CLEVELAND, Nov. 10, 2016 /PRNewswire/ -- Heureka Software announced today that it has successfully raised $1.1 million in seed funding from local angel investors and Cleveland Venture Development Organization JumpStart Inc. The company further expects to raise that figure to $1.8 million in angel funding by year's end.
To date, Heureka has raised a total of $1.95 million, including a JobsOhio IOLF Loan of $750k, a $100k award from the Great Lakes Innovation and Development Enterprise (GLIDE) and their most recent $250k infusion of capital from the JumpStart Evergreen Fund.
"While the funding environment for startups nationally has been extremely competitive, the Northeast Ohio startup environment has improved dramatically in the last four to five years," said Heureka Founder and Chairman Ron Copfer. "This funding demonstrates that if you have a strong idea and a high potential for growth, the Northeast Ohio investor community and the State of Ohio will step up to support you."
"This funding is helping us make significant investments in the product development team, so that we have the architectural rigor and engineering craft necessary to develop and release new features very rapidly," said Heureka's VP of Product Development Mark Minehart. "Heureka Software Version 2.3 clearly demonstrates these investments are already helping accelerate our product momentum and speed to market."
Founded in 2014, Heureka is an enterprise software-as-a-service (SaaS) offering that provides organizations with vital surveillance over the increasing amount of dark data that is prevalent in the workplace. Dark data represents all electronically stored artifacts and files that are outside of core transaction-based systems and is growing at a rate of 62 percent per year. This unstructured data includes email, presentations, spreadsheets, word processing and a myriad of other electronic files stored on endpoints such as desktops, laptops and servers.
"Heureka has a strong veteran team in place and they are using an innovative approach to solve a real problem in endpoint file analysis and management," said Rem Harris, JumpStart's senior partner in charge of investing. "We are excited to be working with the Heureka team and eager to help accelerate the company's growth."
About Heureka Software
The Heureka Intelligence Platform (HIP) provides a unified framework that enables organizations to identify information and gather intelligence from their digital endpoints on a global scale, in real time. HIP allows organizations to discover and analyze unstructured data in-place for strategic, surgical incident and event response. For more information, visit www.heurekasoftware.com.
JumpStart unlocks the full potential of diverse and ambitious entrepreneurs to economically transform entire communities. For more information, visit www.jumpstartinc.org and follow @JumpStartInc on Twitter.
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SOURCE Heureka Software