St. Louis Business Journal: Capital Innovators invests in 6 new startups

Sep 19, 2016, 7:00pm CDT

Capital Innovators operates out of the @4240 building in the Cortex innovation district in Midtown.  Written by Brian Feldt, Senior Reporter, St. Louis Business Journal

Capital Innovators, the St. Louis-based technology startup accelerator, has invested in six new startup companies that will participate in its three-month program starting next week.

Each of the companies will receive $50,000 in exchange for an equity stake of between 5 percent and 10 percent.

Brian Dixon, COO of Capital Innovators, said the accelerator received hundreds of applications. This cohort includes one St. Louis company — Appbase, which was brought to St. Louis last year when it received a $50,000 non-equity Arch Grant — three out-of-state startups and one company from Israel.

Here is the list of new Capital Innovators startups:

– Appbase(St. Louis) is building a streaming database for powering Internet of Things-age software. Led by CEOSiddharth Kothari.

– Collabra(Louisville) has developed a suite of ed-tech tools helping arts instructors and their students save time, meet institutional and state requirements, ensure accountability, easily exchange feedback, accelerate growth and quantify results. Led by CEO Ron Karroll.

– Heartbeat(Israel) has developed an algorithm that enables doctors, nurses and patients to monitor hemodynamic parameters and provide care management with actionable information to help prevent hospital re-admissions and advanced remote monitoring. Led by CEO Michael Kasan.

– RippleNami(San Diego) is a business-to-business technology company working in developing nations to deliver mapping solutions that solve critical problems. Led by CEO Jaye Connolly-Labelle.

– Stratifund(Minneapolis) is a provider of independent equity crowdfunding due diligence and ratings to help investors make informed investment decisions. Led by co-CEOs Marc Snover and Alex Thaler.

– Sunstation USA(Kansas City) has developed weather resistant, all-natural, touch-free sunscreen dispensers. Led by CEO Ross Donaldson.

Capital Innovators, which operates out of the @4240 building in the Cortex innovation district in Midtown, was founded by CEO Judy Sindecuse in 2010 at a time when the term accelerator was just catching on in Silicon Valley entrepreneurial circles.

To date, Capital Innovators has invested nearly $6 million into 70 companies. Those companies have created 667 jobs and have raised $185 million in follow-on capital following their participation in the Capital Innovators program.

A study published by investment research firm CB Insights found Capital Innovators was the third best accelerator in the country for post-program money raised by startup founders.

To that end, Sindecuse last year launched a follow-on investment vehicle for Capital Innovators portfolio companies called the Lindbergh Technology Fund.

Here’s a look at some of the biggest deals Capital Innovators portfolio companies have closed to date:

  • Gainsight’s $50 million round led by Insight Venture Partners (November 2015)
  • Gainsight’s $25 million round led by Battery Ventures and Summit Partners (November 2013)
  • Gainsight’s $20 million round led by Bain Capital (October 2014)
  • Norse Corp.’s $11.4 million round led by KPMG Capital (October 2015)
  • LockerDome’s $10 million round led by Cultivation Capital (December 2014)
  • Label Insight’s $10 million round led by KPMG Capital (February 2016)

 

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