(Updated 10/26/19) MarginEdge, a Merrifield-based restaurant software startup, has raised millions of dollars in a recent funding round.
The company recently raised $5 million in Series A funding — bringing their total funding to $10.4 million, according to a press release.
“Osage Venture Partners led the round, with participation from In Good Company… and other restaurant owner investors,” the press release said.
Headquartered at 8315 Lee Hwy, MarginEdge processes invoices for restaurants. Restaurant employees send pictures of receipts and invoices to the company, which then processes them and connects the restaurant to point of sales partners.
“We’re excited to see this approach resonating, with a dozen of our clients investing in the company and a 12-month customer retention rate of 94%,” the company’s CEO Bo Davis said.
The company said in the press release that it plans to use the money to expand geographically and add new partnerships.
MarginEdge also recently signed its 1,000th restaurant, according to the press release.
Some of the restaurants the company works with include District Taco, Chef Geoff’s, South Block and Hank’s Oyster Bar.
“MarginEdge allowed our team to go from being an accounting department to being more of a finance department,” Javier Retamar, the chief financial officer of Maple Street Biscuits, said. “Now, it’s not just about inputting things after the fact; we have the time and tools to analyze.”
Photo via MarginEdge/Facebook
The Town of Vienna has now received the funding it needs for a $2 million stream restoration project.
The Board of Supervisors approved giving a little more than $1 million for the project to the town at its meeting yesterday (Tuesday).
“The project will restore approximately 1,900 linear feet of [the] stream on Bear Branch Tributary, providing nutrient reduction and improved water quality in the Accotink Creek watershed,” according to county documents.
Earlier this year, the Town of Vienna received a grant from the Department of Environmental Quality that will cover roughly half of the design and construction costs.
About half of the Bear Branch Tributary, which is apart of the Accotink Creek watershed, is located in the Town of Vienna.
The Accotink Creek Watershed Management Plan rates the Bear Branch Tributary’s condition as “very poor” and calls for a series of restoration projects, starting with retrofitting the stream channel on the upstream side of I-66 at Southside Park.
“The channel is over-widened with moderate to severe erosion along the stream banks,” according to the plan. “Restoration would include reducing the channel dimensions, raising the bed elevation and installing grade controls.”
After work is done on that portion, the plan calls for work on the stream from Hunter Road to Route 50 to stabilize the stormwater outfall structures and regrading eroded stream banks.
“Partnering with the town on this project will save the county the time and administrative costs that would be incurred if the county were to implement the project under its stormwater program,” according to county documents.
Image via Google Maps
Damage from flash flooding that hit Fairfax County earlier this month will require millions of dollars for necessary repairs.
Seamus Mooney, the director of the Office of Emergency Management, gave the Fairfax County Board of Supervisors today (Tuesday)Â an update on the damage assessment nearly a month after the region experienced about one month’s worth of rain during a couple of hours on the morning of July 8.
Fairfax County retroactively declared a local emergency about a week later to seek federal disaster aid. (The board voted to terminate the local emergency today.)
After giving an overview of the “catastrophic rain event,” Mooney broke down the estimates for how much repairing the damage will cost.
Kirby Road Facing $4 Million RepairsÂ
Mooney said that some people were landlocked when severe weather damage closed the 1300 block of Kirby Road. Another McLean road — Swinks Mill Road — suffered extreme damage.
The Virginia Department of Transportation told Tysons Reporter that both roads are facing months of repair work.
Mooney said that the Virginia Department of Transportation recorded about $4 million of the $6 million recorded road damage was just at Kirby Road. Because the roads are funded through state highway funds, Mooney said that they are not eligible for aid from the Federal Emergency Management Agency.
Dranesville District Supervisor John Foust called for proactive measures to ensure that the road improvements speed up.
“As a county, we need to put pressure on VDOT,” Foust said. “They’re telling us it’s going to be months [for Kirby Road]. That’s not acceptable.”
Storm’s Impact on Residents and BusinessesÂ
As for residents and businesses, Mooney said that the 277 entries in the county’s Disaster Damage Database as of yesterday (Monday) total about $6.8 million for a “significant amount of damage.”
Money said that state and federal programs can provide individual assistance — Fairfax County is currently waiting to hear back about
Mooney said Fairfax County has been working with surrounding jurisdictions including Arlington on damage assessments to determine eligibility for the U.S. Small Business Administration (SBA), which gives loans to disaster victims.
Since Arlington exceeded the 25 damaged properties requirement, Mooney said that Fairfax County should expect to hear from SBA by this week or next week. “[It’s] contiguous — if one gets it, we all get it,” Mooney said.
Fairfax County has chosen the Tysons Pimmit Regional Library as the location for a Disaster Loan Outreach Center and has the space reserved starting next week.
“As soon as we get the notice we can work with OPA and get it open for residents,” Mooney said, adding that residents will have up to six months to fill out the applications if they want a loan.
“Could Have Done More”
While the Board of Supervisors praised the quick response by emergency personnel, several board members — especially Foust — voiced frustration about preventing future damage of this magnitude.
Foust said that the county “could have done more” to prepare, including:
- investing in infrastructure that protects people’s homes
- pressuring VDOT to prioritize local road improvements
- having packages prepared in advance for residents with information on emergency and disaster next steps
- strengthening “grossly inadequate” stormwater management requirements
- focusing on tree preservation
“It’s been difficult on a lot of people, and we have to step up,” Foust said.
The board also voted today to designate September of Emergency Preparedness Awareness Month.
“It doesn’t take much for someone to have a very bad day,” Mooney said, adding that the designation might “make sure people become more resilient to these types of events.”
Additionally, Mooney said that the county is utilizing social media, Fairfax Alerts and other avenues to share information with residents, adding that the county also added people who entered their information into the Disaster Damage Database to Fairfax Alerts.
“Of note, between July 8-12, we sent out 1o2 storm-related tweets and Facebook posts,” he said. “We’ve been using that to make sure anyone who has submitted information, that we’ve been sending them updates as it’s available as well,” he said.
First photo via @SteveML9022/Twitter
With just a few hours left in polling, Tysons-area polls have shown a slow but steady increase in voting throughout the day, particularly in Hunter Mill.
Competitive primaries are underway for the Democratic endorsement for the Providence District, Hunter Mill District, and chairman seats on the Fairfax County Board of Supervisors.
The voter turnout so far in the Providence District is 6.29 percent. The Hunter Mill District, which includes Vienna, is 7.3 percent and is the highest of any district in Fairfax. The Fairfax County average turnout is 5.36 percent.
This year’s primary, particularly the race for the chariman’s seat, has been particularly divisive. One candidate faced an ethics complaint filed by a rival while the Washington Post endorsement raised concerns about sexism.
It’s also been an expensive primary. Every candidate for the Democratic nomination to the chair position has raised over $100,000, with developer Tim Chapman raising $952,109 — mostly through funds Chapman gave to his own campaign. In Hunter Mill, candidate Maggie Parker sits at $258,225 fundraised, in large part with support from Comstock Companies. Two Providence candidates — Phillip Niedzielski-Eichner and Dalia Palchik — neared the $100,000 fundraising mark
If you’re a Fairfax County voter you have a chance to choose the next Chair of your County Board, some new supervisors & new school board members, and also choose between incumbents for Commonwealth’s Attorney, State Senate and State House or their challengers. Just Vote! pic.twitter.com/AA9rFVAgeA
— Mark L. Keam (@MarkKeam) June 11, 2019
At Bonnie Brae polling place. Super weather for Primary Vote today. pic.twitter.com/u7YOMS2Qif
— Sharon Bulova (@SharonBulova) June 11, 2019
The Democratic candidates for the Board of Supervisors are:
Board of Supervisors chair:
Providence District:
Hunter Mill District:
Tysons-area voters will also determine the Democratic nominees for two Virginia Senate seats and the Commonwealth’s Attorney.
Any registered voter can participate in the primaries. Polls are open until 7 p.m.
The polls are now open until 7 p.m. for today's primary election. While it's a Democratic primary, every registered voter can participate because in Virginia you don't register to vote by political party. #vote #votejune11 pic.twitter.com/b93Vqw9fPm
— Fairfax County Votes (@fairfaxvotes) June 11, 2019
Fairfax County’s Board of Supervisors greenlighted funding for new streets and highway improvement projects in the Tysons area.
In total, the county’s board approved $55 million for transportation projects in Tysons and Reston today (June 4), with more than $51 million for Tysons-area roads.Â
The greenlighted funding includes:
- $17.5 million: I-66 widening at Route 29
- $16.6 million: State Street land acquisition
- $7 million: land acquisition for Leesburg Pike widening
- $759,000: pedestrian improvements along Lee Highway
The board also approved funding for preliminary engineering and feasibility studies:
- $7 million: Lincoln Street extension
- $1.5 million: Broad Street
- $1 million: Greensboro ramp to Dulles Toll Road
- $500,000: Tysons West Park Transit Center ramp to Dulles Toll Road
I-66 median widening at Route 29
Fairfax County originally approved endorsement of the I-66 median widening in March 2017. The cost estimate for the project, however, increased by $17,500,000 “due to [the] complexity of construction (e.g. shutting down lanes to install the center pier, number of detours, which creates a larger project footprint),” according to the county staff report.
Lee Highway pedestrian improvements
The street improvements would span Nutley Street to Vaden Drive by the Vienna/Fairfax-GMU Metro station, completing missing portions of bike and pedestrian areas. “This project will allow more commuters to make trips by biking, walking, and transit instead of driving, which will improve mobility not only on I-66, but also on the parallel facilities of Lee Highway and Route 50,” the staff report says.
Land acquisition for Leesburg Pike wideningÂ
Fairfax County staff want the $7 million for a partial land acquisition between I-495 and I-66 once the design work is done. After deciding to replace an existing gas line along Leesburg Pike, the Fairfax County Department of Transportation has been studying right-of-way and road alignment needs for this section of the highway that runs along the southern edge of Pimmit Hills.
Land acquisition for State Street
Envisioned in the future Tysons Grid of Streets, State Street would connect Greensboro Drive to Route 7 between Spring Hill Road and Westpark Drive.
Currently, the desired, vacant property is for sale, according to the staff report. “If the property is sold to another party and the existing building encumbered with a long-term lease, the cost of acquiring the property will increase significantly, and may become prohibitive,” the report says.
Preliminary engineering and feasibility studies
The Greensboro and Tysons West Park Transit Center ramps to the Dulles Toll Road are two of the three planned ramps that will provide a connection between downtown Tysons to the highway.
Meanwhile, Lincoln Street would connect Old Meadow Road to Magarity Road in Pimmit Hills. The new, two-lane road is meant to provide more access for residents.
Another new road — Broad Street — would run parallel to Route 7, providing access between Spring Hill and Tyco roads and offering an alternative to using Route 7.
The board also approved $3 million for construction to widen Telegraph Road at Hayfield Road in Alexandria and $500,000 for preliminary engineering and feasibility studies on improving the intersection of Reston Parkway and Baron Cameron Avenue.Â
The funding adjustments from the Tysons and Reston Transportation Service Districts and the Tysons Grid of Streets Road Fund will be made as part of the carryover review for fiscal year 2019, according to a staff report.
Local Startup Raises $30 Million — “Fairfax-based real estate data and analytics company Remine,” which has offices in Tysons and Dunn Loring, “has closed a $30 million Series A funding round, bringing its total amount raised to $48 million.” [Washington Business Journal]
Officials Hold Meeting on E-Bikes — “The recent popularity [of] e-bikes and the fact they are not allowed on trails in Fairfax County and NOVA Parks prompted NOVA Parks and Fairfax County Park Authority to take steps to understand the issues and then share facts with the public and listen to their comments.” [McLean Connection]
Fairfax Home Market Flat to Start Year — “A modest increase in sales was offset by slightly lower average sales price in the January home-sales report for Fairfax County. And as a result, the total sales volume for the month stood relatively unchanged as the local market began to segue from winter to spring.” [InsideNova]
Falls Church Seeking BZA Member — The Falls Church Board of Zoning Appeals is looking to fill a vacancy for the position of Alternate Member. [City of Falls Church]
Developer Buys NADA HQ — “The Meridian Group has acquired the NADA headquarters building and an adjacent development site, adding to its growing Boro District near the Greensboro Metro station in Tysons.” [Washington Business Journal]
Police Expanding Dressing Room Filming Case — Fairfax County Police have added Fair Lakes Promenade and Springfield Town Center to the list of shopping centers where they think 39-year-old Mumtaz Rauf secretly filmed women in the dressing room of stores like Forever 21, Gap, H&M, and Old Navy. Rauf was already suspected of filming at Fair Oaks Mall and Tysons Corner Center. [FCPD]
Park Fees May Increase — “Fees for using the Fairfax County Park Authority’s RECenters, gardens, historic sites, rental facilities and trails would increase under a slate of fee changes proposed by agency officials. The fee package would bring in an estimated $656,000 more revenue, officials said.” [InsideNova]
Tysons Startup Moving to California — “Tysons personal data startup Kork… recently got a $5 million term sheet from a New York-based private equity firm for its Series A round that values the company at $15 million… But the growth has also led to another big moment — Kork plans to move to California in the coming months, according to CEO and co-founder Robert Wensley. ‘We tried really hard to raise money here in D.C. but it’s impossible unless you are cybersecurity of some sort,’ Wensley said.” [Washington Business Journal]
Tysons Startup Raises $10 Million — “McLean-based Verato Inc., which provides cloud technology to consolidate medical records, has raised $10 million in Series C financing… Verato has already outgrown its 6,000-square-foot headquarters, so it plans to move in July to another Tysons space totaling 12,000 to 14,000 square feet.” [Washington Business Journal]
Fairfax County Schools Closed — Due to this morning’s snow and treacherous road conditions, Fairfax County Public Schools are closed for the day. [Twitter]
Fairfax Home Prices Flat — “Home sales were down slightly while average sales prices were flat in October across Fairfax County, according to new data…Â While sales were down, prices were effectively unchanged, with the overall sales price of $552,034 down one-third of a percentage point.” [InsideNova]
McLean Mansion for Sale — “It’s enough to appreciate the stunning architecture of this contemporary McLean home. Yet it goes above and beyond with its own sculpture garden.” [Patch]
Tysons Company Raises $100 Million — Tysons-based PFF, LLC has “closed a $100M capital raise and changed its name to Parabilis. Founded in 2013, by Dr. Edward Bersoff, the specialty financing company will continue in its mission to provide working capital funding to companies serving the U.S. Federal Government.” [BusinessWire]
