More Money Coming To Cincinnati Startups
Cleveland-based venture development organization, JumpStart Inc., is looking to bring more money to Cincinnati startups.
JumpStart invested a total of $1 million in two Cincinnati-based companies Lisnr and EnosiX, as part of its recently closed $20 million Next Fund.
Ray Leach, CEO of JumpStart and managing partner of the for-profit fund, said the eight companies are some of the “most exciting high-potential startups in Ohio” that range from software and healthcare IT to business services.
The fund was designed to invest in startups that are “a little further down the development path” and have current investors looking for other co-investors to join them in those businesses.
“Both Lisnr and EnosiX have evolved to the Series A stage and are more mature companies in the tech industry that have been proven out,” Leach said.
He said the two companies were also appealing because they have secured an impressive initial set of significant companies and customers for their products.
Lisnr offers a high frequency, inaudible technology that allows companies to convert audio into data. It’s a communication tool that’s an alternative to Bluetooth.
Leach said Lisnr’s technology has gained traction with large sports franchises and Intel, a signal that the technology is applicable across the IT spectrum.
“We’re really excited about the markets that their technology can penetrate,” Leach said.
EnosiX is a software company that built a Framework for companies to quickly and affordably manage SAP-integrated mobile apps with minimal coding.
EnosiX received the money last fall and used it to launch a new product line that integrates Salesforce with SAP.
Read the full article at Cincinnati.com.