Clayton Associates’ FCA Venture Partners has placed $1.5 million with Catavolt Inc., an Atlanta-based mobile application software development company. Also in on the deal was angel investor and Clayton advisory board member George Salem, according to a statement.
Catavolt’s creation, dubbed Catavolt Extender, is a “hybrid cloud service” package that connects a client company’s enterprise data — large-scale blocks of information — to specified mobile phones in real time. To put it in the company's words: “The idea is to deliver mobile phone applications without the expensive need to develop proprietary software to process information on the client end. Catavolt's unique approach, based on its patent-pending Dual Model Architecture, enables organizations to rapidly create and deliver mobile applications to business users without the need for costly and traditionally resource-intensive software development projects.”
Mobile application software development has of late captured the interest of local investors. We reported just this week on the launching of Streamweaver, a split-screen mobile video application company initially funded by two TNInvestco participants, Mountain Group Capital’s Limestone Fund and the Tennessee Communities Venture Fund. Funding levels weren’t specified for either fund.
Chris Thompson and Will Green have secured more than $2 million from a handful of investors for their SplitSecnd car crash notification system. The company has filed a notice with the Securities and Exchange Commission; Milt Capps reports that TNInvestco fund Tennessee Community Ventures now owns a majority of the company launched some two years ago with the help of the JumpStart Foundry team.