David Lemoine, three-term state treasurer for Maine and a three-term state representative, now leads the Finance & Revenue Solutions division of Avenu Insights & Analytics (Avenu).
Lemoine oversees the company's initiatives under which state residents claim lost property. Avenu's software and services help states gather, track and manage unclaimed property, then return the property to the rightful owners.
"More than $3 billion in unclaimed property was returned to citizens in 2015 as a result of state administrative diligence," says Lemoine, "and states need support to manage the reporting, custody, claims verification and payment processes. Avenu's workflow, search capability and paperless claims process have the right level of automation and simplicity. And the same is true for Avenu's escheatment solutions, which enable corporate holders of unclaimed property to comply with the unclaimed property laws of each state in which they do business.
Avenu manages more than 100,000 unclaimed property inquires each year through sites such as MissingMoney.com, the only unclaimed property website endorsed by the National Association of Unclaimed Property Administrators.
Comments Avenu CEO Paul Colangelo, "David's perspective as a state treasurer helps clients understand that unclaimed property doesn't have to be the burden it once was. This will become a growth vehicle for Avenu."
About Avenu Insights & Analytics
Since 1978, Avenu Insights & Analytics has helped state and local governments adapt to the changing needs for information management and their impact on service delivery. Avenu's revenue enhancement and administration solutions enable jurisdictions to provide truly digital government that meets expectations of citizens, employees and elected officials. This approach results in more predictable revenue and cost, and allows governments to sustain a high quality of life.
About Mill Point Capital
Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with executive partners to leverage its investment professionals' experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY.
