Cleveland-based StreamLink Software received $3.5 million for its series A funding round, a statement about the financing said.
The round for the software-as-a-service technology provider was led by a group of angel investors in Ohio. Hyde Park Venture Partners, Hyde Park Angels, Blu Venture Investors and North Coast Angel Fund also participated in the round. Proceeds from the round will be deployed towards ramping up the firm's sales and marketing efforts. It will also be used to continually innovate its product as well as to support what the company calls "new industry segments."
StreamLink Software provides software products, such as grant management and board management software, to nonprofit organizations and the public sector. AmpliFund and BoardMax are its two primary offerings which enhance efficiency, simplify activities and get more revenues while making straightforward the difficulties that come with board and grant management.
In a statement about the funding, StreamLink Software Founder and Chief Executive Officer Adam Roth said, "As compliance requirements continue to become more complex, there is a growing demand for transparent, efficient and centralized process management structures and technology. This investment will allow us to accelerate our growth and continue to transform the way organizations run their businesses."
AmpliFund frees up an organization's valuable resources by automating complex activities that will be undertaken through the grant lifecycle. BoardMax, meanwhile, allows organizations to save time and funds even as it reduces risk and gets the board more involved, the statement said.
Some of the organizations using StreamLink Software include Ronald McDonald House Charities, Catholic Charities USA, Monroe Community College, College of Lake County, Christian Brothers University and American Endowment Foundation, among others, the statement said.
North Coast Angel Fund Executive Director and StreamLink Software Director Todd Federman said in the statement, "StreamLink Software has experienced remarkable growth and is transforming the way organizations manage their grant processes and board communications."
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