With 2016 in the rearview mirror, Insider reached out to Lisa Bajorinas, executive director at EnterpriseCorp, to see how Louisville’s early-stage companies fared last year when it came to investments. Turns out, every company in the Top 10 list came away with more than $1 million.
Entrepreneurs seeking to create a startup in 2017 take note: more than half of the Top 10 early-stage companies receiving investments were related to health care.
MobileServe and Capture Higher Ed each received $1 million in investments. MobileServe, led by Ben Reno-Weber, helps nonprofits track volunteerism. Capture Higher Ed, led by serial entrepreneur Steve Huey, helps colleges and university better target and market to potential applicants.
Sunstrand landed $1.2 million in investments. Sunstrand creates biomaterials as plastic replacements. The fibers are compatible with most major resin and manufacturing techniques and can be used in consumer materials, sporting equipment, vehicles and as building materials, the company says.
Insider Louisville received $1.5 million in investments from various sources last year.
The smart medical device company, MobileMedTek, received over $2.2 million in investments in 2016.
Game-theory analysts at Edj Analytics can help interpret and predict data on everything from football to health care. The company had $2.4 million in investments last year.
The Gill Holland-led community revitalization project, the Portland Investment Initiative, continued to raise money in 2016, with over $2.6 million in investments from several sources.
Healthcare Asset Network received $3 million in investments last year. The company helps health care organizations sell excess medical assets to other organizations in their network.
iHealth Solutions provides revenue management and other technology to health care practices of all sizes. The company received an investment of $7 million.
And, of course, the whale of the year goes to Apellis Pharmaceuticals. The company said it completed a $47.1 million Series D preferred stock financing, co-led by new investors Cormorant Asset Management, Hillhouse Capital Group and venBio Global Strategic Fund, joining existing investors Morningside Venture Investments, AJU IB Investment and Epidarex Capital, according to a press release. Apellis is a clinical stage biopharmaceutical company focused on solutions for autoimmune and inflammatory diseases. It said the proceeds of the financing would be used to further advance clinical trials in its complement immunotherapy programs.