OKLA. CITY —
VentureSpur announced Friday that RaiseMore, a participant in the accelerator’s inaugural 2012 program, has closed a Series A venture capital investment in excess of $500,000.
Capitalizing on momentum gained at VentureSpur Pitch Day 2012, the funding round was provided by a group of Oklahoma investors who had become aware of the company through VenturSpur’s acceleration program.
VentureSpur is a seed fund and venture accelerator located in Oklahoma City. The accelerator provides startups with seed investment, a 12-week “boot camp,” mentorship from successful entrepreneurs, office space, free services and access to venture capital, in exchange for equity.
RaiseMore was launched in 2012 during the accelerator program as a spin-off of the PigeonMe platform and provides nonprofits with map-based mobile and web applications to manage run/walk/jog fundraising events.
RaiseMore credits their VentureSpur experience, and the contacts and knowledge they gained through the program, for their fundraising success.
“We met our investors through events at VentureSpur, and were able to put what we’d learned in the program to use during our pitch and negotiations. It was really an amazing experience,” said Devan Twyman, CEO of RaiseMore. “VentureSpur’s mentors were there with us, every step of the way.”
The new investment will allow the company to launch its 2013 growth and development plan, including hiring additional staff, completing a new version of its product and starting an ambitious national sales plan.
“This team has proven what can be accomplished with a few seed dollars, a little bit of courage and a lot of vision and heart,” said Kraettli L. Epperson, managing director of VentureSpur. “This is exactly what the accelerator is all about: Giving inspired entrepreneurs a chance to take their company to the next level of success, quickly and efficiently.”
RaiseMore already had achieved significant success during the program, completing an event for the Alzheimer’s Association and signing a partnership agreement with one of the nation’s largest providers of websites to nonprofits.
“Having a company like RaiseMore close on a venture capital round is exactly the validation we were seeking,” Epperson said. “We’re expecting even more exciting things in 2013 as we announce Fund II and our next program.”
FOR MORE information, visit www.VentureSpur.com or visit www.RaiseMore.com.