VC Report: Q1 2017 investments in Indiana technology companies

2016 proved to be another standout year for investments in Indiana technology companies with a total of 23 deals at a combined fundraise amount of $51.51 million, equating to an average deal size of $2.2 million.

According to the PricewaterhouseCoopers/CB Insights report, Q1 2017 venture investment in Indiana companies totaled $27 million through 11 deals. Of that amount, $25 million and 9 deals were specifically in tech companies.

Below is a list of public investments into Indiana technology companies that occurred in the first quarter of 2017.

Education tech startup and High Alpha portfolio company ClearScholar announced that it raised $1.25 million from Elevate Ventures and Simon family members. The company launched last fall through a partnership with Butler University.

Behavioral marketing platform SmarterHQ announced that is raised $13 million from Boston-based Spring Equity Partners, Battery Ventures and Simon Venture Group. The company plans to use the funding to expand operations and its client base.

Healthx, a cloud-based digital engagement solutions integrator for healthcare payers and stakeholders, announced a strategic growth investment from JMI Equity for an undisclosed amount of money.

Blue Pillar, an internet of things (IoT) company focused on the energy industry, announced a $10 million raise from new investors GXP investments and Elevate Ventures alongside EnerTech Capital, Allos Ventures, Arsenal Venture Partners and Claremont Creek Ventures.

Boosterville, an offers and loyalty platform that seamlessly connects merchants with cause-driven buyers, announced a $830,000 raise co-led by 316 Investments and VisionTech Angels with a matching investment from Elevate Ventures.

Manufacturing software company Lumavate announced a $2 million raise led by former Interactive Intelligence CEO Don Brown. Funding will be used to explore product development opportunities with the internet of things.

Curvo Labs, which provides software solutions to manage clinical expenses for hospitals, announced a $900,000 raise led by Elevate Ventures and recently-appointed advisors. To date, the company has raised $2.1 million after launching in 2013.

Kinney Group, a cloud solutions integrator serving the Global Fortune 2000, IT-centric mid-market companies, announced the close of a $6 million raise led by Plymouth Ventures and Elevate Ventures.

How does this quarter stack up to 2016? See more investment reports here:

Each quarter we report public investments in Indiana technology companies. Interested in sharing your funding deals? Email Sara Croft at sara@techpoint.org

Blue Pillar

CATEGORY: Energy Technology, Internet of Things (IOT) CITY: Indianapolis

Blue Pillar’s award-winning Aurora® Energy Network of Things™ platform is the first solution to connect behind-the-meter distributed energy

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Healthx, Inc.

CATEGORY: Healthcare Technology, Technology/Services CITY: Indianapolis

We improve the healthcare experience for everyone.

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Kinney Group

CATEGORY: Cloud/Hosting Technology, Technology/Services CITY: Indianapolis

Kinney Group is a cloud solutions integrator harnessing the power of IT in the cloud to improve lives.

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Lumavate

CATEGORY: Manufacturing Technology, Mobile Technology CITY: Carmel

Lumavate provides customer engagement software that turns a fragmented customer experience into an unforgettable brand experience

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SmarterHQ

CATEGORY: Big Data/Analytics, Marketing/Sales Technology CITY: Indianapolis

SmarterHQ is a multi-channel behavioral marketing platform that empowers B2C marketers to personalize customer interactions in real-time.

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ABOUT THE AUTHOR

Sara Croft is the director of communications at TechPoint. She writes about Indiana tech companies, jobs, people and events. Reach out to Sara @saraelysecroft.