The round is led by First Analysis and North Coast Venture Fund with participation from existing investors, including Hyde Park Venture Partners, Hyde Park Angels, Blu Venture Investors and North Coast Angel Fund.
"This latest financing round will help us ramp up sales and partner support in our enterprise customer segment," said StreamLink Software CEO Adam Roth. "Adding well-established local investors like JumpStart as part of our team increases our ability to execute on our business priorities. The value of local capital is enhanced via additional financing from outside Northeast Ohio, further driving business and regional growth."
JumpStart's investment in StreamLink Software comes from its for-profit NEXT Fund, which is designed to make Series A investments of anywhere between $500,000 and $1.5 million. This is the fund's ninth investment.
"JumpStart is very excited to be investing in StreamLink Software," said Rem Harris, JumpStart's senior partner in charge of investing. "Not only is the company on track for continued rapid growth in the heart of Cleveland, StreamLink Software also demonstrates that tech startups supported by local investors can grow and flourish in the region and become very interesting to large national investors."
"StreamLink Software is well-positioned for growth with a strong product suite, managerial team and customer base," said Dennis Grunt, managing director at Silicon Valley Bank in the Midwest. "Silicon Valley Bank is pleased to partner with StreamLink Software to provide the right financing to help the company be successful."
Launched in 2008, StreamLink Software has two popular products—BoardMax, which helps organizations engage and communicate with board members, and AmpliFund, the company's flagship grant management software. StreamLink Software currently has more than 40 employees and recently expanded into a new 11,000 square foot office in downtown Cleveland to accommodate future growth.