Midwest Funding Report: June 7th to June 13th

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release ([email protected]), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar.

Good strong week from the middle.  In particular, there were some interesting investments made in Kansas City and Omaha.  Propio Language had a very large round – $30M.  The company provides translation services for key industries, such as healthcare, to ensure that information can be seamlessly shared.  We also were really excited by Macedonia, Ohio based RevAir which is a new type of hair dryer.  It has new technology that helps hair dry faster and healthier.  Kentucky and Ohio continue to produce interesting technical hardware for water and electricity.  This has been a running theme over the last year where there are consistent fundings in these industries.  Overall, another interesting week in the Middle shows the depth of the entire region – including many second and third tier markets, not just Chicago, Minneapolis, and St. Louis.