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The deal will result in an expanded base of over 200 full-time employees and over 500 clients nationwide.
Horgan served on more than 20 corporate boards.
Third-generation construction industry professional Cliff Fetner solved a problem that bedeviled his work.
"The equity investors have become a lot more conservative," said Entrepreneurship Foundation President Mike Roer.
Business advocates and investors say there is a renewed interest across the greater New York region in funding startups that struggled in the wake of the recession.