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NYS Comptroller

THOMAS P. DiNAPOLI

Press Releases

January 31, 2014, Contact: Press Office (518) 474-4015

DiNapoli Announces New Technology Investment Through Contour Venture Partners

In-State Private Equity Program Invests in New York-Based Companies

Bounce Exchange, a New York City-based technology company specializing in boosting sales through tracking website visitor activity, received venture funding through Contour Venture Partners, an investment partner of the New York State Common Retirement Fund (Fund), New York State Comptroller Thomas P. DiNapoli announced today. The investment was made through the Fund’s In-State Private Equity Program which makes investments in New York State-based companies. 

“Since 2011, the New York State Common Retirement Fund has partnered with Contour Venture Partners for a total of twenty investments through the In-State Private Equity Program. Bounce Exchange is an up and coming technology company that we are excited to invest in,” DiNapoli said. “Solid returns and increased employment opportunities are proof that the program is a win for the Fund and a win for companies in communities around the state.”

"This partnership with the New York State Common Retirement Fund and Contour Venture Partners provides us exceptional flexibility to grow the business. The investment has helped us move into a brand new office and make several additional hires," said Ryan Urban, CEO of Bounce Exchange.

Bounce Exchange’s patented “Exit Intent” technology helps transition website visitors into customers. The company’s BounceX software tracks cursor movement and anticipates the precise second a visitor is preparing to leave the website. At that point, the program offers the visitor an additional opportunity to finalize their purchase and become a customer.

"With the support of the New York State Common Retirement Fund, we are in the position to identify and invest in terrific entrepreneurs in New York and help them grow great companies. We are proud that these companies choose to be in New York, as they create jobs and build value for their employees and investors," said Bob Greene, co-managing partner of Contour Venture Partners in New York City.

The In-State Private Equity Program partners the Fund with 18 private equity managers for investments in New York-based companies. More than $1 billion has been committed to the program, of which $393 million is still available to invest in companies located in New York State. In total, $684 million has been invested in 256 companies.

For more information on the program, visit: http://www.osc.state.ny.us/pension/instate/

About the Common Retirement Fund
New York State Comptroller Thomas P. DiNapoli is trustee of the New York State Common Retirement Fund, the third largest public pension plan in the United States with more than one million members, retirees and beneficiaries from more than 3,000 state and local government employers. The Fund has a diversified portfolio of public and private equities, fixed income, real estate and alternative instruments and has consistently been ranked as one of the best managed and best funded plans in the nation. Over the past 20 years, 82 percent of the cost of benefit payments has been funded by investment returns. The Fund’s fiscal year ends March 31, 2014.

About Bounce Exchange
Bounce Exchange helps top internet retailers and publishers to better monetize their web traffic by using patented marketing technology to boost sales through tracking website visitor activity. Bounce Exchange, located in New York City, is one of the fastest growing enterprise software companies in the U.S.

About Contour Venture Partners
Contour Venture Partners invests in companies focused on information technology, and the application of technology into the financial services, digital media and internet sectors. The principals at Contour have directly supported more than 60 companies through numerous market cycles since the late 1980s. For more information, visit: http://www.contourventures.com/C:\Users.



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