Power Moves is a recurring series where we chart the comings and goings of talent across the region. Got a new hire, gig or promotion? Email us at [email protected].

A longtime workforce development leader is leaving his post to start a new wealth-building venture. 

Matt Bergheiser, president of the University City District, announced plans last month to leave the org and launch a new company. Bergheiser’s startup will purchase smaller clean energy companies and give the employees an ownership stake in the portfolio. 

Companies from other parts of the country are also building a presence in the region. Data monetization startup Datavault AI relocated its headquarters to Philly and is doubling down on the local workforce. 

Plus, local institutions are working to build up the future tech workforce. Penn Engineering announced a new program to help local high school students interested in STEM fields stand out 

Keep reading to get all the details and see more power moves. 

UCD president leaves to start worker-owner venture

After leading West Philly business development org UCD for 16 years, Matt Bergheiser now wants to approach wealth building in the Philly region from the perspective of a private company.

His new startup Celsius will facilitate an employee stock ownership plan, letting the original owner eventually hand the business over to employees instead of selling it to a third party, Bergheiser told Technical.ly.

So far, he’s already bought an HVAC contractor and an electrical contractor, with plans to add eight to 10 more companies, he said. Once the holding company makes its third or fourth purchase, shares will start to be given to employees.

The main benefit of this model is that it lets employees share in the financial success of the business, Bergheiser said. 

“Philadelphia can be this area where we build wealth for the local workforce by working on the kind of economy that is most needed in our society,” Bergheiser said. 

During his time at UCD, he was most interested in the group’s economic and workforce development work, like job training programs and mission-driven business projects, he said. 

“I always had this vision that I would do that work long term,” Bergheiser said. “Spin that out and do it through a for-profit venture.”  

Datavault AI plans to add 100+ local employees

Datavault AI, a company that helps businesses make money from their data, opened a new office in Center City after announcing plans to relocate its headquarters from Oregon to Philadelphia last fall. 

It’s already hired 40 new employees locally and plans to add another 80 this year, CEO Nathaniel Bradley told Technical.ly. 

Bradley chose to move the headquarters for personal reasons, he said. However, the region was also attractive because of the talent pool from local universities and proximity to other tech hubs, he said. 

The company also has a strong presence in Chicago and Atlanta, but the plan is to eventually have most of the company’s workforce based in the Philly region, he said. Right now, Datavault has about 200 employees. 

“We’re putting a major emphasis on people coming to our headquarters and working every day,” Bradley said. 

Penn Engineering launches STEM Education program for Philly teens 

Last month, Penn Engineering launched the Glassman Penn Scholars program to support local high school seniors as they prepare for college. 

Participating students will take courses in math, physics, AI and computer science, and will also receive mentorship and support throughout the college application process.

The goal is to offer an alternative program for students attending public schools that don’t offer AP-level courses in those subjects, Chanda Jefferson, director of community engagement and outreach at Penn Engineering, told Technical.ly. 

“Some schools don’t have access to some of the coursework or the classes that students might need to enter into highly competitive institutions,” she said. “Having programs like these make their applications more favorable for highly competitive institutions that offer these STEM-focused careers.” 

The program will run for five weeks over the summer and admit 15 to 25 students, Jefferson said. As of the end of February, the program already had over 40 applicants. 

Startup power moves:

The University City Science Center welcomed the 10th cohort of its Capital Readiness Program to Philadelphia earlier this month. The latest cohort included six Philly-area startups, including AltruMed, HeyKiddo, Innovations Unlimited, Moberg Analytics, Diagnostics Your Way and Wide Therapy. 

BleedIO Tech, which builds software that helps devices connect and share information, won Best in Show at PACT’s Demo Pit, an annual pitch competition at the org’s Phorum conference. 

GoPuff ranked No. 13 on Green Flag Digital’s Tech 100 list, which measures companies based on money raised, online traffic and how often it’s being searched. 

Former White House advisor Stephen Billy joined ZE Government Solutions, a subsidiary of weapon detection company ZeroEyes, as director of federal strategy. 

Circular economy startup Circa Systems launched its platform CircaOS. The tool helps resale businesses manage operations. 

Interview prep startup Prepin released its coding interview product. The tool helps job seekers practice technical interviews with an AI interviewer. 

Digital pathology company Proscia won the Global Best in KLAS for Digital Pathology Award in Europe from KLAS Research for its platform Concentrique. 

Leadership power moves:

Healthcare data analytics company HealthVerity made two recent leadership changes. Adam Greenfield was promoted from vice president of infrastructure to CTO and Heather Altieri joined the company as senior vice president of people. 

Life sciences firm Kymanox appointed Evan Edwards as its new CEO and Nicholas Ciccarelli as COO. The company’s design and testing lab is based in King of Prussia. 

Bonnie Levitt is the new senior vice president and chief human resources officer at Exton-based Citadel Credit Union. 

Local life science executive James Lovett re-joined the Wistar Institute’s Board of Trustees. 

Other power moves:

Fernanda Sesto left her role as an analyst for Unshackled Ventures, a VC firm focused on supporting immigrant founders. Sesto is now a project lead at non-profit Transform Finance. 

Aegis Software, a Horsham, Pennsylvania-based manufacturing software company, acquired digital twin software company Simio. 

The Gift of Life Institute, a training center for organ and tissue donation professionals, launched a digital reference guide called DonorPedia. The tool centralizes learning materials into one place. 

Global financial services company SEI announced a partnership with IBM to evaluate how the company can integrate AI into its processes. 

Two local higher education institutions recently announced cybersecurity degree programs. Penn Engineering launched a master’s program in software systems and cybersecurity. Arcadia University added a bachelor’s program in the subject. 

AI education org Praxtera AI Institute won the Platinum Pinnacle Award for Artificial Intelligence: Training and Infrastructure of the Year.