May 13 turned out to be a big day for CincyTech portfolio companies in the national media.
The CNBC Disruptor 50 is a list of “private startups that are revolutionizing the business landscape”… innovators that “may be tomorrow’s Wall Street highfliers.”
Congratulations to CEO/co-founder Rodney Williams and the LISNR team!
Ahalogy, a portfolio company which helps brands optimize their marketing on Pinterest, is one of ten marketing technology companies named to Pinterest’s new Marketing Developer Partner program. According to a Pinterest blog post, “The (program) is made up of a limited, carefully selected group of developer partners who meet the needs of existing businesses on Pinterest and align with our core value of putting Pinners first. We’re committed to helping these developers build custom tools and services on our APIs so businesses can use Pinterest more effectively.”
The Ohio Third Frontier has awarded a $1.2 million loan to BlackbookHR, a company that delivers award-winning HR SaaS solutions to help companies measure employee engagement and retain their best team members. The money comes from the Commercial Acceleration Loan Fund (CALF), which helps early stage companies, that are poised for growth, speed the commercialization of their product and bring them into the marketplace.
“We are supporting the problem-solvers and businesses that are building a new Ohio,” said David Goodman, director of the Ohio Development Services Agency and chair of the Ohio Third Frontier Commission. “Our investments are the foundation, creating new opportunities for Ohio technology companies that could save lives and change the way we work and live.”
“It’s gratifying to do business in a state that believes in supporting and incubating companies with high growth potential,” said BlackbookHR CEO Chris Powell.
The loan will help BlackbookHR accelerate product development of its RNA, Presto, and Sense products, increase the speed to market of new product features, and scale sales.
We are proud to announce CincyTech’s latest portfolio company investment: StreamSpot. StreamSpot enables simple, high quality live and on-demand streaming from churches, synagogues and events, has closed a round of seed financing. CincyTech and Connetic Ventures co-led the round, with participation from OCEAN Capital. The funding amount is undisclosed.
StreamSpot was founded by Brian and Laura Duerring. The couple met while working in television news, he in broadcast operations and she in new media. The idea for StreamSpot struck when the two were engaged and their pastor was late for a meeting with them.
“We developed StreamSpot to solve a problem for a single church in Milford, Ohio,” recounted Brian Duerring, co-founder and CEO of StreamSpot. “Our pastor was returning from a nursing home, where he’d been playing back his sermons on a tape recorder. While it was a radical idea at the time, we offered to outfit the church with live streaming capability for those who could not attend services, due to difficulty or distance. We knew the process had to be simple, with minimal action required by the church staff.”
Customers in more than 40 states and three countries now use StreamSpot’s all-inclusive solution to deliver high quality live and on-demand broadcasts. StreamSpot’s patent pending automation software differentiates itself from other streaming options, requiring no interaction to start or stop scheduled broadcasts or create an archive. StreamSpot provides everything needed to have a new customer streaming within minutes to any internet-connected device.
“Brian and Laura are a great team to capitalize on the streaming services market,” said Justin Thompson, principal at CincyTech. “They’ve already gained impressive traction.”
“We believe StreamSpot is poised to become a market leader, and potentially become a verb in our language,” said Brad Zapp, founder and CEO of Connetic Ventures.
StreamSpot is also receiving financing from OCEAN Capital, a group of investors backing the OCEAN accelerator, the nation’s first independent, faith-based accelerator.
“We are thrilled to be working with three incredible investors,” said Laura Duerring, president and co-founder of StreamSpot. “The funding will allow us to accelerate the innovation of new features for our proven product, and to enhance our sales and marketing efforts.”