Propeller Health, an Asthma tracking startup, raised $21.5 million in series C funding. They will use the new funds to expand their product portfolio, which already includes 45 programs. According to CEO David Van Sickle, Propeller would also like to expand globally. The company launch in 2010 and has been growing rapidly thanks to relationships with key healthcare partners including Dignity Health and government programs like Molina Healthcare. You can learn more about Propeller here.
EatStreet is reported to have raised 11 million in another big round of funding.
The mobile food ordering platform is growing rapidly as they now serve 15,000 restaurants in over 250 cities across the US. EatStreet recently moved to new offices on the Capitol Square as they continue to expand. The Madison based company has now raised a total of 38.5 million dollars to date. You can read more about EatStreet here.
The DragonSoul franchise has become a household name in mobile gaming with over 9 million players worldwide. GREE international plans to build upon the success of DragonSoul and further increase its reach across Europe and around the world. As for PerBlue, the acquisition will allow the Madison company to continue managing their current collection of games as well as develop new mobile role playing games. You can read more about the acquisition here and here.
HealthMyne, a Madison-based health IT startup received $6.9 million in a recent funding round. This includes an investment from the Wisconsin Alumni Research Foundation. HealthMyne’s technology analyzes tumor images to help radiologists identify and track cancerous tumors. The product has been approved by the FDA and there are already pilot products in three hospitals. You can read more about HealthMyne here.
HealthX Ventures has raised a total of $20 million for an investment fund that focuses on early stage health startups. Founded in 2015 by Mark Bakken, HealthX is already invested in 5 companies (Redox, EnsoData, MovingAnalytics, HealthiPASS, and Epharmix), and they plan to invest in another 5 to 7 companies in the coming few years. The portfolio consists of companies that will be an integral part in lowering healthcare costs and improving the lives of many patients in the process. You can read more about HealthX here.
Moxe Health has recently announced a $5.5 million round of funding. The Madison-based company has developed tools that improve the flow of data in the healthcare industry. Among its many uses, Moxe’s software aids in the transfer of information between healthcare systems that use different software for handling patient records. The additional funds will allow Moxe to hire more employees and boost sales as they aim to double in size in the next year. You can read more about Moxe Health here.
Madison health IT startup Catalyze recently raised $6.5 million in funding. The growing Madison company does cloud computing for hospitals, facilitating communication between their electronic systems and other digital health companies. Catalyze will use the new funds to expand their team and develop new products that will help the broader healthcare industry use data to analyze the quality of health care their customers receive. You can read more about Catalyze here.
ABODO recently announced a $4.8 million round of funding.
The Madison-based startup is the creator of a popular software used by renters to locate apartments. Their service is already offered in 30 cities across the US, and they plan to use the funding to double that number by the end of 2017. In addition, the funding round led by 4490 Ventures will allow ABODO to move to bigger offices to accommodate their growing company.
With over 500,000 users per month, ABODO has positioned itself as a leader in the apartment search industry. They have now raised over $8 million to date. You can read more about ABODO here.
Ionic recently announced an $8.5 million round of funding.
Since the company’s inception in 2011, over 2 million apps have been created using the Ionic framework. The current round of funding will be used to boost sales and continue building out commercial services that go along with the open-sourced SDK. You can read more about Ionic’s raise here.
Understory recently announced that they raised $7.5 million in a Series A round.
In addition, the company formerly known as Subsidence is moving its headquarters back to Madison, Wisconsin. Founded in 2012 and a graduate of the Gener8tor accelerator program, Understory is a tech startup that has developed a device that monitors information about the weather. Specifically, the solar powered technology is able to track humidity levels, temperature, rainfall, hail, and the speed and direction of the wind. Understory has gained a competitive advantage because their measurements are incredibly accurate, a product of collecting weather information from Earth’s surface as opposed to from the atmosphere.
The latest round of funding will allow Understory to build up to 250 new stations around the U.S. and hire additional employees to manage the growth. The company says it is moving its headquarters back to Madison for strategic reasons and also credits the move to the major growth in the Madison startup scene in recent years.
Understory has now raised $9.7 million to date. You can read more about Understory on Xconomy here.
StartingBlock Madison has just announced a crowdfunding campaign in order to help close a final funding gap. The exciting new entrepreneurial hub, which is set to break ground this winter, has already raised 85% of the necessary funds. They are now looking for community members to contribute and play a direct role in helping bring this project to reality. Starting at $25, you can purchase a “virtual block” and cement yourself as a contributing member to StartingBlock Madison!
This project will play a crucial role in building the long term infrastructure that will bring Madison’s entrepreneurial ecosystem to the next level and with your help, we can make it happen! You can buy a virtual block here. For more information, check out StartingBlock Madison in the news on Madison Magazine and The Cap Times.
Gener8tor has announced a free accelerator program for early stage startups tied to Wisconsin State Universities. The six week course, called gBETA, is designed to provide resources and mentoring to young companies in both the Madison and Milwaukee area. It will function similar to Gener8tor’s three month long accelerator; however, companies will not exchange any equity for participating.
Gener8tor Co-Founder Troy Vosseller wanted to create a free course for entrepreneurs that are attending Wisconsin state schools, recent graduates, or current faculty. His goal was to give back to the community and help these startups move their ideas forward. Additionally, successful graduates of this program could serve as qualified candidates to continue on to Gener8tor’s longer accelerator program. The first graduating class of 5 companies will culminate their 6 week long summer program in Madison with an invite only pitch event on August 13th. You can read more about gBETA here.
With donations from two more prominent foundations, StartingBlock Madison is gaining momentum. Following significant investments from American Family Insurance and the City of Madison, the most recent donations from the MG&E Foundation and Evjue Foundation come as StartingBlock recently named Scott Resnick as executive director of the future entrepreneurial hub in Madison.
“Our innovative enterprise businesses are sending a clear signal that they value entrepreneurship and view it as a vital piece of the success for our region in their support of StartingBlock. A key element in growing entrepreneurship is spaces that are conducive to the economic gardening necessary to grow an economy.”
– Zach Brandon, President, Greater Madison Area Chamber of Commerce
StartingBlock will provide emerging companies with workspace and resources that will give entrepreneurs the best chance of success and spur innovation.The many resources that will be offered at StartingBlock include coworking space, educational programming, and startup accelerators like gener8tor. In addition, Sector67 and Capital Entrepreneurs will both have new homes on the 50,000 square foot entrepreneurial hub.
Scott Resnick, COO of Hardin Design & Development and former Madison city alder, was part of the original planning group for StartingBlock and has been a passionate advocate for the concept. Resnick will serve as executive director supporting the StartingBlock board of directors during this formative period of fundraising, organizational and operations development.
StartingBlock plans to be part of a new building in the Capitol East district of downtown Madison. Construction is planned to begin in 2015 with occupants moving in at the end of 2016. For more information on StartingBlock, go here. If you are interested in contributing to the StartingBlock fundraising campaign, contact Scott.
The Wisconsin Governor’s Business Plan Content has selected 13 finalists from a field of over 200 startups. A majority of this year’s finalists are from the Madison area, including AltusCampus, bluDiagnostics Fertility Finder, ConfPlus, CountAbout, Élevé Technical Innerwear, KIINCE, Nutrient Recovery and Upcycling, OnLume, and Hunt Butler. The competition will conclude at the Wisconsin Entrepreneurs’ Conference. Read more here.
Fetch Rewards raised $4 million in Series A funding recently. The company, which has developed an innovative app for grocery shoppers, will use the money to scale their business from 10 stores to as many as 100. The service allows customers to track their purchases as they go and apply coupons when they are available. Shoppers also accumulate points for using Fetch, which can be redeemed to buy special in store items. To date, Fetch has raised $8.5 million.
Read more about Fetch Rewards recent funding here.
Madison and Milwaukee based startup accelerator gener8tor graduated their most recent class of 5 startups. Gener8tor’s Premiere Night took place May 14 at the Barrymore Theater in Madison, where the 5 companies took the stage along with Jack Salzwedel (CEO of American Family Insurance) and the UW Band. Graduates of gener8tor’s latest class include AltusCampus, Bright Cellars, Carson Life, GrocerKey, and Passage.
Madison and San Francisco based startup SnowShoe recently announced a $1M funding round. They had previously raised $2.5M in earlier rounds.
Founded by three UW graduate students in 2011, SnowShoe sells an intelligent piece of plastic that interacts with touch screens. Among its many uses, the plastic stamp allows users to instantly download music, authenticate purchases, and even transport real life toys into online video games. The newest round of fundraising will allow the company to scale up production of its stamps to reduce the selling price from $2.50 a stamp to fewer than 50 cents each.
SnowShoe, who recently completed the TechStars Disney Accelerator, also announced a new platform that will allow developers to more easily integrate their web pages with the stamps. Read more about SnowShoe and their latest developments on TechCrunch and Xconomy.
Capital Entrepreneurs would like to congratulate the eight companies who just completed the Madworks Seed Accelerator program. The most recent class featured a variety of different tech innovations, cashmere baby wraps, a new yoga music company, a product to aid event promotion, and a foot care device for the elderly.
Madwork’s 10 week course, which is designed to help young companies further develop their ideas, has now successfully worked with a total of 30 companies over the last two years. With a combination of mentoring and capital, the program has been instrumental in helping local startups (and a team from Brazil this year) get their ideas off the ground. Madworks is unique from other accelerator programs because of their focus on problem solving, something that is particularly important for companies in the early development stages.
Applications for the next class are due May 15, with the program set to begin May 26th.
Drifty recently completed an additional $2.6 million funding round led by Lightbank in Chicago, with additional participation from Arthur Ventures. Drifty previously raised $1 million in funding last year, and this latest investment marks Lightbank’s second investment in a Madison based company following their investment in PerBlue last year.
Drifty is the creator of the Ionic Framework, which makes it possible for web developers to build and publish native mobile applications. Ionic is one of the top 50 most popular open source projects in the world, and is used by developers ranging from individuals to Fortune 50 companies.
Read more about Drifty and their latest funding round on TechCrunch here.
Healthfinch recently completed a $1.5M financing round led by Jumpstart Ventures. Healthfinch has raised $2.8M total since its founding in 2011. Healthfinch focuses on automating and improving the routine, repeatable work that physicians and healthcare staff are tasked with. The company’s first product, Swoop, focuses on increasing the efficiency of prescription refill requests and is used by more than 1,000 doctors to process more than 1 million prescription refill requests since launching in 2012. Healthfinch intends to expand their product line in the coming year.
More information on this financing round can be found on Xconomy here.