Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndiana technology companies have increased venture capital fundraising efforts in the second quarter, led by both high-profile and some lesser-known upstarts.
From April 1 to June 30, Indiana software firms and technology-enabled companies sought to raise a total of $54.7 million, according to an IBJ review of Securities and Exchange Commission filings. In the first quarter, that figure was about $38.6 million.
The totals only represent what the companies are seeking in a fundraising round, not what they've actually raised. Some companies exceed or fall short of their goals, and some rounds start in one quarter and end in another.
The second quarter still stands to be bigger than the first quarter. Earlier this month, former ExactTarget CEO Scott Dorsey announced that his "startup studio" High Alpha recently secured $35 million from venture investors, and Bluebridge Digital, a software-as-a-service firm that builds and manages mobile apps, announced a $2 million raise.
The final tally for first-quarter fundraising was about $17.5 million, according to The MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association.
SteadyServ Technologies, a beer-management software firm, and The Odyssey, which runs a fast-growing media website, recently disclosed in SEC filings that they're after notable funding rounds—$6 million and $4.2 million, respectively.
SteadyServ raised $5.5 million in February and The Odyssey raised $3 million in May.
Other firms that sought investor capital in the second quarter include Fishers-based Recovery Force LLC, which makes compression wraps and sleeves using algorithms and metal alloys, and Indianapolis-based Healthcare Anywhere LLC, a telehealth software firm. The firms sought $3 million each.
Please enable JavaScript to view this content.