CLEVELAND, June 20, 2016 /PRNewswire/-- StreamLink Software, the leading grant and board management software as a service provider, has closed on a $10 million Series A funding round. The round was led by First Analysis, with participation from existing StreamLink Software investors North Coast Venture Fund, Blu Venture Investors, Hyde Park Venture Partners, Hyde Park Angels, and individual investors and senior management. The company will use the investment to further develop its products and fuel growth in target markets.
"The grant management industry is evolving rapidly, as the federal government pushes both legislation and policy that call for greater transparency and accountability of funds spent," said StreamLink Software CEO Adam Roth. "This has resulted in a significant acceleration in market demand, specifically in the public sector. We already have a market-leading product, and the additional capital will allow us to further expand our offerings and reach. We are excited to add a respected firm like First Analysis to the fold, and look forward to leveraging its expertise in SaaS and human capital technology to further our mission of helping our clients manage their grant funds in a highly cost- and time-effective way, while ensuring strong outcomes and transparency for taxpayers."
"StreamLink Software is uniquely positioned to generate strong ROI for grant recipients and providers, as well as taxpayers," said First Analysis Managing Director Corey Greendale. "We were impressed with the company's market-leading products and customer-centric approach, which have positioned it as an industry leader in a rapidly expanding market. We look forward to working with the management team to advance the company's leadership in the grant and board management sectors."
In April 2016, StreamLink Software expanded its downtown Cleveland office to more than 12,000 square feet, adding space for the additional product development, sales and support personnel required to fuel its strong growth.
About StreamLink Software
Founded in 2008, StreamLink Software designs, develops and markets leading-edge process management tools for nonprofit and public sector institutions.
The company's flagship grant management solution, AmpliFund, captures grant information as data and automates hundreds of complex activities throughout the grant lifecycle. Its board management portal, BoardMax, helps organizations engage and communicate with board members. Both products are high-value, affordable software solutions, designed to help nonprofit and public sector entities maintain compliance, generate revenue and build capacity.
About First Analysis
First Analysis has one of the longest records (30+ years) in venture capital investing and has invested more than $750 million across 12 funds in three fund families. First Analysis excels at uncovering and leveraging the best opportunities in emerging high-growth segments in technology and health care for the benefit of the investors and growth companies we advise and serve. Integrated public and private company research underpins our success, yielding a deep, comprehensive understanding of each segment's near-term and long-term potential. First Analysis helps established companies become profitable leaders in large markets, funding growth plans and working closely with management in areas including strategy, recruitment, sales and marketing, and corporate development. Its flexible approach targets investing $3-10 million as lead investor or as a syndicate partner who brings valuable perspective to the table.
Jason Haddad, (216) 377-5500 ext. 1594
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SOURCE StreamLink Software