[February 09, 2011]

ASU Professor/Technology Entrepreneur Headquartering Venture Backed Education Company in Scottsdale - Sees "Huge" Growth Potential

An Arizona State University sociology professor and education entrepreneur today announced plans to establish in Arizona the headquarters for a company that's revolutionizing the way academic institutions and their graduates move and use education credentials, unleashing the critical data they embody. Effective immediately, Docufide,® Inc., has moved its headquarters from Los Angeles to Scottsdale, with ASU assistant professor Matthew L. Pittinsky, Ph.D.., taking over as Docufide's chief executive officer.

Pittinsky is the co-founder and former CEO and Executive Chairman of Blackboard (News - Alert) Inc. (NASDAQ:BBBB), the $1.4 billion education technology company whose software is used by tens of millions of students around the world. Some 20 Arizona jobs will be created over the next few months, with many more potentially on the horizon, ittinsky said.

"When I made the decision to join Docufide as its CEO, I considered several regions in the country to determine the best place to grow an early-stage company before deciding on Scottsdale," said Pittinsky. "Arizona and Greater Phoenix have in place a robust education technology infrastructure that includes a talented workforce, sector leaders such as Apollo Group, Pearson, and Blackboard, and the unique resources offered by Arizona State University."

Founded in 2003, Docufide® is Education's Trusted Intermediary,™ a leading Software-as-a-Service (SaaS (News - Alert)) platform that allows users to electronically deliver, manage, and analyze a range of education records. Docufide services have been used by more than 7,000 high schools, colleges and universities to exchange millions of transcripts and other student records. The company has been selected by 11 states to provide the infrastructure for electronic exchange initiatives. Docufide's revenues have tripled over the last two years. Joining Pittinsky in the company's $4.5m venture-financing round are original investors in Blackboard, including leading early-stage education investment firm Novak Biddle Venture Partners. The financing is Docufide's first institutional round.

Docufide will also maintain office space at SkySong, the ASU Scottsdale Innovation Center. SkySong is the hub for the Education Innovation Network, an open innovation platform where education entrepreneurs can find resources to validate concepts, accelerate growth, and reach transformative scale. Pittinsky serves on the Network's advisory board.

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