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Two Philly-Area Tech Firms Raise $8.25 Million Combined
It's a good time to be in the data analytics game.
Cloudmine and Agilence just got millions in funding.
Just days apart, two local tech firms raised a combined $8.25 million in separate deals. Here’s a breakdown:
Agilence: $6 million
Agilence is based in Mount Laurel, N.J. and delivers cloud-based data analytics solutions for retail, and food-and-beverage organizations. Its data solutions help empower businesses to make informed decisions faster and more efficiently. Over the last 18 months one of its tools has been implemented by more than 50 retail and food & beverage organizations in the United States, the company says.
It raised $6 million in new funding led by Arrowroot Capital which is based in Santa Monica, Calif. Additional funding was provided by previous investor Aster Capital, which is based in Paris.
Russ Hawkins, president & CEO of Agilence, said in a statement that the “new round of funding will help accelerate our growth in the retail space, while also allowing us to expand into new markets.”
Cloudmine: $2.25 million
Cloudmine is based at 12th and Sansom Streets in Center City. It helps businesses develop mobile applications by using cloud-based technology to leverage large data sets and ultimately reduce a customer’s time to deployment and total cost.
Technical.ly Philly reports that the company raised $2.25 million in a Series A filing which brings that round up to $7.25 million. The round was led by Radnor, Pa.-based growth capital provider Safeguard Scientifics.
Cloudmine CEO Brendan McCorkle told Technical.ly that the company plans to use the money to invest in security for its health care customers’ compliance concerns. Here’s the company’s SEC Form D filing.
