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Razorsight CEO Charlie Thomas Named 2012 GAP 50 Top Entrepreneur by Center for Innovative Technology

Revolution LLC Chairman Steve Case and Virginia Lt. Governor Bill Bolling Hail Winners at Event Crowning State's "Year of the Entrepreneur"

RESTON, VA -- (Marketwire) -- 12/18/12 -- Razorsight, the global leader in cloud-based analytics for communications service providers, announced that CEO Charlie Thomas has been named a winner of the Center for Innovative Technology 2012 GAP 50 Entrepreneur Award, a new statewide award program celebrating Virginia's next generation of innovative entrepreneurs who create and drive high-growth companies.

Steve Case, co-founder of AOL and current Chairman of Revolution LLC, and Virginia Lieutenant Governor Bill Bolling presented the awards at an awards banquet in Herndon, VA.

The CIT GAP 50 Entrepreneur Award selection used a peer voting process in which entrepreneurs from around the Commonwealth select the winners. Honorees for 2012 were selected from over 800 nominations and 272 finalists.

"As the crowning event of Virginia Governor Bob McDonnell's 'Year of the Entrepreneur,' the award recognizes visionary industry leaders whose accomplishments inspire their peers and enhance Virginia's reputation as a premier hub of technology innovation," said Tom Weithman, Managing Director of CIT GAP Funds, the driving force behind the GAP 50 Entrepreneur Award.

"Winning the CIT GAP 50 Award is a very great honor for me personally and for Razorsight," said Razorsight CEO Charlie Thomas. "It's extremely rewarding to be recognized among a group of CEO peers that epitomizes thought leadership, innovation and the entrepreneurial spirit that drives growth and creates jobs in the U.S."

About Razorsight's Charlie Thomas
Charlie Thomas is CEO of Razorsight, recently named by Frost & Sullivan as the global leader in cloud-based analytics solutions for communications service providers. Thomas has led Razorsight to strong growth including a #8 ranking on Deloitte's Virginia Fast 50 and a #114 ranking on Deloitte's National Fast 500 list. He has secured over $30 million in growth capital for Razorsight from leading institutional investors Sierra Ventures and Georgian Partners. Prior to Razorsight, Thomas co-founded, grew and sold 4 companies, and negotiated over $1 billion in capital financings for his companies. Thomas has successfully closed over 15 M&A transactions. He has personally invested in over 15 Washington, DC area start-ups, and he serves on several corporate boards. He's an alumnus of the University of Virginia.

About Razorsight, www.razorsight.com
Razorsight provides cloud-based financial assurance and predictive analytics solutions for Communications Service Providers (CSP). Razorsight's Software-as-a-Service (SaaS) acts as a stimulus to CSPs by driving revenue growth and cost reduction. Razorsight's highly scalable, web-based software is easy to install, requires no capital investment, and has delivered millions of dollars in profitability gains at industry leaders such as AT&T, Verizon, Telus, Comcast, Cbeyond, CenturyLink, Windstream, T-Mobile, Telekomunikacja Polska (TP Group), Tata, and IBM.

About CIT GAP Funds, www.citgapfunds.org
CIT GAP funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital funds such as: New Enterprise Associates, Rotech Ventures, Valhalla Partners, Harbert Venture Partners, HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.

About the Center for Innovative Technology, www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology start-up companies and advanced technology consumers. Its CAGE Code is 1UP71.

For Razorsight media inquiries, please contact:
Jim Crawford
Crawford PR
571-261-8230
Email Contact

For CIT media inquiries, please contact:
Hap Connors
CIT
703-689-3048
Email Contact

Stephanie Boucher
CIT
703-689-3064
Email Contact

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