With a new moniker, Tulsa tech sleuth eyes expansion
08-12-2008, The Journal Record - Heather Caliendo
http://www.journalrecord.com/article.cfm?recid=91267
TULSA – Gavin Manes said it is popular in the scientific community to make up a word. That logic and looking for a new way to market his company motivated Manes to change the company’s name.

Digital Forensics Professionals Inc., the Tulsa-based provider of computer investigative services, has changed its name to Avansic.

Manes, president and CEO of Avansic, said a market study conducted in the spring helped bring ideas for a name change. He estimates the cost has been $10,000 to $15,000 to undergo the name change.

“This really gives us something to stand out on, plus we are growing with these new opportunities and new markets, and we got to establish the market, the brand and define what the products are,” he said.

The name change follows a recent announcement that Avansic secured a $1 million investment from Mimosa Tree Capital Partners. The investment will help launch the company into several cities across the country.

Manes said in some areas the company won’t have any competitors, paving the way for Avansic to become distinct.

“We get to go in and make the market, define the product and define how they are sold and establish our own price,” he said. “When we move into these markets we will bring the work back to Oklahoma.”

Avansic services provide procedures to investigate, monitor and retrieve information from electronic devices. Generally, Avansic’s main client base is in the legal field, and Manes said the market study showed side opportunities for corporations and small businesses.

The words “Digital Forensics Professionals” still appear on the company’s new logo. Manes said downplaying the name Digital Forensics leads the company into the electronic discovery market while still offering the same digital forensics services.
Manes said the two services conduct similar tasks in the legal industry, but there are intricate details that separate them.

Manes also announced the company is adding a board of directors. He said the board is a concept the company has needed for a while.

“We have always been a corporation and operate like a corporation, and when you take other people’s money – like the million-dollar investment – you have a fiscal responsibility to run your company in a certain way,” he said.

The board consists of four members, and Manes said it has matured the company and is looking into its five-year plan. Avansic has seen triple-digit growth for two years in a row.

“Our commitment to our board of directors is to grow our company’s bottom-line revenue to a target goal – the board of directors will hold me to it,” he said.

Joel Kantor and his partner Vincent LoVoi supplied the $1 million to Avansic and are members of the board. Kantor said they invested in the company specifically because of Manes.

“I find his enthusiasm contagious – there are no better traits to have when you grow a business,” he said. “You need to know this person will hire qualified help and he recognizes integrity.”

Kantor said he sees major growth opportunity ahead for Avansic outside the state and in Tulsa. He said this will result in more jobs in Tulsa.

Right now, Avansic has about nine employees, with several interns. By participating in the Oklahoma Quality Jobs Program, Manes said the forecast of the company is to have 50 full-time employees next year.

“We are growing at a rapid pace, not only growing in revenue dollar but the number of cases of clients and the geographical location of these clients,” he said. “We see a lot of repeat business.”