our shared passion for pop culture, games, and entertainment brands gives our fan commerce business a sense of purpose as we scale and makes coming to work a lot of fun.”

The top 10 ranked companies are as follows:

2016 Rank Company Sector Revenue growth (2012 to 2015) City, State
1 Loot Crate Digital content/
66,661 percent Los Angeles, California
2 Yieldbot Digital content/
39,783 percent New York, New York
3 ARIAD Pharmaceuticals, Inc. Biotechnology/pharmaceutical 21,191 percent Cambridge, Massachusetts
4 Digital content/
16,547 percent Irvine, California
5 BounceX Software 14,575 percent New York, New York
6 Doximity Software 14,350 percent San Jose, California
7 Gainsight Software 12,730 percent Redwood City, California
8 Lexicon Pharmaceuticals Inc. Biotechnology/pharmaceutical 11,839 percent The Woodlands, Texas
9 Datadog Software 10,303 percent New York, New York
10 AppLovin Software 10,276 percent Palo Alto, California
Regional innovation remains strong

Deloitte’s Technology Fast 500 winners hail from cities far and wide across North America—from Los Angeles to New York to Canada. Of the dozens of locations represented on the list, some have a particularly strong track record of turning out successful, fast growing companies that are releasing new, emerging technologies.

Silicon Valley, well-known as an innovation hot spot, continues to lead in representation with 20 percent of the companies on the list, 63 percent of which are in the software industry. The New York Metro area and the Greater Los Angeles area came in next, with 17 and 8 percent respectively of companies on the list in software and digital content, and the media and entertainment sectors. Rounding out the top five markets, the District of Columbia dominated in software and New England in software and biotech.

Following is a list of innovative cities with a significant concentration of winners:

Location Percenage of list Fastest-growing company in the region Overall company ranking Dominate sectors in location
San Francisco Bay Area 20 percent Doximity 7 Software 63 percent
New York Metro Area 17 percent Yieldbot 2 Software 47 percent; digital content/media/entertainment 25 percent
Greater Los Angeles Area 8 percent Loot Crate 1 Software 49 percent; digital/ content/media entertainment 27 percent
Washington, DC  6 percent Supernus Pharmaceuticals, Inc. 12 Software 63 percent
New England 5 percent ARIAD Pharmaceuticals, Inc. 3 Software 44 percent; biotech 33 percent
Software companies maintain 21-year stronghold

Software continues to have the greatest impact across technology sectors, representing 58 percent of the entire list and five of the top 10 winners overall. Of the private companies, 44 percent identified themselves in software as a service (SaaS), 24 percent in enterprise software, and 10 percent in security. Since the creation of the ranking, each year software companies have made up the majority of winners, with a median growth rate of 275 percent this year.

Furthermore, biotechnology/pharmaceutical companies make up the second-most prevalent sector in this year’s rankings, comprising 13 percent of the Technology Fast 500. Digital content, media, and entertainment companies follow next with 12 percent of companies representing this year’s list and a median growth rate of 544 percent.

The percentage of companies from industry sectors represented on the Technology Fast 500 are as follows:

Sector Percentage Sector leader Median revenue growth (2012 to 2015)
Software 58 percent BounceX 275 percent
Biotechnology/pharmaceutical 13 percent ARIAD Pharmaceuticals, Inc. 428 percent
Digital content/media/entertainment 12 percent Loot Crate 544 percent
Medical devices 5 percent Strata Skin Sciences, Inc. 255 percent
Communications/networking 5 percent MacStadium, Inc. 199 percent
Electronic devices/hardware 4 percent FORM Holdings Corp. 290 percent
Semiconductor 2 percent Movidius 209 percent
Energy tech 1 percent Norbachi 215 percent
Majority of companies received venture backing

In the 2016 rankings, 68 percent of the companies were backed by venture capitalists at some point in their company history. Notably, eight of the top 10 companies on the Technology Fast 500 received venture funding.

“Investors continue to remain confident in North American technology companies. Companies that enhance efficiencies through new technologies, enter new markets, and develop new products and business models are the ones who sustain fundraising and will provide a significant return on investment. These are the rising stars,” said Jim Atwell, partner, Deloitte & Touche LLP, and national managing partner of the Emerging Growth Company practice. “The industry understands that while innovation entails taking risks, the absence of innovation is riskier. This is something the Technology Fast 500 winners recognize as they continue to grow and move their companies forward.”

For additional details on the Technology Fast 500, including the complete list and qualifying criteria, visit Connect with us on Twitter: @DeloitteTMT; #Fast500.

About Deloitte’s Technology, Media and Telecommunications practice
Deloitte’s Technology, Media, & Telecommunications (TMT) practice provides industry-leading audit, consulting, tax, and advisory services to more than 1,800 clients in the United States, including the vast majority of market category leaders across all sector segments. Deloitte practitioners, many with direct industry experience, work with one purpose: to deliver measurable, lasting results. They help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. TMT clients count on Deloitte to help them transform uncertainty into a possibility and rapid change into lasting progress. Deloitte practitioners know how to anticipate, collaborate, and innovate, and create opportunity from even the unforeseen obstacle.

About Deloitte
Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 80 percent of the Fortune 500. Our people work across more than 20 industry sectors to deliver measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. Partners with WageWorks to Give Consumers a Convenient Way to Shop with a Flexible Spending Account or Health Savings Account

WageWorks to Make it Easy for its Participants to Spend FSA and HSA Dollars on Websites Solely Dedicated to Eligible Products and Services and, the only e-commerce sites stocked exclusively with eligible products for Flexible Spending Account (FSA) and Health Savings Account (HSA) members, today announced a partnership with WageWorks (NYSE:WAGE), a leader in administering Consumer-Directed Benefits (CDBs), such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. The partnership with WageWorks will provide millions of employees who participate in HSAs and FSAs access to healthcare products and educational resources.

“We are thrilled to add WageWorks to our partner network, which now reaches more than 11 million FSA and HSA holders,” said Jeremy Miller, CEO and Founder. “At a time when consumers are taking more control over their health, we are delighted to be a source of information and convenience for WageWorks participants.”

“ and increase the ease of use and convenience for our FSA and HSA participants,” said Joe Jackson, CEO of WageWorks. “These sites allow them to shop with confidence, since everything on them represents an eligible out-of-pocket expense.” and accept all healthcare account cards and major credit cards. The companies also offer 24/7 customer service, one-to-two-day turnaround on orders, and free shipping on orders of $50 or more.

About WageWorks
WageWorks is a leader in administering Consumer-Directed Benefits (CDBs), which empower employees to save money on taxes while also providing corporate tax advantages for employers. WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. WageWorks makes it easier to understand and take advantage of Consumer-Directed Benefits for more than 45,000 employers and over 4 million people. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, visit

About and are the only e-commerce sites exclusively stocked with FSA- and HSA-eligible products and services to eliminate the guesswork that can come with using a spending account. In addition to more than 4,000 eligible products, the site offers a national provider database of FSA- and HSA- eligible services and an FSA/HSA Learning Center. and accept all account debit and major credit cards, offers 24/7 customer service, one-to-two-day turnaround, and free shipping on orders $50 or more. Consumers enjoy the added benefit of not needing to submit receipts when shopping online with their debit card.


FSA CFO, Jay Shah, Wins NJTC’s 2015 Hall of Fame CFO Award

The New Jersey Tech Council is pleased to announce the 2015 CFO Awards Breakfast, an annual event recognizing the accomplishments of financial executives from our region’s diverse tech and life sciences communities. The Council is pleased to honor and celebrate the outstanding contributions of these leading CFOs/Investors.

Following the keynote by Francois Nader MD, MBA, former President and CEO of NPS Pharma, the program will present awards in four categories: CFO of the Year, Financier of the Year, Deal of Year and the Hall of Fame Award. Join us for breakfast to meet and celebrate these distinguished leaders.


The Tech Council is pleased to announce the 2015 CFO of the Year Awards Finalists. Join us on June 11 at Forsgate Country Club as we reveal the winners and honor these outstanding individuals. Congratulations!

Presented to a current or former CFO for multiple achievements over an extended period of time, in one company or several, which have elevated him/her to a level of recognition among peers.
Tom Aiken, Managing Partner, Cedarwood Partners LLC
Rob Ripp, President, Fintelligent
Jay Shah, CFO,, Inc.

Presented to a CFO of a tech or life sciences firm for outstanding contributions to company’s performance from January 2014 until present.
Finalists: Robert Costantini, Executive Vice President & CFO, ORBCOMM
Dennis O’Dowd, CFO & Chief Administrative Officer, Ivy Sports Medicine
Bryan Perler, CFO, Vitals

Presented to the CFO who successfully completed a merger, acquisition, buyout, buyback, or large round of funding in 2014/2015 resulting in increased revenues and growth for company.
Kathleen Bloch, CFO, CytoSorbents
Scott Coiante, Vice President & CFO, Agile Therapeutics
Francis Shammo, CFO, Verizon Communications

Presented to a VC, investment, merchant or commercial banker who has contributed to the economic development of state/region’s tech/life sciences communities, including but not limited to the following: Responsible for attracting new capital to state/region; invested in, or loaned capital to local tech/life science companies; and recognized for accomplishments in community education/leadership.
Katherine O’Neill, Executive Director, Jumpstart NJ Angel Network
Ryan Ziegler, General Partner, Edison Partners


Second round financing led by Originate Ventures includes additional investment from previous investors Point Judith Capital and the Lang Fund of Columbia Business School

NEW YORK, Oct. 9, 2012 /PRNewswire/ —, the only e-commerce site exclusively stocked with Flexible Spending Account (FSA) eligible products and services, closed its second round financing of more than $2 Million. The financing, led by Originate Ventures, includes investment from previous investors Point Judith Capital and Columbia Business School Lang Fund, as well as additional angel investors.

The funding will be used to accelerate sales, marketing and development initiatives, as the company continues to expand to meet growing consumer demand for its products and services. enables consumers with Flexible Spending Accounts to use their tax-free dollars to purchase more than 6,000 healthcare products and browse hundreds of services directly from the website. partners directly with FSA Administrators (TPAs) to make a wide range of health products, tools, and services directly available to FSA holders.

“We are thrilled that Originate Ventures, a leading early stage investor in the healthcare sector, is joining our existing investors in our latest financing round, which will provide us with the resources necessary to expand our operations to meet the rapidly growing demand for our products and services,” said Jeremy Miller, founder and president.

“In just two years has shown impressive results in the development of its TPA network, new product initiatives such as their prescription service, and strong customer satisfaction and retention,” said Glen Bressner, Managing Partner at Originate Ventures. “We look forward to our partnership and to helping the company build toward the next stage of service to TPAs and consumers.”

“The ability to use FSA tax-free income to purchase thousands of high quality healthcare products and services is a tremendous advantage for consumers and an important opportunity for TPAs to meet plan member needs, especially during tough economic times,” said David Martirano, co-founder & general partner at Point Judith Capital. “FSA Store is ideally positioned to expand operations as interest in this purchasing option continues to expand, and we are committed to their long term success.”

About is the only one-stop-ecommerce site exclusively stocked with FSA eligible products and services, eliminating the guesswork regarding what is reimbursable by an FSA. Consumers who have Flexible Spending Accounts can access more than 6,000 high quality FSA eligible products, in addition to FSA eligible services and much needed information through our FSA Learning Center. accepts all FSA and major credit cards, offers 24/7 customer service, one-to-two-day turnaround for all orders, and free shipping on orders $50+. In addition there is no need to submit receipts for consumers who purchase products on using an FSA card.

About Originate Ventures

Originate Ventures is a venture capital investment firm, targeting early stage product and services companies located in Pennsylvania and the Mid-Atlantic region. The firm focuses on opportunities with medical devices, healthcare, consumer, information technology, Web-based and commercial products. Operating with an entrepreneurial spirit and vision, Originate’s investments range in size from $500,000 to $4,000,000.

We believe our brand building techniques and experience uniquely permit us to accelerate growth and reduce additional capital rounds, allowing founding entrepreneurs to retain more ownership. Our almost three decades of experience, in over 60 categories, also allows us to better identify and assist in creating strong brands. Finally, we take pride in being entrepreneurs first, though the partners have strong track records as business owners and management consultants.

About Point Judith Capital

Point Judith Capital (PJC) is a leading early stage venture capital firm based in Boston, MA. The firm focuses on three rapidly growing sectors rich with innovation: Clean Technology, Internet Technology, and Healthcare Technology. Building positive and collaborative relationships with portfolio company management, the Point Judith Capital Partners take a hands-on approach to investing. PJC’s investment approach is based on the core belief that with the right capital and support, great entrepreneurs can build market-leading companies. For more information about Point Judith Capital visit