Q2 2016 Investments for Indiana Technology Companies
Indiana technology companies continue to close successful seed funding, equity and venture rounds in the second quarter of 2016. In comparison to Q1 2016, Q2 has seen larger investments across a wide range of tech industries. We compiled a list of public announcements to highlight the activity and interest.
Cloud and hosting technology company CloudOne announced a $9 million Series E raise in April to start out the quarter with a bang. Plymouth Ventures of Ann Arbor, Michigan led the funding round with primary participation by Hercules Technology Growth Capital of Palo Alto, Calif. Total investment in CloudOne is currently at $21.9 million.
Health analytics software company Springbuk announced a $3.75 million Series A raise in May, led by St. Louis-based Lewis & Clark Ventures. The company had less than 20 staff in 2015 but will be growing their team to 40 by the end of 2016.
Two-time Mira Award winner DemandJump announced a $1.8 million equity raise in June with contributions from Hyde Park Venture Partners, 4G Ventures, Bob Davoli of Sigma Prime Ventures, and Indianapolis-based Collina Ventures. DemandJump’s artificial intelligence marketing platform turns marketing into revenue generation, and the company was recently a TechPoint Featured Company of the Week.
Sports technology company Upper Hand announced a $1 million seed raise in June with investment from former Finish Line executives. After doubling their team, the company grew out of The Speak Easy co-working space and now has an office in the Morrison Opera House in downtown Indianapolis.
Lumavate, a technology company that delivers crucial product information from manufacturers to consumers, announced a $1 million equity round in June, led by 4G Ventures. This is the company’s second round of the year, after raising $1.75 million in February.
Consul Teams, a Software-as-a-Service company focused on helping B2B companies optimize their customer success outcomes, recurring revenues and LTV, announced a $1 million seed raise on June 30. Elevate Ventures led the investment round with additional investments from Hyde Park Venture Partners, 4G Ventures, and Charmides Capital and several members of the Consul Teams leadership. The Consul Teams board has already approved and extended for additional funding.
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