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Rogers & Cowan CEO Tom Tardio Appointed Chairman of the Board of Socialtext

Entertainment, Digital and Consumer Marketing Innovator Brings More Than 25 Years of Executive Leadership Experience to Growing Enterprise Social Networking Company

March 30, 2015, Waltham, Massachusetts

Socialtext, a leading enterprise social software provider, today announced business strategist and marketing communications luminary Tom Tardio has been appointed Chairman of the Board. Mr. Tardio, currently CEO of marketing and public relations powerhouse Rogers & Cowan, will assume the position in mid-July 2015, following a successful 27 year tenure that propelled the brand through talent acquisition and amassed one of the strongest reputations in the industry in the converging fields of technology, entertainment and consumer marketing.

Mr. Tardio also serves on the Board of Directors at PeopleFluent, a leading human capital management company. Both organizations are owned by Bedford Funding, a private equity firm that specializes in providing long-term capital to business in the software and IT services sector. The combined technologies of PeopleFluent and Socialtext deliver powerful collaboration capabilities that improve employee engagement and increase productivity, while enabling more strategic decision-making that drives better business outcomes.

“It is an honor to take on the Chairman of the Board role of an organization that has consistently built innovative and visionary collaborative learning products in a very competitive marketplace,” stated Tom Tardio. “Socialtext continues to uniquely recognize and capitalize on the growth of employee adoption of socialization tools, and build customized integration options for clients to maximize employee productivity that results in a culture of shared learning. I look forward to working closely with Stephen Turner, Socialtext’s recently appointed Senior Vice President & General Manager, and his entire staff to continue to successfully transform and grow the business.”

Socialtext has been designed from the ground up to enhance collaboration across groups and teams, connect in real-time with customers to boost customer satisfaction, and support the sharing of best practices and the most relevant content resources. More than 6,500 businesses worldwide use Socialtext to enhance their performance, including Getty Images, McKesson, Symantec, Ogilvy & Mather, NYU Stern School of Business, The Hanover Insurance Group, OSIsoft, South Australia Department of the Premier and Cabinet, Hewlett-Packard, Blue Man Group, Weight Watchers, NetSuite and Epitaph Records to name a few.

“Socialtext continues to expand its insight and leadership acumen with global business management, technology and consumer marketing expertise. Our investments have resulted in an impressive suite of offerings and built strong momentum for our business,” said Charles Jones, Managing Partner of Bedford Funding. “Tom's proven ability to transform and grow businesses, combined with his nuanced perspective of content creation and brand messaging alignment will help propel Socialtext in their mission to provide contemporary knowledge sharing solutions across a variety of industries.”

During his tenure at Rogers & Cowan, Mr. Tardio also served as the President of Global Entertainment & Sports Marketing at Weber Shandwick Worldwide, Inc. Mr. Tardio played an instrumental role in providing senior strategic counsel to brands such as Rdio, Microsoft, Myspace, Avon, Coca-Cola, Kraft, Nabisco, BMW and Texas Instruments, among others. Prior to Rogers & Cowan, he played a significant role in the development of strategic plans for Columbia Pictures that resulted in the acquisition of new entertainment business ventures and co-financing arrangements with the Wall Street community. During his tenure with Columbia, he served in various capacities in its motion picture, television, corporate finance and operational areas. Additionally, Tom Tardio serves as a member of the Board of Trustees for the Entertainment Industry Council and was a prior member of the IBM Mobile Advisory and Mobile Computing Marketing Advisory Board.

About Socialtext

Established in 2002, Socialtext, a Bedford Funding portfolio company, was the first company to deliver social software to businesses. By unlocking knowledge, expertise, ideas and data, Socialtext eliminates information silos across the enterprise to drive superior business performance. Socialtext's enterprise social networking products — including microblogging, blogs, wikis, profiles and social spreadsheets — provide simpler ways for employees to share vital information and work together in real-time. Delivered in a variety of hosted cloud services, as well as on-site appliances, enterprise customers are provided with flexible deployment options that meet their security requirements. Built on a flexible, web-oriented architecture, Socialtext integrates with virtually any traditional system of record, such as CRM and ERP, enabling companies to discuss, collaborate, and take action on key business processes. More than 6,500 businesses worldwide have accelerated their business performance with Socialtext, including Getty Images, Symantec, Meredith Corporation, NYU Stern, OSIsoft, and Epitaph Records. To learn more, visit http://www.socialtext.com.

About Bedford Funding

Bedford Funding, a private equity firm with over $1.4 billion in capital under management, specializes in providing long-term capital to businesses in the consolidating and fragmented technology industry with experienced industry focus in the software and IT services sector. Bedford’s team has extensive operating backgrounds providing a keen understanding of the opportunities inherent in technology enterprises. Bedford Funding was founded in 2006 with the launch of its initial fund—Bedford Funding I—and raised Bedford Funding II in December 2011. Bedford Funding makes investments worldwide from its headquarters in White Plains, New York. For more information, please visit the company’s website at www.bedfordfunding.com.

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