24 Minnesota tech ventures top $58m in capital raised for Q1 2012

by Zach Robins


At least 24 early-stage Minnesota tech companies raised a cumulative $58.6m in financing according to information collected and analyzed for the first quarter 2012 Capital Review.

Excluding Code 42 Software’s behemoth $52.5m first round, 23 companies raised $6.1 million, a more balanced picture of Minnesota’s tech investment climate on record for the start of this year.

21 of those 23 raised $3.9m in capital under the Minnesota Angel Investor Tax Credit within the first 90 days of the year, so says DEED’s data. Approximately 33 cents of each dollar invested through the program went into IT, Software, web, mobile, hardware, and telecom areas.

This data set does not include off-the-record and otherwise publicly undisclosed transactions; for a comprehensive historical review of Minnesota tech fundraising over the past few years, see: 2010; Q1 2011; Q2 2011; Q3 2011; Q4 2011. If anything was missed, please leave a note in the comments section and we’ll update.
KC Associates

Date Type Company Amt. Note(s)
Q1 AITC Anser Innovation $167.5k
Q1 AITC Argos Risk $150k
Q1 AITC AsystMe $87.5k
Q1 AITC CaSTT $125k
Q1 AITC (Cloud) Sports Data $1m
Q1 AITC Conservis $520k
Q1 AITC Empathic $100k
Q1 AITC Exosite $50k
Q1 AITC Instant Wireless Interpretation $71k
Q1 AITC Invenshure $436k
Q1 AITC Jericho Ventures (stealth) $10k
Q1 AITC LeagueSafe $50k
Q1 AITC LocaLoop $372k
Q1 AITC MIDART Communications $35k
Q1 AITC MBioX $25k
Q1 AITC Real Time Translation (stealth) $220k
Q1 AITC riteSOFT $250k
Q1 AITC Seeonic $150k
Q1 AITC Standard Health (stealth) $25k
Q1 AITC The Living Tree (stealth) $10k
Q1 AITC Vertical Health Solutions/OPMD $25k
3/16/12 Equity Indigo Identityware $200k
1/1/12 Equity Datacom $2m
1/18/12 Equity Code 42 Software $52.5m


  • http://www.marketingshow.com Clay Collins

    Congrats to everyone who raised funding in Q1.  And to everyone who got acquired or went public . . . please consider re-investing locally and/or becoming an angel.