A group of investors affiliated with Jumpstart Foundry has taken the lead on a $1.2 million fundraising round for PandoDaily, the Silicon Valley news and event company. Sarah Lacy, the editor of the two-year-old site pictured here, says Jumpstart's role in bringing together the "unconventional group of investors" stemmed from her involvement with the Southland conference, which debuted last June.
$1.2 million is more than we initially set out to raise, and we are still wrapping up a few last conversations, so the final total may tick up to $1.5 million before it’s all done (I’ll update this post and our disclosure page if that happens). We were lucky to raise that money at a healthy valuation, which I won’t disclose, because no entrepreneur ever does if she can help it. The new investment brings our total raised to date to $4.2 million.
HT: Southern Alpha
Four-year-old business incubator Jumpstar Foundry is leaving the Solidus nest to become an independent entity. The venture has raised an undisclosed amount of money from an investor group led by Clayton Associates that will fund both its start-up program and its Jumpwerx arm that looks to stimulate innovation in established businesses. Twenty-one of the 27 JumpStart graduates are still around and have gone on to raise more than $11 million.
For Clayton, the investment rounds out the firm's lineup of investment vehicles. Chairman Stuart McWhorter says his firm “has always been passionate about seed and very early-stage investing. Our investment in Jumpstart provides our firm the opportunity to strengthen our presence in the seed stage investment cycle. It further enhances the continuum of venture capital investing by complementing our angel fund, Rolling Hills Ventures, and our venture capital fund, FCA Venture Partners.”
Franklin-based health care software company Relatient announced Tuesday it has received its first round of venture capital funding. The investment was led by Jim Sohr, the former president of AIM Healthcare, and also included an investment from Nashville serial entrepreneur Joe Storey, most recently of WedMedx. The money will enable Relatient to expand its sales force and build out its messaging product lineup. Relatient co-founder and CEO Sam Johnson said in a release the company plans to expand its regional reach into a national footprint.
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