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Dwayne Spradlin, CEO of InnoCentive, named to Cortera’s board of directors
October 1st, 2009
Former president of Hoover’s Inc. joins Cortera’s mission to bring crowdsourcing to business credit reporting.
BOCA RATON, Fla. – October 1, 2009 — Cortera™, a community-driven business information company, announced the appointment of Dwayne Spradlin to the company’s board of directors.
Mr. Spradlin is president and CEO of InnoCentive, Inc., a market leader in global web community innovation, and was formerly president of Hoover’s, Inc., a business information company owned by Dun & Bradstreet, Inc.
The appointment comes on the heels of Cortera’s widely publicized launch of its new community for small business credit reporting, The Cortera Credit Exchange, unveiled at DEMOfall 09. The new credit community provides an alternative model to commercial credit bureaus by tapping into the collective insight of millions of financial interactions not covered in traditional commercial credit reports. This information can then be used to minimize credit risks when evaluating partners and to attract more favorable payment terms.
“Cortera represents a fresh, disruptive approach to the antiquated business credit market – the kind of social response that has already shaken other industries to their very foundation,” says Spradlin. “They are at the forefront of tapping into vibrant business communities to transform businesses’ ability to make decisions that impact cash flow and an ability to rapidly capitalize on new opportunities.”
Prior to Hoover’s Inc., Spradlin was president and chief operating officer of Starcite, Inc., served as senior vice president of Corporate and Business Development for Verticalnet Inc., and was a director in the E-Business and Emerging Technology practice at PriceWaterhouseCoopers.
He holds a BA in Applied Mathematics and an MBA from the University of Chicago.
“Dwayne is a valuable addition to our board and shares a common vision for embracing community approaches to disrupting the business information market,” said Jim Swift, CEO of Cortera. “His direct experience at Hoover’s, Inc., along with his global leadership in community-based innovation at InnoCentive, makes him an ideal leader to help guide Cortera’s ongoing transformation of the commercial credit market.”
About InnoCentive
InnoCentive is the world leader in open innovation. Since 2001, InnoCentive has helped corporate, government, and non-profit organizations to better innovate through crowdsourcing, strategic consulting services and internal Software-as-a-Service offerings. The company built the first global Web community for open innovation where organizations or “Seekers” submit complex problems or “Challenges” for resolution to a “Solver” community of more than 180,000 engineers, scientists, inventors, business professionals, and research organizations in more than 175 countries. Prizes for winning solutions are financial awards up to US $1,000,000. Committed to unleashing diverse thinking, InnoCentive continues to introduce new products and services exemplifying a new corporate model where return to investors and individual passion go hand in hand with solving mankind’s most pressing problems. http://www.innocentive.com/
About Cortera
In a sea of business information providers, Cortera is different. With over 15 years of experience serving finance professionals, Cortera combines premium business information and innovative tools with a fresh community approach to commercial credit. It represents the first community for small business credit reporting and a fundamentally new way to capture the collective insight of millions of financial transactions. As a result, small businesses can make smarter, informed decisions to ensure optimal cash flow while attracting more favorable payment terms from existing and potential business partners.
For more information on Cortera, please visit http://www.cortera.com.
Media Contacts:
Craig VerColen
VerColen Communications
craig@vercolen.com
617-599-2180
Alex Coté
Cortera
857-403-1370
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