About Daniel Raynor
Daniel Raynor is a Managing Partner and co-founder of Argentum. In addition to leading new investments and co-managing the firm, Dan is an active board member of Argentum’s portfolio companies and an advisor to Argentum’s CEOs.
Dan has more than 25 years of private equity experience and has led nearly 40 investments for Argentum and served on a similar number of boards of directors. Dan’s areas of expertise include technology-enabled services, business services, healthcare & pharmaceutical services and logistics.
Prior to co-founding Argentum in 1988, Dan was Senior Vice President, Corporate Finance at Steinberg & Lyman (now Healthcare Ventures, LLC), a leading venture capital firm focused on the healthcare industry, and Assistant to the CEO & Chairman of ICN Pharmaceuticals, Inc. (now Valeant Pharmaceuticals).
Dan received a B.S. in economics from The Wharton School, University of Pennsylvania.
Dan is an endurance junkie, always looking for his next mountaintop challenge. He is an avid cyclist, runner, skier, and hiker, although he quit doing triathlons because he is such an awful swimmer. He works out so hard so he can pursue his other passions of enjoying great meals with friends and family and drinking healthy amounts of craft beer. Dan’s Zelig moment was running the last 2 miles of the NYC Marathon next to Lance Armstrong while being broadcast nationally.
Portfolio Company Investments
AdhereTech
AdhereTech provides pharma-sponsored support programs to patients on specialty medications, all powered by its patented smart pill bottles. Customers include many of the largest pharmaceutical companies and specialty medications, as well as most of the top specialty pharmacies in the US. On average, the AdhereTech program generates 1 to 2 additional fills of specialty medications, per patient per year. Additionally, the program is clinically shown to improve duration on therapy by 26%, fill rates by 9%, and dose-level adherence by 15%. Patients love using AdhereTech, with an average patient satisfaction rating of 4.7 out of 5.
ANI Pharmaceuticals
ANI Pharmaceuticals is a private specialty generic pharmaceutical company headquartered in Baudette, MN. ANI markets and manufactures liquid and oral solid prescription and over-the-counter pharmaceutical products and provides contract manufacturing services for other pharmaceutical companies.
Argentum Deal Team
Daniel RaynorApplied Data
Applied Data Systems, Inc. (ADS) designs, develops and produces “application-ready” embedded computer systems, typically running on a wide variety of state-of-the-art processors and operating systems. Its products stand out for their sophisticated interface graphics, low power consumption and robust functionality. ADS specializes in helping customers connect their application to the latest available wireless technologies. ADS was acquired by Eurotech in January 2007.
Buyer Quest
BuyerQuest provides next-generation cloud-based enterprise-level procurement, invoicing and e-commerce solutions to large organizations. By bringing an intuitive, easy to use B2C e-commerce experience to the B2B procure-to-pay (P2P) process, BuyerQuest addresses the poor user adoption rates, lower than anticipated ROI, and other shortcomings of existing P2P solutions, by “eliminating the difference between shopping at home and shopping for work”. BuyerQuest was acquired by The ODP Corporation in February 2021.
Centercode
Centercode is the leading provider of end-to-end Customer Validation SaaS and managed services solutions to global B2C and B2B enterprises. Its platform serves as the centralized workflow to address the quality assurance and customer experience needs of any organization by enabling the company to create custom tests, recruit and manage testers, collect detailed feedback and deliver actionable insights through its proprietary prioritization algorithm. Centercode is trusted by some of the most iconic and innovative companies in the world to bring best-in-class products to market through effective Alpha, Beta and Delta tests.
Argentum Deal Team
Daniel RaynorChrome River
Chrome River Technologies, Inc. provides expense reporting and invoice automation solutions that uniquely combine the latest available internet technologies with over 25 years of financial systems experience. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. This unique service is easily configurable to meet the needs of organizations worldwide with complex expense management policies and collaborative approval processes.
Argentum Deal Team
Daniel RaynorDynamic Healthcare Technologies, Inc
Dynamic Healthcare Technologies was a leading provider of mission critical health care information systems for clinical services departments and facilities. It developed, marketed, and supported a broad line of image-, voice-, and web-enabled information systems solutions for anatomic pathology, radiology, laboratory, surgery, and health information management. DHTI’s information systems were installed in more than 650 customer locations across the U.S. and Canada. DHTI became publicly traded on Nasdaq prior to its acquisition by Cerner Corp. (Nasdaq: CERN) in 2001.
Argentum Deal Team
Daniel RaynorEmpowerMX
EmpowerMX provides AI-powered aviation maintenance software solutions for airframe Maintenance Repair and Overhaul (MRO), which are trusted by the largest aviation organizations in the world, including Embraer, MRO Holdings, Delta and American Airlines. The company was sold in July 2024 to IFS, a leading global provider of cloud and Industrial AI software backed by leading private equity firms including EQT Partners, Hg, and TA Associates.
Expert Plan
ExpertPlan, Inc., headquartered near Princeton, NJ, is the premier provider of private-labeled record keeping solutions to asset management firms, TPAs, RIAs, broker dealers, insurance companies, CPAs, payroll companies, accountants and banks that serve 401(k) and other defined contribution plans. The Company’s scalable record keeping solution can be customized to fully integrate with a client’s business and distribution models. ExpertPlan was acquired by Ascensus in December 2012.
Argentum Deal Team
Daniel RaynorFlightdocs
Flightdocs provides mission-critical SaaS-based flight department management solutions to the aviation industry, that seamlessly integrate maintenance tracking, compliance, inventory management, and flight operations. Flightdocs enables aircraft owners, operators, and manufacturers to track and manage the maintenance and airworthiness of aircraft, comply with rigorous safety rules and regulatory guidelines, reduce costs, mitigate risks, and minimize asset downtime. Serving the aviation industry for over 15 years, Flightdocs’ customers include Fortune 1000 corporate flight departments, aircraft manufacturers, air charters, air medical providers, fractional aircraft operators, and government agencies.
Fleetworthy Solutions
Fleetworthy is a leading provider of cloud-based compliance and risk mitigation software, data visualization solutions, and tech-enabled services for commercial fleets. Over 1,200 leading commercial fleets, covering a footprint of more than 200,000 drivers and over 250,000 assets, rely on Fleetworthy to manage and identify risk, adhere to DOT, IFTA, IRP, and other regulations, and help ensure safe and compliant operations. With over 30+ years of commercial fleet experience and a flexible delivery model that ranges from a cloud-based do-it-yourself software-as-a-service (SaaS) platform to a fully outsourced, turnkey, tech-enabled managed service, Fleetworthy helps private fleets, for-hire carriers and third-party logistics companies of all sizes surpass compliance of federal, state, and local regulations and streamline processes to reduce costs and mitigate risks. Fleetworthy was sold to Bestpass, the leading toll management and payment platform for commercial vehicles and a portfolio company of Insight Partners and Susquehanna Growth Equity.
FutureHealth
Based in Hunt Valley, Maryland, FutureHealth is a population health management company offering employers solutions to help them better manage the cost and complexity of health care. Founded in 1992, FutureHealth provides URAC accredited disease, case, utilization and maternity management services, as well as health and wellness offerings and a nurse advice and triage line, to individuals nationwide. FutureHealth was acquired by Nationwide Insurance in January 2006.
Global Employment Solutions
Global Employment Solutions is a leading provider of professional and commercial staffing services, including but not limited to temporary and contract staffing, permanent placement, executive search and human resource consulting. The Company serves a diverse cross-section of companies and employees who demand the personal attention of a local business, while valuing access to a wide range of global resources under one roof, including administrative/clerical, customer service, light industrial, among others. In March 2006, the Company consummated a majority recapitalization involving a merger with a publicly-traded company. Argentum sold substantially all of its interest in Global Employment Solutions in connection with this transaction.
Argentum Deal Team
Daniel RaynorHorizon Health
Specialty Healthcare Management was a leading provider of behavioral and physical rehabilitation clinical services within the acute care hospitals. Argentum provided the equity capital to support a management buy-out of this division of national Medical Enterprises (now Tenet). After operating successfully as an independent company for 2.5 years, the Company was acquired by industry leader, Horizon Health Corporation (now a unit of Universal Health Services – NYSE “UHS”).
Argentum Deal Team
Daniel RaynorInsellerate
Insellerate is a leading provider of customer relationship management (CRM) and marketing automation solutions to the mortgage lender and real estate industries. Its platform enables loans officers to better track, connect, and engage with customers, resulting in higher lead conversion rates, lower origination costs, and more closed loans. Insellerate’s enterprise solutions are built to serve highly regulated businesses and process billions in monthly loan volume.
IVision International
Ivision International administers and provides routine vision care products and services to insurance companies, health maintenance organizations, preferred provider organizations, associations, employer groups, and other similar entities. These products and services are delivered through networks of credentialed providers who offer accessible and professional routine vision care. Ivision International’s efficient business model and automation of operations translates into a mutually beneficial arrangement between its members, network providers, and contracted groups.
Argentum Deal Team
Daniel RaynorL2 Aviation
L2 Aviation is a leading provider of global avionics and fleet modernization solutions for the aviation aftermarket, including complex avionics engineering, system design, repair, certification, kitting, installation, supplemental type certificates (STCs), integrations, and manufacturing services. L2 helps many of the world’s leading OEMs, airlines, governments, militaries, satellite and communications services providers, MROs, and business aviation operators shorten the time to market for new products, minimize aircraft downtime, adapt to evolving technologies, comply with regulations, and maintain the value, airworthiness, and mission-readiness of their fleets.
LAUNCH
LAUNCH Technical Workforce Solutions (LAUNCH TWS) is one of the largest and fastest growing providers of workforce solutions to the aviation industry, and serves leading airlines, MROs, OEMs, and aircraft service centers. The company provides highly skilled aviation personnel, including mechanics, technicians, engineers, and machinists, as well as project-based teams for avionics, structures, and aircraft on ground (AOG). LAUNCH is guided by a leadership team possessing extensive experience and successful track-records in aviation and technical staffing.
Lender Price
Lender Price is a leading provider of cloud-based mortgage pricing and digital lending solutions. Its technology platform, anchored by its product, pricing, and eligibility (PPE) engine, helps mortgage lenders close more loans and optimize pricing across all their channels in real-time. Lender Price supports 150+ lenders, including some of the country’s largest: Mr. Cooper, Flagstar Bank, American Financial Resources (AFR), PennyMac, QuickenLoans, Freedom Mortgage, Deephaven and two of the top ten commercial bank mortgage lenders.
MarginPoint
Established in 1999, MarginPoint is a leading provider of cloud-based indirect material management solutions for the industrial market. More than 400 industrial companies currently rely on MarginPoint solutions daily to reduce their indirect material spending and streamline their indirect material management processes.
Argentum Deal Team
Daniel RaynornetBOA
netBOA (formerly Cobra Administrative Services Inc.) outsourced COBRA benefits administration, HIPAA (Health Insurance Portability and Accountability Act) administration, and retiree benefits transaction processing for large corporations. The Company distinguished itself by offering more custom service than most of its competitors. Its clients included a large airline, utilities, and a regional telephone company. netBOA was acquired by Automatic Data Processing Inc.’s Major Accounts Services (NYSE: ADP) in January 2000.
Argentum Deal Team
Daniel RaynorNuCO2
NuCO2 is the only national provider of certified, beverage-grade carbon dioxide and draft-grade nitrogen gas solutions to the restaurant and hospitality industry. With service locations within reach of virtually all beverage users in the U.S., its experienced professionals comprise the largest network of sales and support specialists in the industry. NuCO2 serves national chain and local restaurants, convenience stores, theme parks and sports/entertainment venues by delivering the most reliable, economical and convenient beverage carbonation solutions. Headquartered in Stuart, Fla., NuCO2 services more than 130,000 customers and 30 million consumers every day. NuCO2 was acquired by Aurora Capital Group in May 2008.
Argentum Deal Team
Daniel RaynorPaciolan
Paciolan is a leading ticketing enabler, providing ticketing, fundraising and marketing technology solutions for top venues across North America. Paciolan provides a wholly integrated infrastructure that puts venues in direct control of their customer relationships, brands and revenue potential. Primary markets include performing arts, college athletics, professional sports, museums, and arenas. Paciolan was acquired by TicketMaster in January 2008.
Argentum Deal Team
Daniel RaynorParallax Capital Partners
Parallax specializes in acquiring and operating software companies that have proven products and established customer bases. Parallax provides these companies with experienced management skills as well as cost effective infrastructure support including accounting and finance, sales and marketing, research and development, and human resources expertise. This unique capability has helped the Parallax family of companies succeed worldwide as leading software vendors across such industry sectors as financial services, government, media, telecoms, manufacturing, and engineering. Notable Parallax companies have included MicroFocus, Multigen-Paradigm, Infor, Inovis and Computron.
Argentum Deal Team
Daniel RaynorQPS
QPS provides GLP/GCP-compliant preclinical and clinical research services to pharmaceutical and biotechnology clients worldwide in the areas of Bioanalysis, Drug Metabolism and Pharmacokinetics, Toxicology, Translational Medicine, and Clinical Research. Founded by Dr. Ben Chien in 1995, QPS has Bioanalysis and Preclinical testing facilities at its Newark, DE headquarters; and facilities in Groningen, the Netherlands; Taipei, Taiwan; and Hyderabad, India. Early-phase clinical facilities are located in Springfield, MO; Taipei, Taiwan; Groningen, the Netherlands; and Hyderabad, India.
ReSearch Pharmaceutical Services, Inc.
ReSearch Pharmaceutical Services, Inc. (RPS) is a global, next-generation clinical research organization, or CRO, providing clinical development services to the biopharmaceutical industry. The Company’s services support the design, initiation and management of its clients’ clinical trials programs that are required to obtain regulatory approval to market biopharmaceutical products. RPS provides these services either as integrated solutions, embedded within the client’s internal clinical development operations and supporting the entire breadth of the client’s drug development pipeline, or on a more traditional project-by-project basis. RPS’s innovative, next-generation business model allows it to leverage its clients’ existing processes to improve quality, increase the speed of product development and reduce overall development costs while allowing its clients to maintain control of their development portfolio. RPS offers its services on a global basis, including in North America, Latin America, Europe and Asia, and has developed a diverse client mix including 14 of the 15 largest pharmaceutical companies in the world. RPS was acquired by affiliates of Warburg Pincus in February 2011.
SPI Manufacturing
SPI Manufacturing was the largest designer, manufacturer and wholesaler of commercial and light industrial modular building structures. In 1998, the Company merged with Modtech Holdings Inc. (Nasdaq: MODT), the largest manufacturer of modular, relocatable classrooms.
Argentum Deal Team
Daniel RaynorTransForce
Established in 1991, TransForce is the nation’s leading specialty staffing firm devoted exclusively to the transportation industry. The Company is committed to a culture of DOT compliance and safe driving. TransForce operates through a branch network of 33 offices across the nation.
Transformative Pharmaceutical Solutions
Transformative Pharmaceutical Solutions (TPS) provides customized Adaptive Integrated Monitoring solutions to biopharmaceutical company sponsors and investigative sites conducting clinical trials. By leveraging “people, process and technology”, TPS addresses the inefficiencies inherent in current outsourcing strategies and the associated lack of transparency, utilizing real-time monitoring of clinical and operational data to drive quality, efficiency and cost savings. The company brings together industry leaders with over two decades of experience building and implementing integrated solutions within the Pharmaceutical Industry.
UFA
UFA, Inc. is a leading provider of mission-critical air traffic control (ATC) simulation and training software solutions to the world’s air navigation service providers (ANSPs), militaries, universities and major commercial integrators. Covering a global footprint of nearly 400 air traffic control centers, airports, military bases, and training academies, UFA’s customers include the U.S. Federal Aviation Administration (FAA), the U.S. Military, DFS Deutsche Flugsicherung, NAV CANADA, skyguide, CAA Singapore, numerous NATO militaries, and major universities such as Kent State University, University of North Dakota, and University of Massachusetts. UFA is headquartered in Burlington, MA, with wholly owned subsidiaries in Germany (ATCSim GmbH), Canada and Singapore.
WarrCloud
WarrCloud is the retail automotive industry’s first and only provider of technology-enabled warranty processing services. WarrCloud’s innovative technology streamlines and automates the warranty claim creation and submission process, thereby decreasing manual tasks, reducing errors, and accelerating cash collections by dealers. Across its dealership customer base, WarrCloud has been shown to decrease warranty processing times by 5x, increase warranty revenue over 10%, reduce processing costs by up to 60%, and improve compliance with OEM guidelines to improve dealer ratings and reduce costly audits.
White Cap Holdings, Inc
White Cap Holdings, Inc. is a leading wholesale distribution company, providing a broad range of products and services to professional customers in the infrastructure & energy, maintenance, repair & improvement and specialty construction markets. With a diverse portfolio of industry-leading businesses, White Cap is one of the largest diversified wholesale distributors in North America. White Cap had an initial public offering in 1997 and was subsequently acquired by Home Depot, Inc. (NYSE: HD) in May 2004.
Argentum Deal Team
Daniel RaynorYtel
Ytel® specializes in cloud-based B2B communications solutions, powering modern communications through voice, text, email and direct mail. Its SaaS-based offerings include Cloud Contact Center®, message360°®, and sipPro™. Ytel supports billions of outbound and inbound interactions, on a company owned network, for the primary purpose of increasing revenue and maximizing efficiency for clients.
Argentum Deal Team
Daniel Raynor