Source: Teknovation.biz | Tom Ballard | November 30, 2021
Roughly two and one-half years after teaming-up to drive growth at C2 Labs, a digital transformation services company, Anil Karmel and Travis Howerton announced yesterday that they are spinning out the product development component and its inaugural product named Atlasity into a new company.
Named RegScale, the new venture is focused on delivering continuous compliance automation for highly regulated public and private sector entities, and the two Co-Founders are focusing their full attention on the new venture. Karmel, who is based in Washington, DC, will serve as Chief Executive Officer, while Howerton will serve as Chief Technology Officer leading the R&D team in the Innovation North Building at the University of Tennessee Research Park.
Craig Thomas, a former Chief Information Security Officer at the Y-12 National Security Complex in Oak Ridge and the Pantex Plant in Amarillo, TX, assumes the role of President of C2 Labs. He joined the company in October 2018.
Concurrent with yesterday’s announcement of the spinout was a second one that celebrated a $1.5 million early funding round with participation from Virginia Innovation Partnership Corporation (formerly the Center for Innovative Technology), New Dominion Angels, and several strategic investors, along with significant customer traction. (EDITOR’S NOTE: Ironically, also in today’s edition at this link is the announcement of the rebranding of the Center for Innovative Technology.)