[UPDATED] Flywheel Raises $8.4m For Collaborative Computational Science SaaS

Update 6/6/2019: Added another $2.5m per SEC filing = $8.4m total

Updated 4/1/2018: Finalized at $6m.

Updated 2/12/2018 9:00am CST – “$5m closed & oversubscribed” per Olson +  additional Google Cloud Healthcare API disclosure.

Original 12/10/18: Flywheel is seeking to close a $5m series A equity investment with $4.5m already captured, according to company leaders Jim Olson and Travis Richardson.

As an Invenshure portfolio company, Flywheel provides a collaborative data management and analysis platform built specifically for scientists and the researcher’s workflow.

We connected with the duo to learn more about their inflection point:

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Meet A Minnesota Tech CFO: Mark Sylvester, Invenshure

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Thanks to local commercial real estate pros CBRE for sponsoring the Meet A Minnesota Tech CFO series.

The CFO: Mark Sylvester, Invenshure

When and how did you get started in your finance career, specifically within the tech industry?

My career in corporate finance started the summer after 9th grade! My parents decided that my brothers and I would run short term retail outlets across different towns in northern MN for the entire summer. The only item that we were not responsible for was driving the load of merchandise from town to town. Other than that, we set up of the store, hired temporary employees, priced the merchandise, opened & closed each day, set up the tills, balanced
the register and generally oversaw the daily operations.

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Minneapolis ‘Venture Catalyst’ Invenshure Opens Boston Office

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Via News Release

“MINNEAPOLIS, Jan. 20, 2016 – Venture catalyst Invenshure announces the establishment of its new office location in Boston, Massachusetts. This new location will function as a strategic business development office, which will allow Invenshure to develop partnerships and to research new technologies and industries on the East Coast.”

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Evidentia Health Raises $1.2m Series A Led By Invenshure

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Via News Release

“MINNEAPOLIS, Dec. 10, 2015 /PRNewswire/ — Evidentia Health, Inc. announced $1.2m of Series A financing led by Invenshure, LLC, a Minneapolis-based biotechnology venture catalyst and incubator. This financing adds Evidentia to Invenshure’s portfolio of leading healthcare companies, including Exosite, Imbio, Flywheel, and OneOme.”

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Minnesota Startup Flywheel Exchange Throws Big Data At Big Billions

Northeast Minneapolis startup Flywheel Exchange is empowering researchers to concentrate more on the science and less on the IT.

Recently roped into the Invenshure portfolio, Flywheel ties the acumen of serial entrepreneurs Troy Kopischke and Danny Cunagin with technology sourced from Stanford University.

The data and algorithym management SaaS platform allows public and private scientific researchers to “crunch data like never before,” making it dynamic, reproducible and collaborative.  What’s at stake is a massive acceleration of global R&D as we know it, a space that commands hundreds of billions of dollars annualy.

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Invenshure-Backed Imbio Seeks $2.5m For Medical Imaging Software

Screen Shot 2015-09-08 at 11.40.26 AMMinneapolis healthtech startup Imbio is raising $2.5m in capital according this recent SEC disclosure, indicating just over $1m committed thus far.

Imbio’s specialty is medical imaging software for the diagnosis and tracking of seriously adverse medical conditions like chronic obstructive pulmonary disease and brain tumors.

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Big Data Genomics Startup OneOme Quietly Raises More Cash

Screen Shot 2015-08-05 at 8.03.11 AMOneOme, the product of a partnership between the Mayo Clinic & Invenshure, continues to raise early stage capital for their prescription medicine efficiency platform.

“OneOme analyzes patient DNA via the most complex multi-gene algorithm in the marketplace. Working with physicians and health care providers, we minimize errors and failures and advance efficacy and safety. Applied across the majority of pharmaceutical medicine, the result is an actionable, at-a-glance prescription recommendation report that is absolutely personalized to each patient. The next level of pharmaceutical efficiency and safety is here. “

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Updated: Minneapolis IoT Startup Exosite Receives Corporate Investment

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Updated 2/11/15 – Multiple sources are confirming $38.5 was the amount invested.

Via News Release

MINNEAPOLIS, July 22, 2015 /PRNewswire/ — Invenshure, LLC, a technology incubator and venture catalyst, today announce that Parker Hannifin Corporation (NYSE:  PH) completed a significant minority equity investment in Exosite LLC, one of Invenshure’s portfolio companies.”

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