TWC Group :: Press Archive

TWC Business Launch 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."

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. Additional information about TWC may be found at www.twcgroup.com.