Progress Partners

Investment Banking

Progress Partners is a boutique investment firm based in Boston and New York City providing financial advisory services to companies in media, marketing, advertising, and software.

David Arslanian

David started as an Executive in Residence at Progress Partners in September 2017. Prior to joining at Progress, David was formerly the Vice President of Corporate Development and Strategic Partnerships at Tremor Video (now Telaria). He is a seasoned entrepreneur with over two decades of experience in technology and finance. 

Prior to Tremor Video, he was the co-founder and President of AppliedQ, an advertising technology firm that develops integrated solutions in video advertising for the cable industry. Before Tremor, he served as Vice President of Strategy and Integration at Pointroll, a leading firm in digital advertising. He came to Pointroll as part of the Rovion acquisition where he was the President and Chief Operating Officer. Prior to making the leap to advertising, he was the co-founder and Chief Operating Officer of Inanovate, Inc., a nano-technology company, specializing in advanced longitudinal assays used to detect diseases (most notably prostate and ovarian cancer). David currently sits on the board of directors for Inanovate and InnRoads, a software developer for hotel management.

David received his B.A. in Economics from the University of Massachusetts Boston and earned his MBA from Babson College in 2006 with a concentration in Global Strategic Management where he was the recipient of the Roger W. Babson award for outstanding leadership.

He currently lives in Belmont, Massachusetts with his wife Anna and son’s Isaac and Jacob.  When he’s not working you can find David in his back yard, playing superhero with his son and watching the Red Sox.



(617) 212-2961

Michael Collette

Michael Collette is a highly experienced startup CEO and media technology expert.  Most recently he was the CEO of Cognitive Networks. Mr. Collette joined as employee #4 in 2012, raised two rounds of financing, scaled Cognitive to become the market leading pioneer of automatic content recognition for Smart TVs and built a business licensing high performance, granular TV viewing data. Cognitive was sold to VIZIO in 2015. 

Mr. Collette served as General Manager with VIZIO for 1 year, growing data revenues 10x year over year. Mr. Collette has been working at the innovation seam of media and communications for many years. He has a proven ability to evangelize new media technology.  

Beginning with early work on the digital transition for U.S. cable, Mr. Collette has played a pioneering role in broadband media, interactive television, multiroom DVR, hybrid TV and advanced advertising. He was previously the CEO of uCentric Systems and PhyFlex Networks, and prior to that, SVP of Marketing for OpenTV. As a strategy consultant, he has provided services to more than 50 companies such as Google TV, Cisco Systems, Samsung and Philips as well as long list of startups.

Michael Darviche

Michael Darviche heads Bridge22, a 5 person growth consulting firm in NYC, serving companies and investors in digital/data. He works for Brands, Agencies, Digital, and Platform companies, and for growth Private Equity, and their portfolio cos.

Mike is formerly a venture CEO, group GM, Chief Marketing & Chief Digital, leading Transformation, Product, Partnership, M&A at Acxiom, Marsh, Citi and Amex, specifically leading game-changing digital-data businesses for the CEO and Board.
Deep Domain Knowledge Areas:

  • Multichannel, Digital Media, Audiences, Consumer Engagement, Monitoring, Personalization,
  • Vast on-line, local & off-line Data, User IDs, Analytics, Targeting, Measurement, Privacy, Database Marketing,
  • Retail, Commerce, Mobile, Payments, SaaS Platforms, Adtech, Martech, Fintech
  • Strategies in Business models, Revenue models, Industry players.

Previous Career Roles:

  • Acxiom, Global CMO + chief strategy + M&A (NASDAQ) – Led the board and $1BB data company pivot to digital model
  • Marsh Inc., Global Chief Digital (NASDAQ) – Built a 400 person global digital and transactions platform for Insurance
  • Citigroup, CRO/CMO/BD – Led and launched Citi’s global commercial data business
  • American Express/CZI – GM of Small Business Card acquisition sbu; Led private label leads platform for Merchants;
  • Bigfoot Interactive, GM/founder – Built industry’s first email platform; Acquired by Epsilon

Board/advisory roles: IgnitionOne (DMP), Nexage(Millenial/AOL) (mobile ads), DataXu (DSP), BlueCava (SaaS, online/offline data), Covario (Search), Signal (Data Management), NetworkedInsights (Social DSP), Ansira/KRG PE (Retail Agency), as well as served on multiple children’s education Boards and was a startup contributor to CitiYear.

Mike began his career with Bain & Co, and graduated from Tufts University and Harvard Business School.

Lloyd Mahaffey

C. Lloyd Mahaffey, with more than 35 years of success, is a seasoned Chief Executive Officer, technology market sector executive, Sarbanes-Oxley qualified board director, pilot, sailor, fly fisherman, inventor, fundraiser, and author.

His experiences include key executive roles in the C-Suite, marketing, corporate development, hardware and software development, cloud-based services, business development, operations, and support. Market sector expertise includes Computer Technology, Enterprise Software, Fin-Tech, Mar-Tech, Auto-Tech, Healthcare Tech, Payment Systems, and Cybersecurity. Operating experience and business relationships include North America, the Caribbean, South America, Europe, the Middle East, China, and India.

Mr. Mahaffey has successfully completed more than $1.2 billion USD in public market transactions and more than $430M USD in venture-backed private equity transactions. His career includes a Managing Partner role with Redleaf Ventures, a $300M venture capital firm based in in Silicon Valley, devoting his talents to developing, funding and cultivating early-stage business-to-business technology companies.

Prior to joining Redleaf, Mr. Mahaffey was the senior vice president and chief operating officer at VeriFone, where he was responsible for its consumer and internet initiatives. He also led the team that negotiated the $1.2 billion acquisition of VeriFone by Hewlett Packard. He was also responsible for VeriFone’s investments in CyberCash, WebTV, and, most notably, VeriSign.

Mr. Mahaffey honed his product, marketing and sales acumen as a key executive during the formative years of Apple Computer. While at Apple, he was responsible for the development of Apple’s highly regarded US Education Group and Federal Systems Group business segments worldwide. During his tenure, he grew the company’s Education business unit from $300 million to $1.3 billion.

He currently serves as the Founder and Executive Chairman of Windancer Technologies, based in Silicon Valley, that deploys, upgrades, and optimizes electronic healthcare records software and cybersecurity solutions for US healthcare systems. He is also a Board Director and President of SmartStory Technologies; a global provider of next generation customer engagement solutions.

Mr. Mahaffey recently joined Progress Partners; a boutique investment bank with offices in New York and Boston, as a Venture Partner. An avid commercial-instrument pilot, sailor, fly fisherman and squash player, Mr. Mahaffey is a member of the prestigious St. Francis Yacht Club in San Francisco.  Mr. Mahaffey received a B.A. with Honors from The Citadel and attended Stanford University Graduate School of Business Technology Executive Program.  

Chris Monteleone

Chris Monteleone is a senior executive with a career that spans Technology, Media, Sports and Entertainment.  He has founded two start-up companies, and worked in many capacities inside major companies.  Chris’ hands on experience includes: major live events, film studios, TV networks, digital media, print media, radio media, sponsorship sales, media sales, Major Leagues (NHL, NBA), multi-channel distribution, wireless distribution, ISP’s, consumer electronics, ad tech and Over-the-top distribution. 

As a senior executive, he has held positions at Cablevision, Comcast/NBC, Sony Television, AMC Networks, Madison Square Garden, iHeartMedia and Digital Remedy (a digital media agency).  He was the Co-Founder of Sweigh, Inc., a venture funded web commenting application and data management platform, which he sold to Digital Remedy in 2015.  Chris is also the Managing Partner of Torq Partners, a business strategy firm and accelerator which advises a multitude of companies from start-ups to established businesses, as well as board members and investors. Chris’ specific expertise includes strategic partnerships, product development, ad tech, sales, marketing, business development and business operations. 

Tom Morgan

Tom Morgan is a 35-year veteran of the world of interactive services and digital media. For the past 15 years Mr. Morgan’s efforts have centered on the business development of On-Demand and Internet based Television, with a particular focus on the new advertising models for DVR’s, VOD, and Broadband TV. Mr. Morgan’s to focus on the business development issues of Digital Television, especially the new program licensing and ad models required for the new world of IP based Television.

Principal, is Media Development Consultancy dedicated to the creation of new revenue streams and television functionality. Focus is development of better Advertising Monetization Models and new Enhanced TV feature sets for both live linear TV and new forms of commerce based TV Services.

Founder/CEO, Net2.TV Corp (January 2012 - January 2016) is a CloudTV Program packager and distribution company focusing on the “Free to Net” Ad Supported OTT Television Market. is the first OTT Distributor deploying the Active Video Network H5 System to Smart TV’s and other connected devices.

CEO, Virgin TV USA (October 2009 - December 2011)

Virgin TV USA, was a development initiative funded by Sir Richard Branson’s Virgin Management Group Ltd (VML). VTV USA was being developed as a Premium Over the Top (OTT) Television Service providing integrated Live Linear and On-Demand Television targeted at Smart TV’s, Tablets, and other connected devices. Tom recruited the initial team, lead the development of the Business Plan, and managed year long discussions with Major US Broadcast / Cable Networks, and select TV Studios. Mr. Morgan also identified and recruited a U.S. based strategic partner for the funding and launch of the proposed service. Relations between Virgin and strategic partner broke down in December 2011, causing VML to withdraw from supporting VTV in the U.S. Market.

Chief Strategy Officer, Move Networks (Jan 2008 – September 2009)

Move Networks was the technology platform behind,, ESPN360, and other Internet Television based sites. At Move, Mr. Morgan focused on the development of Internet Television revenue sources including new ad inventory and carriage models that allowed TV Networks reach economic parity of traditional TV.

Founder & CEO, BlackArrow Corporation (May 2004 – December 2007)

In 2004 Mr. Morgan founded BlackArrow Corporation, a leading provider of Advertising Management Services for Digital Television. BlackArrow is funded by Comcast Corporation, Cisco, Intel Corporation, and two major Venture funds. Mr. Morgan served as CEO and Board Member, and was responsible for the company’s groundbreaking vision of innovative advertising inventory and management solutions. During his tenure at BlackArrow Tom was responsible for the BlackArrow Corporate relationships with key distribution and programming partners

DiMA Group (April 2001 – May 2004)

Mr. Morgan was a Co-Founder of the DiMA Group, a Digital TV Consultancy and Research Firm targeting On Demand Cable Television. He was responsible for managing a cross industry initiative called the Innovation in Digital Advertising (ID!A) Project which explored the development of new business practices in the world of DVR & VOD based television.  Over 50 companies are represented in the project, including the major cable MSO’s, television and cable networks, and a group of large television advertisers and their agencies. The DiMA Group also operated AdLab, a consumer research project investigating consumer response to new forms of On-Demand TV ads. The DiMA Group was acquired by BlackArrow in 2004.


Previous Online Service Positions

Mr. Morgan’s early industry positions included serving as the first Vice President of Business Development and West Coast General Manager for America Online where he led the initial product launch in partnership with Apple Computer, and developed the first pricing strategies for AOL. Mr. Morgan was a founding Officer and EVP of Business Development for BroadVision. Tom’s work at BroadVision resulted in the company’s focus on systems based 1:1 marketing.

In 1995 Tom was recruited to serve as President of IDG Interactive Services, where he conducted early development work in the areas of innovative advertising, e-commerce and personalization systems. In 1997 Mr. Morgan led a spinout of a portion of his IDG division into a separate venture-funded organization called NVolve. NVolve was funded by Broderbund and the Mayfield Fund and focused on the issues of online youth. In 1999, NVolve was acquired by MTV/Nickelodeon where Tom served as West Coast VP/GM and worked on Kids’ Internet concept.

Tom O'Brien

Tom O’Brien is a proven strategic, innovative digital and television business leader who successfully operates at the nexus of digital, media and technology.  He successfully drives growth in both large and small-scale companies by developing customer-focused strategies, products, cultures, and business models in news/editorial, programming, digital, technology and revenue. 

A corporate officer of the Nexstar Media Group for nearly four years, Tom was recruited by the Chairman/CEO to become part of a four-person executive operating team that grew Nexstar from a $500MM to $2.5B+ revenue company.  As the Executive Vice President and Chief Revenue Officer, he was responsible for developing strategies and tactics to drive holistic revenue and audience growth across the company’s pure play digital and broadcast subsidiaries to accelerate Nexstar’s transformation into a next generation, multi-media company--which culminated with Nexstar’s $4.6B acquisition of Media General in 2017. Nexstar currently operates 171 TV stations, 110+ websites and close to 200 mobile apps in 100 markets, and four pure-play digital companies.

Initially joining Nexstar as Executive Vice President, Digital Media and Chief Revenue Officer in 2013, he was the operating business leader of Nexstar’s digital group.  Tom significantly expanded Nexstar’s digital portfolio by growing Nexstar’s local digital capabilities; in addition, to creating pure-play digital subsidiaries.  Under his leadership, digital revenues grew from $30MM to over $250MM, an 8-fold increase.  His responsibilities included managing Nexstar’s local digital business including content, product, technology, and sales for what grew to 100+ websites and close to 200 mobile apps; executive leadership of Nexstar's digital publishing technology company, video/ad technology companies and digital agency businesses; development and execution of the Nexstar’s digital M&A and multi-screen strategy; and catalyzing multi-platform audience and revenue development across the company.

Before joining Nexstar, O’Brien worked for over 14 years in senior leadership roles at NBC Universal with operating responsibility for both television and digital businesses. In his most recent role at NBC, he was recruited to be CNBC’s first EVP/Chief Revenue Officer, where he was responsible for transforming the revenue strategy to fully monetize this global, multi-platform brand by expanding their digital capabilities and diversifying revenues.  

Tom was the President and General Manager of NBC’s flagship station, WNBC, prior to transferring to CNBC.  He led WNBC’s transformation into one of the nation’s first true multi-platform news organizations; maximizing the production and delivery of video content to TV and digital platforms including NYC taxis, PATH trains, and other out-of-home venues as a strategy to develop new audience and revenue opportunities for NBC in New York.  Prior to be being promoted to run New York, Tom was the President and General Manager of NBC’s KXAS in Dallas/Ft. Worth and NBC’s WVIT in Connecticut.

Recognized for his work in the industry, Tom received the 2015 Technology Leadership Award from Broadcasting and Cable Magazine, and was named a 2014 Digital All-Star by B&C.  He was honored in April 2010 by New York’s City Harvest with their prestigious “Heart of the City” award.

O’Brien graduated at the top of his class from Syracuse University’s S.I. Newhouse School of Public Communications and the School of Management. 

Tom O'Brien clr high res copy.jpeg


(646) 453-9569





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