Author: Jonathan Ellis
LogicGate raises $25m Series B financing
LogicGate Secures $24.75M in Series B Financing co-led by Jump Capital and High Alpha Capital
Initial investors double down on governance, risk and compliance software, increase investment to scale product, engineering and customer success
CHICAGO – Dec. 17, 2019 – LogicGate, an agile process automation platform enabling organizations to operationalize governance, risk, and compliance (GRC) programs, today announces $24.75 million in new funding. The round includes a combination of equity and venture debt co-led by Jump Capital and High Alpha Capital, with participation from Greenspring Associates and Silicon Valley Bank. This raise brings the total investment in the Chicago Techstars alum to $34 million.
“This funding round is a testament to the continued belief of our investors in the future of LogicGate and what we’re building,” said Matt Kunkel, LogicGate’s CEO. “Combined with Emily Heath’s addition to the board, the investment underscores the fact that the market is ready for a flexible GRC solution that helps risk, compliance and security professionals make strategic, informed choices every day.”
LogicGate will use the funds to continue empowering risk and compliance professionals to drive business value with its flexible, easy to use platform. Taking customer feedback into consideration, LogicGate will aggressively invest in initiatives to solve complex risk management challenges more holistically, including investments in content, frameworks, data partnerships and additional integrations
“The risk and compliance software market is reaching new heights,” said Emily Heath, LogicGate board member, and Chief Trust and Security Officer at DocuSign. “As risk mitigation strategies trend from reactive to proactive, organizations are looking for the right technology to support a single source of truth across all departments. LogicGate is poised to break through the market as an agile GRC platform that does just that.”
Traditionally, risk management has been siloed within departments and managed with spreadsheets and emails, leading to disparate data and an unclear picture of risk across an organization. With LogicGate’s agile approach to GRC, all risk data is housed in a central repository, providing a singular source of truth from which to visualize, customize and automate risk and compliance processes. The no-code platform gives companies the flexibility to scale risk and compliance programs when necessary.
“GRC has been stuck in the back office for too long. The next stage of GRC technology demands a flexible approach, where organizations can see real business value and impact across all departments,” said Jump Capital Managing Partner and Co-Founder, Michael McMahon. “That’s why at Jump, we’re doubling down with our investment in LogicGate. As a forward-thinking, agile GRC platform, the potential for its veteran leadership and innovative engineering teams is exponential.”
LogicGate launched in 2015, announcing a $1.9 million seed round in December 2016 and a $7.5 million Series A in July 2018. In November 2019, the company announced the addition of 170 jobs by 2021.
For more information on enterprise risk management visit www.logicgate.com.
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About LogicGate
Headquartered in Chicago, LogicGate is an agile GRC software solution that enables organizations to automate and centralize risk and compliance programs. LogicGate’s highly configurable platform assists organizations in transforming mission-critical governance, risk, and compliance processes without the support of consultants or corporate IT by enhancing controls and increasing flexibility. Dashboard-style reporting within the platform allows risk and compliance teams to analyze and remediate issues immediately. The company has made the Global RegTech 100 list two years in a row and was recently named the #1 GRC Software on the G2 GRC Grid. For more information, visit LogicGate.com and follow LogicGate on Twitter at @LogicGate.
About Jump Capital
Jump Capital is a venture capital firm specializing in expansion and growth stage investments ranging from $2-$20mm. Jump invests in data-driven enterprise software companies across a breadth of industries. With offices in Chicago and New York, Jump provides advocacy and support through a platform of institutional-level resources for entrepreneurs. Learn more at www.jumpcap.com or follow on twitter @jumpcapital.
About High Alpha Capital
High Alpha is a leading venture studio focused on building next-generation enterprise cloud companies through a new model for entrepreneurship that unites company building and venture capital. The High Alpha team partners with entrepreneurs, investors and large corporations to conceive, launch and scale new software companies. For more information: highalpha.com or on Twitter at @highalpha.
Media Contact
Katie Cessna
BLASTmedia for LogicGate
317-806-1900 x.142
InSight Telepsychiatry and Regroup Announce Merger to Become Largest Telepsychiatry Provider in US
PHILADELPHIA & CHICAGO–(BUSINESS WIRE)–InSight Telepsychiatry and Regroup Telehealth have merged to become the largest and most comprehensive telepsychiatry service provider in the US.
The merger between InSight and Regroup brings together a robust network of providers and an impressive group of clinical and executive leaders with extensive experience and expertise across different care settings and patient populations for underserved individuals and communities. This joint effort will allow for increased delivery of mental health services across the country in response to a nationwide shortage of specialists coupled with a rising need for behavioral health services.
“InSight is excited about the merger with Regroup and the opportunities it represents. Our organizations are remarkably similar in terms of culture, values and vision for the future. By combining our passion, drive and efforts, we will continue to set the standard for telepsychiatry delivery, leading the way to unprecedented access to care to those who need it most,” said Geoffrey Boyce, CEO of InSight and the new combined organization. “This merger allows us to align our shared goals, operational efficiencies and established models to offer scalable solutions across the continuum of care.”
InSight Telepsychiatry, based in Mt Laurel, NJ, has more than twenty years of telepsychiatry experience and serves hundreds of organizations in various settings with its on-demand, scheduled and direct-to-consumer (Inpathy) divisions. Since its inception, InSight has maintained its reputation as a trusted and experienced industry thought leader by upholding a high standard of clinical care and actively advocating for increased adoption of telebehavioral health.
Regroup, founded in 2011 and based in Chicago, brings customized telepsychiatry solutions, technology and comprehensive support teams that contribute to the seamless integration of behavioral health clinicians at partner care sites. With backing from a group of funders including the Hyde Park Angels and Frist Cressey Ventures, Regroup grew quickly. Their clinicians collaborate with onsite care teams on patient care plans and workflows, yielding better behavioral care, shorter wait times and reduced barriers in settings such as primary care clinics, community health centers, hospitals and correctional facilities.
“Regroup is excited to complement our proven approach to integrated telepsychiatry with InSight’s breadth of services, including on-demand services for partners and direct-to-consumer solutions for patients seeking care at home or other care settings of their choice,” said David Cohn, Founder and CEO of Regroup. Cohn will serve as Chief Growth Officer and maintain a seat on the board of directors for the newly combined organization.
Investors in the combined company include Harbour Point Capital, HLM Venture Partners, OCA Ventures, OSF Ventures, and Impact Engine. Ziegler, a specialty investment bank, represented Regroup in the merger process.
“Geoffrey and the leadership team are highly regarded by both the mental health provider community and their partners. This next phase of growth will continue to improve access to mental health care for underserved individuals, facilities and communities,” said David Crane, Chairman of the new organization’s board and a Partner at Harbour Point Capital.
“HLM has been a firm supporter of Regroup and is proud to see the impact they have made on how behavioral health services are provided virtually across the US. This merger marks a new chapter where the combined entity will be uniquely positioned to shape the future of the telebehavioral market even further,” said Vin Fabiani of HLM Venture Partners. Fabiani will continue to serve on the new organization’s board of directors.
About InSight Telepsychiatry
Founded by child and adolescent psychiatrist, Jim Varrell, MD, InSight is the leading national telepsychiatry service provider with a mission to transform access to quality behavioral health care through innovative applications of technology. InSight has more than two decades of telepsychiatry experience and serves hundreds of organizations across the country with its on-demand, scheduled services and Inpathy divisions. InSight has led the growth of the telepsychiatry industry and remains an industry thought leader and advocate. To learn more, visit www.InSightTelepsychiatry.com.
About Regroup Telehealth
In partnership with providers at more than 175 care locations across America, Regroup brings individualized mental health services to deliver hundreds of thousands of patient sessions per year. Regroup’s clinician-focused culture attracts highly qualified clinicians that are supported by a dedicated team of recruiting, licensing and credentialing, account management, clinician relations and technical implementation teams. For more information, visit www.regrouptelehealth.com.
The two organizations will continue to utilize their respective names and brands throughout the integration process.
Media Contacts:
Sarah Plumridge
press@regrouptelehealth.com
312.506.5218
Michelle Mann
mmann@in-sight.net
443.605.2399
Sandalphon invests in CRE Simple’s Seed round
CRE Simple, Inc. Announces Investment led by Grand Ventures and Fin Venture Capital
Funds expansion of intelligent lending across the Commercial Real Estate ecosystem
OAKLAND, Calif., Oct. 16, 2019 /PRNewswire/ — CRE Simple, Inc., the first company to transform Commercial Real Estate (CRE) financing through the use of intelligent technology that integrates with the entire CRE ecosystem, today announced a series seed investment led by Grand Ventures and Fin Venture Capital, with participation by Darkknight Ventures, Sandalphon Capital, Duke Angel Network, and other private investors and leaders in the CRE industry. CRE Simple has also been named as one of six companies accepted to REACH Commercial, a strategic growth accelerator operated by Second Century Ventures, the venture capital arm of the National Association of REALTORS®.
CRE Simple is reinventing CRE financing with capital and software solutions that create a more efficient and transparent lending process. CRE Simple’s technology-driven approach automates the complexity involved in commercial lending. By connecting the dozens of parties involved in the CRE deal workflow and managing over 1700 steps in each transaction, CRE Simple accelerates processing times by up to 10X while allowing capital partners to dramatically reduce their cost of lending.
“I’ve worked in enterprise fintech for 14 years and it’s incredibly challenging to change the way businesses collaborate and communicate. We believe the CRE Simple team has the potential to reinvent CRE financing through connected platform technologies – and introduce the future of Commercial Real Estate,” said Tim Streit, Founder and General Partner at Grand Ventures.
The U.S. CRE lending market is worth more than $3.2 trillion1. Despite being a major engine of economic activity, the sector has lagged behind in creating efficient and digitally connected processes for brokers, borrowers, and capital providers alike. The information required to market, quote, and close a transaction is distributed across multiple parties, compromising accuracy and security, and negatively impacting the borrower experience. These inefficiencies result in excessive origination costs that are shared by every participant in a transaction.
Until now, the CRE lending market has been limited in its ability to harness the power of technology to standardize and streamline the lending process, from quote-to-payoff. CRE Simple’s OneSource platform creates an efficient and transparent CRE lending process for every stakeholder. By creating a personalized experience and workflow for every participant in a deal, CRE Simple brings predictability and automation to a currently manual, error-prone, and complex process. The OneSource platform is purpose-built to manage loan origination, applications, credit file creation, processing, underwriting, closing, and servicing. OneSource is used by CRE Simple lending experts and others to reduce costs and provide a faster and superior borrowing experience.
“We invested in CRE Simple because it is providing SaaS technology solutions to the commercial real estate market, driving scale and efficiencies in asset and transaction management across external service providers, brokerages, and capital partners,” said Logan Allin, Managing General Partner and Founder of Fin Venture Capital.
“We are thrilled to partner with a diverse set of funds and industry leaders that share our vision to transform the commercial real estate market and deliver the efficiency opportunities of modern technology-driven financing,” said Brian Thompson, Co-Founder and CEO of CRE Simple.
“Financing is the backbone of the commercial real estate industry, offering rich opportunities to apply technology to reinvent the market,” said Laura Millichap, Co-Founder and President, Strategic Accounts of CRE Simple. “Data accuracy, intelligent automation, and market networks are required to deliver more efficient transactions. We are excited to be working with strategic investors and partners to simplify commercial real estate market,” added Millichap.
Proceeds from the round will allow CRE Simple to accelerate growth by adding sales, marketing, and product development resources. The investments will also position the company to capitalize on strategic relationships and opportunities to expand its lending and SaaS footprint across the CRE ecosystem.
About CRE Simple
CRE Simple is reinventing CRE financing with capital and software solutions that bring speed, certainty and transparency to every CRE transaction. CRE Simple empowers every participant in a CRE transaction by providing access to standardized and digitized data, workflow, and documents, while intelligently coordinating communication across every stakeholder.
Using the OneSource platform, CRE Simple’s capital solutions business enables financing partners to accelerate origination and processing, dramatically reducing the cost of lending while providing a modern experience for the borrowing community and their distribution channel.
CRE Simple’s OneSource platform is also currently available on pre-release basis to select mortgage brokers to enhance team efforts, streamline lender management, develop their brand, and increase the lifetime value of their clients. Brokers using the system also get integrated access to CRE Simple’s capital solutions, providing them exclusive access to competitive capital in the market.
For more information:
www.cresimple.com
www.grandvcp.com
www.finvc.co
www.secondcenturyventures.com
Press contact:
Alex Lustberg
510.679.6405
alex@cresimple.com
1Source: Mortgage Bankers Association (MBA) 2018
SOURCE CRE Simple
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Sandalphon follows-on in Balto’s $3m Seed Extension round
Balto, Real-time AI Call-Guidance Software, raises additional $3 million in Seed funding
Balto, the world’s first artificial intelligence software for real-time call guidance and coaching, announced today that it closed a $3 million seed financing round
Sep 26, 2019, 12:24 ET
ST. LOUIS, Sept. 26, 2019 /PRNewswire/ — Participating in the round are OCA Ventures (co-lead), Stage Venture Partners (co-lead), Jump Capital, Cultivation Capital, SaaS Ventures, TIA Ventures, and Sandalphon Capital. This round of funding will be used to scale the organization’s sales and marketing capabilities, expand headcount, and make major investments in applying A.I. to help sales teams make their sales messaging more effective.
CEO Marc Bernstein, COO Chris Kontes, and CTO Davidson Girard founded Balto in January 2017 to address the multibillion-dollar need to optimize revenue opportunities and eliminate costly mistakes on sales calls. Since inception, Balto has guided almost 10 million phone calls and has consistently doubled its customer base every five months.
Balto uses artificial intelligence to analyze both sides of the conversation and instantly deliver critical information to sales representatives before they lose valuable sales calls. Balto is fully customizable and is the only call guidance software solution that can provide real-time feedback without storing any transcripts or call recordings. Balto has attracted customers across all industries, from 2-person sales teams to fast-growing publicly traded companies in financial services, healthcare, home improvement, pharmaceuticals, utilities, retail, insurance, collections, and enterprise technology.
“We are thrilled to be leading a second round in Balto Software just 13 months after our first,” says Alex Rubalcava of Stage Venture Partners. “Balto has built a world-leading real-time call guidance product that brings unprecedented AI-powered coaching to every agent on the call center floor. Balto also empowers sales managers with speech analytics and live data so they know, for the first time, how well their teams are selling in the moment.”
“The A.I. is powerful, the rep coaching is effective and the results are measurable. Balto has built a category-leading product and developed sales and marketing functions far ahead of typical seed stage companies,” says Tamim Abdul Majid of OCA Ventures.
With this newest round of funding, Balto is thrilled to continue expanding its St. Louis-based team and serving its customers nationwide.
About Balto
Balto is the #1 AI technology for real-time call guidance and coaching. Balto’s software solution listens to both sides of a call and instantly delivers critical information and feedback to sales representatives before they lose valuable sales calls. Balto is fully customizable and current customers include sales teams, contact centers, and customer service groups in sectors ranging from debt collections to healthcare and home improvement.
For more information, contact: info@baltosoftware.com
For press inquiries, contact: marketing@baltosoftware.com
SOURCE Balto
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Sandalphon invests in TripScout’s $2m Seed round
TripScout raises $2 million to be the first travel app you use every day
The app has already become the most engaging resource in travel by providing daily entertainment and utility for every step of a traveler’s journey
Apr 24, 2019, 08:18 ET
TripScout is the only travel em or planning for a specific location, the app provides a portal for visual discovery by featuring the best articles and videos from top publishers and local influencers for each destination. The app also allows travelers to turn their inspiration into action as every restaurant, café, shop, or site featured within the content is mapped to one of TripScout’s 100 million+, constantly updated points of interest. With one tap, travelers can save any POI they discover as easily as ‘liking’ an Instagram post, allowing them to magically stitch together their perfect trip into a full, personalized itinerary.
Alongside this announcement, TripScout also released its brand new “Today” tab. This new feature gives travelers a personalized, daily dose of wanderlust for their upcoming trips – including a trip countdown, new trip recommendations, weather summaries, and a destination of the day.
“We are frequent travelers ourselves and realized that, while we may only travel for a few weeks per year, inspiration actually occurs every single day,” said CEO and co-founder Konrad Waliszewski. “There are tons of commoditized booking platforms and generic travel tools, but we craved daily inspiration personalized to create our own, unique trip. Whether we were scanning travel videos for inspiration months before our trip, refining an existing itinerary weeks before we depart, or discovering that hidden gem around the corner from our hotel while in destination, we needed a go-to mobile platform to use every day. We built TripScout to be that platform. It provides daily entertainment and utility for every step of a traveler’s journey. That is why it has become the most engaging resource in travel,” he said.
“Online travel is an $800 billion marketplace, and mobile travel itself is a $250 billion+ industry. Amazingly, the market still operates on untrustworthy reviews and outdated booking experiences. Today’s traveler gathers inspiration on a daily basis from social media and a wide variety of content, and we need technology that is actionable and mobile to meet their demands,” said Andy Acs, CPO and co-founder. “There is a massive opportunity to redefine the discovery experience, and in the process, make it easier and more fun to get out and see the world.”
The TripScout app is available for download on iPhone and you can learn more at TripScout.co. Travelers can connect with TripScout on Instagram at @TripScoutApp.
About TripScout
TripScout is the only travel entertainment platform for the traveler that dreams every day about their next trip. The app provides a portal for visual discovery by featuring the best articles and videos from top publishers and local influencers for each destination. Travelers can then turn their inspiration into action as every recommendation featured within the content is mapped to one of TripScout’s 100 million+ points of interest. With one tap, travelers can easily save any place they discover, allowing them to magically stitch together their perfect trip into a full, personalized itinerary.
Related Links
Sandalphon follows-on in Truss’s $15m Series A-2 led by General Catalyst
With $15 Million Series A-2, Truss Expands its Tech-Enabled Commercial Real Estate Platform
Current Round Led by General Catalyst with Participation from Former Priceline Executives
CHICAGO and BOSTON, Jan. 17, 2019 /PRNewswire/ — Truss, a leading marketplace for commercial real estate, today announced its Series A-2 funding round of $15 million. The round was led by General Catalyst, which has also invested in groundbreaking marketplace technology companies like Airbnb, ClassPass and Deliveroo, along with supporting investors including Navitas Capital, Hyde Park Angels and Hyde Park Venture Partners. Truss continues to receive significant interest from tech leaders, including Robert “Bob” Mylod, former Priceline executive and Redfin’s chairman, who will join the board of directors. Jeff Boyd, former CEO of Priceline and managing director of Brothers Brook, participates in the round as an investor.
Truss has more than 30,000 spaces in office, coworking, industrial and retail space available to search, tour and lease on its marketplace platform. Truss is the only company to offer complete price transparency to prospective tenants during the search process. Small business owners can take 3D virtual tours of the different spaces, which saves them time and helps them visualize the space without needing to visit it in person.
“As Truss continues to grow, we will continue our commitment to providing price transparency and increased efficiency for small business owners looking for the perfect space for their businesses,” said Tom Smith, co-founder of Truss. “The increased resources will allow us to expand into more markets and grow our team, in turn yielding more available spaces in more places to our customers.”
Truss’ Series A-2 funding follows its strong earnings with 23 times revenue growth in the last 12 months. The announcement also follows their most recent recognitions and awards from Chicago Innovation and CREtech.
“The Truss marketplace offers small business owners greater speed, simplicity, and transparency in their search for new real estate. On the other side, Truss provides higher volumes and more qualified leads to brokers and owners,” said Adam Valkin, managing director at General Catalyst. “The company’s momentum in its first nine markets, driven in part by its AI-driven chatbot interface, suggest that real value is being unlocked for all parties.”
To learn more about Truss, visit www.truss.co.
More about Truss
Truss helps small and medium businesses, find, lease and tour office, industrial and retail space with more than 300 million square feet available in Chicago, Boston, South Florida, D.C., Maryland, Northern Virginia, Houston, Dallas, San Antonio and Austin. The business owner can search for the space from their own computers or mobile devices. Truss’ technology enables business owners to find the right space in a convenient and easy manner. Truss also offers dedicated brokers who act as the point person throughout the seamless process. To learn more about Truss, visit www.truss.co or follow them on social media on Facebook, Instagram and Twitter.
More about General Catalyst
General Catalyst is a venture capital firm with approximately $5B raised to date that makes early-stage and transformational investments. We back fearless entrepreneurs who are building market-leading technology companies like Airbnb, BigCommerce, ClassPass, Datalogix, Datto, Demandware, Gusto, The Honest Company, HubSpot, KAYAK, Oscar, Snap, Stripe, and Warby Parker. With offices in San Francisco, Palo Alto, New York City and Boston, our portfolio companies benefit from a bicoastal network of talent, customers, and opportunity. For more: www.generalcatalyst.com.
External:
1-888-339-7077
press@Truss.co
SOURCE Truss
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Sandalphon follows-on in Jiobit’s $6.5m funding round alongside Netgear
FINANCING FROM NETGEAR, TECHSTARS VENTURES, AND MIDWEST FIRMS TO BACK MARKET EXPANSION
November, 19 2018 (Chicago, IL) – Jiobit, a Chicago-based provider of wireless location-based technologies, today announced it has closed a $6.5M investment round from leading technology veterans alongside a strategic investment from California-based NETGEAR, a worldwide leader in home networking. Jiobit will be leveraging the new capital to accelerate the growth of sales and marketing, R&D efforts, as well as expanding their IP portfolio. Founded by ex-Motorola executives John Renaldi and Roger Ady in 2015, Jiobit has raised a total of $11M to date.
Other notable participants in this round include MATH Venture Partners, Techstars Ventures, Wakestream Ventures, Sandalphon Capital and Uber Executive, Lior Ron.
“Connecting families with the most advanced technology is at the core of NETGEAR’s mission, and Jiobit is working to provide just that. Jiobit’s objective to offer peace of mind through location tracking technology is exactly the kind of mission we want to be a part of,” said David Henry, NETGEAR’s SVP of Connected Home Products.
The hardware-enabled SaaS company began shipping their first product in December of 2017. Jiobit now plans to expand marketing efforts, distribution channels, hiring, R&D, and product portfolio, in 2019. Jiobit is an excellent example of a Midwest company that has developed their own patented core technology that has consumer and enterprise applications. In 2017 Chicago tech companies raised more than $1.7B in funding and Jiobit’s successful raise continues this trend of funding for Chicago-based startups.
“The technology scene in Chicago continues to explode and is positioned to be an international hub for innovation due to its talent and infrastructure,” said Troy Henikoff, Managing Director of MATH Venture Partners. “As a member of this community, I’m committed to supporting great entrepreneurs and disruptive technologies here. I believe Jiobit has both.”
“Only one year after our first shipment, this investment from our strategic partners provides Jiobit the opportunity to expand our product line into several new consumer markets including petcare and families with children who have special needs, bringing peace of mind to millions,” said John Renaldi, Jiobit Founder and CEO. “Both Jiobit and our recent investors are at the forefront of increasing connected technology for families, and we are excited to see what we can make possible through our latest funding.”
For more information on Jiobit visit https://www.jiobit.com/.
ABOUT JIOBIT:
Jiobit is the first of its kind patented location tracking platform, enabling the longest lasting and smallest real-time location products with best-in-class security. Jiobit is waterproof, durable, discreet, and provides accurate real-time tracking at any distance. Featuring a host of encryption and security technologies, Jiobit is trusted by federal government customers, law enforcement professionals, and thousands of pet owners and families, with usage in every populated continent in the world.
Jiobit’s first product, the smallest and longest lasting real-time location tracker for kids, was inspired after Founder and CEO, John Renaldi lost track of his then 6-year-old son at Maggie Daley Park in Chicago. Jiobit started shipping this year, and it is now being used by thousands of families across all 50 states. Jiobit’s solution for families is only the beginning of where the team will take this patented location tracking technology.
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MEDIA CONTACTS:
Hannay May
hannah@hercreativemedia.com
Sandalphon follows-on in The Minte’s $2.25m Seed II round
The Minte Closes $2.25M Seed Series II Funding Round, Brings Intelligent Tech to Luxury Housekeeping
- Hotel-style housekeeping company partners with luxury apartments, condos
- New funding round led by Dundee Venture Capital; brings total funding to date to $4.7 million
- 25,000 units served in Chicago, Washington D.C., with 12 new properties launching each month
CHICAGO–(BUSINESS WIRE)–The Minte, the company bringing hotel-style housekeeping to luxury residences at the push of a button, has closed a $2.25 million seed funding round led by Dundee Venture Capital.
Additional investors in the current round includes MATH Venture Partners, Revolution’s Rise of the Rest Seed Fund, Firebrand Ventures, Blue Note Ventures and multiple prominent angel investors. The round brings total funding to-date to $4.7 million.
Returning investors, in addition to Dundee, includes Sandalphon Capital, Network Ventures and M25 Group. The company will use the funding to further develop its one-button request technology, smart home integrations and mobile apps. The Minte also plans to expand into new geographical and residential markets, with over 30,000 units planned by the end of 2018.
“The Minte represents how an operationally intensive service business can be reintroduced to the consumer with technology and convenience in mind,” said Jonathan McCulloch, Partner at Dundee Venture Capital. “Bucking the trend of part-time workers and scheduling limitations, The Minte provides real-time ordering with its full-time employees, all of whom receive benefits. This transcends both technological and labor norms to establish a new house cleaning model. Run by a skilled team and with a growing network of partnerships, The Minte is already the leader in its class.”
Frictionless housekeeping for luxury residences
The Minte makes weekly, bi-weekly and even daily housekeeping affordable and frictionless. Housekeepers hail from venerable hotels including the Waldorf Astoria, the Conrad and Sofitel. Cashless payments, eco-friendly products and automated ordering give condo-, apartment-, corporate-housing and other full-time residents the clean polish of a hotel with the peace-of-mind of their own home.
“The Minte is about affordably maintaining the cleanliness of your home, which frees up time and relieves stress,” said The Minte CEO Kathleen Wilson. “Dundee and other venture partners have been incredibly supportive. Their guidance will be invaluable as we rapidly, sustainably scale and expand our services to residences around America.”
The Minte’s current housing partners include Greystar, Bozzuto, Golub, Lincoln Property Company, Waterton and RMK, among others. The company will continue to refine its successful core service while growing into a trusted staple in the multifamily landscape.
“As technology becomes pervasive across industries impacting everyday consumer activity, The Minte has recognized a significant market opportunity for affordable hotel-style housekeeping that it can capture beginning in metropolitan cities across the United States,” said J.D. Vance, Managing Partner of Revolution’s Rise of the Rest Seed Fund. “The Minte is another example of a great consumer technology company scaling outside of Silicon Valley and benefiting from its location between the coasts.”
About The Minte
The Minte is a Chicago-headquartered startup aiming to disrupt the status quo of housekeeping. Backed by Dundee Venture Capital, MATH Venture Partners, Revolution’s Rise of the Rest Seed Fund, Firebrand Ventures, Blue Note Ventures, Sandalphon Capital, Network Ventures and M25 Group, The Minte is partnered with a number of housing partners as it expands into condos, apartments and corporate housing in the United States and internationally. For more information please visit us at http://TheMinte.com and follow our page on Facebook.
Contacts
Treble
Ethan Parker, 512-960-8222
founder@treblepr.com
Sandalphon invests in St Louis-based Balto Software’s $1.2m Seed round
https://www.stltoday.com/business/columns/david-nicklaus/balto-software-raises-million-and-is-aggressively-hiring/article_3a3fd1fe-042a-5485-ad9d-7b7a20bbcc45.html