Delco tech company raises $1.1 million

Versify Solutions, a Glen Mills-based asset-management software provider to the electric generation and utility industries, has raised $1.1 million, according to an SEC filing.

The management team at Versify declined to comment on the round. One of its primary investors, SJF Ventures, did not respond to request for comment.

Versify has now raised a total of $6.4 million since its founding in 2005. They last raised $1.5 million in 2015, while their biggest financing came in a Series C round in 2013.

Versify has created an application that enables power producers to analyze data so they may better manage asset dispatch, events, outages and more. Its latest version, V-Performance 5.0, offers a user-friendly, consumer-like interface, user-configurable customizable reporting and market information on fuel and power prices.

David Ippolito founded Versify in 2005 and is now the company’s senior vice president of product development. Prior to Versify, he founded an IT consulting group called Nexus Group Consulting, where helped implement software systems with companies like Exelon, Merck and The Vanguard Group.

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