Why Elizabeth Charnock decided not to take venture capital. Burned by a previous experience running a venture-capital-backed technology start-up, Elizabeth Charnock vowed to do things differently the next time. Despite challenges, Ms. Charnock, 43, is now making good on her promise as chief executive and founder of Cataphora, a bootstrapped, 60-employee firm that makes software used to track and analyze computer users’ online activity and communications.
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