Veteran Technology Executives Join Parchment As Growth Accelerates

5/3/2012 12:00:00 AM

New CFO and VP of Business Development Bring Proven Track Records Scaling SaaS and Consumer Internet Ventures

SCOTTSDALE, Ariz. (May 3, 2012)Parchment Inc., the education credentials data pioneer, announces the appointments of Robert Colletti, C.P.A., as chief financial officer and Jeff Dinski as vice president of business development. With experience scaling fast-growing, early-stage ventures, Colletti and Dinski bring a combined 35-year track record in Software-as-a-Service (SaaS) and consumer Internet companies to the Parchment management team. Parchment works with institutions and corporations around the world helping people collect, promote, and share their education credentials in simple and secure ways.

“Bob and Jeff are proven leaders who will be instrumental in supporting and accelerating our growth,” said Matthew Pittinsky, Ph.D., Parchment CEO. “We are on track to again double the volume of transcript data we exchange this year, which carries with it opportunity and responsibility. Attracting top management talent is critical to realizing our goal of becoming a large-scale education credentials data company.”

Colletti brings more than 25 years of senior leadership and experience scaling companies with both the enterprise and SaaS business models. As CFO, he oversees all of Parchment’s finance and administration functions, including accounting, investor relations, financial planning and analysis, human resources, and legal. Colletti formerly served as CFO for Learn.com, a leading venture-backed corporate learning management system that was sold for $125 million to Taleo (now Oracle). Prior to Learn.com, he served as CFO of Eclipsys Corporation (now Allscripts), where Colletti played a significant role in growing the company’s revenues from $70 million to $500 million while expanding the employee base from 500 to 3,000 employees.

“I am a big believer in the importance of education credentials, both to the life opportunities of individuals and to the productivity of organizations,” explained Colletti. “I saw it at Learn.com and in the healthcare market with Eclipsys. I am thrilled to join a team with not only such a clear and compelling mission, but also a uniquely successful education entrepreneur like Matthew with whom I can help realize that mission.”

Dinski joins Parchment as vice president of business development to expand the company’s industry-leading solutions, Docufide® by Parchment™ and Parchment.com, into new markets and generate new revenue opportunities. He brings extensive expertise in both online operations and business development to the company.

Prior to joining Parchment, Dinski was the COO and co-founder of e-commerce company GaggleofChicks.com, which was later acquired by Juice In The City. Prior to GaggleofChicks.com, Dinski served in business development roles for CBS Interactive and Comcast Interactive Media. At Comcast, Dinski was responsible for negotiating all business deals for Comcast.net, which sees more than 17 million unique visitors each month and generates more than $200 million in annual revenue.

About Parchment
Parchment’s mission is to unleash education credentials by unlocking the critical data they embody. A credentials data company, Parchment works with institutions and corporations around the world helping people collect, promote, and share their education credentials in simple and secure ways. At Parchment.com, students can research colleges and discover their chances of admission, see how they compare with peers, get college recommendations, and send official transcripts when they are ready to apply. The company’s Software-as-a-Service (SaaS) offering, Docufide® by Parchment™, is the leading transcript exchange and intelligence platform. The solution enables the secure, rapid exchange of millions of electronic transcripts and other student records among nearly 9,000 schools and universities, six state education agencies, and hundreds of thousands of individuals. Founded in 2003, Parchment Inc. is a venture-backed company headquartered in Scottsdale, Ariz. Visit www.parchment.com/company for more information.

Media Contacts
• Mark Cohen, Parchment, Inc., 480-719-1646 x1009, mcohen@parchment.com
• Kristen Plemon, C. Blohm & Associates, 608-216-7300 x18, kristen@cblohm.com

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