Robert Hessman President & CEO
Robert Hessman “Bob” founded Orbit Connected, Inc. to better serve the high security fleet industry needs by providing safe and secure vehicles used for delivery. For the last 10 years, Bob has served as the President and CEO of Lender Systems Inc., a company that manufactures and sells security-based risk management technology to credit unions and finance companies worldwide. This patented technology (co-owned by Bob), has been seen on NBC, CBS, in the Wall Street Journal, USA Today and numerous other publications. Bob has 30 years of executive level experience in management, marketing and sales management, both in the private sector and public sector where Bob co-founded one of the first SBA approved economic development corporations in Los Angeles, California. Bob graduated with a Bachelor of Science in Business Administration from Fort Hays State University, Kansas. Following graduation, Bob trained and graduated from the New York Institute of Finance better known as "where wall street goes to school". Following graduation, Bob worked as a stock broker on wall street. Bob also served as a corpsman with the marines where he received the bronze star for valor.
Frank Simon was instrumental in pioneering RFID applications when he became one of the first employees of Identification Devices Inc. (IDI) in 1984. While at IDI Frank developed the idea of packaging the world’s first RFID microchip into a credit card sized tag for use in the building access control market. The product line was eventually sold to the Hughs Corporation and later became known as HID. Currently HID is the world’s largest supplier of proximity tags and readers used for entry into buildings and parking facilities. Frank also pioneered the process for putting RFID tags inside of tires for DOT control, working with Central Transport and Goodyear Tire, as well the use of RFID in “automatic guided vehicles” (Portec and Jarvis Webb).
In 1988 Frank founded RF Engineered Systems which developed the vehicle identification system used by Exxon in their “gas station of the future” and later by the Pittsburgh airport for identifying specific vehicles as they were parked at a gas pumps.
In 1992 RF Engineered Systems changed their corporate structure and was renamed RF Identification Systems, which developed the world’s first commercially available RFID vehicle immobilizer. The product called “Magic” was sold by Prevent-A-Theft Inc. and additionally by Loctronics Inc beginning in 1998. In 1998 Frank engineered a loan servicing device that could be installed in vehicles that would keep a vehicle from starting in the event the right to cure period had passed and a consumer hadn’t made their car payment. This product was called “OnTime” and marketed by a company known as Payment Protection Systems. By 2010 approximately 700,000 of these devices were installed in consumer vehicles.
During the last 10 years Frank has been developing specialty products for Lender Systems Inc. and in January 2017 Frank merged his interest and holdings from RF Identification Systems into Integrated M2M Technologies LLC where he has focused on developing unique patented products for the telematics industry.
Bob is a finance expert and serial entrepreneur who has more than 35 years’ experience working in the finance industry. After graduating from URI, Bob started his first business, a record and stereo store, that quickly grew to be one of the largest single location sales outlets in Southern New England. Later on, Bob entered the brokerage industry starting as a Series 7 registered representative before advancing and obtaining numerous principal licenses. Along the way, he became co-founder and CFO of 2 small broker/dealers. Later in his career, Bob moved from management and migrated to investment banking and worked as a member of the investment banking team at Coast Partners Securities, Inc., Redwood Securities, Inc., and Wulff, Hansen & Company. While at these firms, Bob concentrated on private placement debt and municipal bonds where he was responsible for performing diligence, cash flow analysis, term sheet development, and sales to institutional accounts. Some of Bob’s buy-side clients included major mutual fund companies, well-know insurance companies, and other major institutional accounts. Sell-side clients included numerous California cities, hospitals, and water companies.
After leaving the brokerage industry, Bob obtained his California real estate broker’s license and has originated more than $100mm in small-balance commercial loans and has sold numerous businesses as a business broker. He is also the owner of La Quinta Capital and is a licensed California commercial real estate broker, CalBRE # 01920962.
Bob is a graduate of the University of Rhode Island with a degree in Biology.