“MyAlerts is an engagement platform for consumers to design their own custom alerts and for marketers to connect with them. In the retail space, we’ve closed a number of large companies on this model and the core business is growing nicely. We needed a small amount of cash quickly now,” he explains, “To expand into a new vertical, bring us cash flow positive and set us up for a larger series B round down the road.”
Starting in January 2017, we will publish a new monthly column related to a potential financial element of owning and operating a technology company in Minnesota.
Welfare Watch will spotlight individuals, nonprofit and private companies in the local tech industry who are receiving government (read: taxpayer) financial support or subsidy — tax incentives, grants, interest free loans, reimbursements, special favors — whether directly or indirectly.
The column will be forward looking in the sense that only corporate welfare happening in January 2017 and after will be watched.
Launched in 2012 and led by CEO Ben Cattoor, Foodsby is like a virtual food truck network that uses an online ordering platform to pool and optimize everday food delivery services to corporate organizations.
Via News Release
“MINNETONKA, Minn., Dec. 1, 2016 /PRNewswire/ — MedNet Solutions, an innovative SaaS-based eClinical technology company that supports the entire spectrum of clinical research, is pleased to announce that Arrowroot Capital, a growth equity firm focused on software-as-a-service (SaaS) and Internet-based businesses, has led a new $16.5 million growth investment in MedNet Solutions.”
Via News Release
“Minneapolis, MN, November 28, 2016— The Minneapolis Institute of Art (Mia) is pleased to announce the winners for the Museum’s 3M Art and Technology Award competition — Molly Reichert and Ben Arcand.
The award, launched in 2015, recognizes artistry and innovation among individuals working in the field of technology. Reichert and Arcand, of the Twin Cities, have been awarded $25,000 in prize money and an additional $25,000 to support the development of their invention, under the working title of “Divining Rods”. The project is a technology-based reimagining of the ancient tools once used to find things of value – such as precious gems or fresh water.”
By Shannon Prather and Liz Sawyer, Star Tribune
“Give to the Max Day, a 24-hour online giving marathon annually designed to spur generosity, instead fueled frustration Thursday as donors and nonprofits dealt with seven hours of website problems that took the zip out of giving.
OneMedNet specializes in the exchange of medical imaging. Their flagship BEAM software suite features an array of features for providers and patients to securely and quickly share information across a number of devices and networks.
Sezzle is a merchant processing platform for businesses to save money on their ACH transactions while consumers receive cash back rewards for purchases. “Works like debit, rewards like credit,” is the motto.
Via News Release
“On November 9th 2016, the Minnesota Department of Commerce announced VentureNear.com as the initial portal operator for the investment crowdfunding legislation known as MNvest. In order to generate funding under the MNvest law, business owners must use an approved and registered portal system. As the first and (currently) only approved investment portal, VentureNear’s secured online portal allows Minnesota investors to invest in startup and growing businesses and receive equity or a promissory note in return.”