Portfolio news - March 2017

March was another busy month for VentureSouth portfolio companies. Here are a few of our favorite stories.

The Upstate Business Journal's "Startups to Watch" featured several VentureSouth portfolio companies, including TipHive and Ellipsis.

Kwipped expanded its services to offer "white glove delivery service" to take the complexity out of shipping and returning the assets you rent from the marketplace. And, if somehow you missed it, it had a nice write up in Electrical Engineering times.

Medical device manufacturer Pharmright added to its sales team - welcome Shannon.

And in the biggest news this month, Pete Durand and Rival Health announced a merger with gBehavior to create a comprehensive wellness platform with offices across the southeast. Congratulations to Pete and the team, and good luck on the next stage of the journey.

PS - Know anyone that would like to be an Optical Development and Test Specialist?

Portfolio news - February 2017

Since the last set of portfolio news in January, VentureSouth investment companies have achieved recognition in many areas. In addition to Baebies' FDA approval, here are other examples:

Zipit Wireless: named in Gartner's Market Guide for Clinical Communication & Collaboration report.

Brightfield: profiled by UNC TV as part of their program about Asheville's Collider.

Several others added to their already impressive teams:

Kwipped: hired a CTO, Wellington Souza (and continued receiving positive press in trade magazines like For Construction Pros and Lab Manager, and local newspapers).

Avadim: hired a new chief medical officer, Dr Joseph Renzulli, and their newest board member, Humberto Antunes, won a Lifetime Achievement Award at the South Beach Symposium.

Others still announced sales growth and other partnerships, like:

Vendor Registry: is now being used by Myrtle Beach's procurement division.

TipHive: agreed a new partnership with a large Papa Johns franchisor, to help information sharing within the franchise network, and was featured in the MMM SE Tech Podcast series - to which you should subscribe.

And the final award of the night goes to Emrgy, voted the best startup in Georgia (1-10 employees) by the Atlanta Business Chronicle.

More portfolio news - October 2016

October has been a busy month, especially for the medical companies in our portfolio. Here are their further highlights.

Pharmright: Reached passed important milestones - production coming from its Maine manufacturing facility and product being shipped to customers. Many congratulations.

OB Medical: After announcing the LaborView at the AHWONN conference in June, maternal-fetal monitoring device manufacturer OB Medical began supplying their device to delivery rooms across the US. Congratulations to them too!

Avadim: Triple good news for our Asheville portfolio company, Avadim, which announced a partnership with the National Wrestling Coaches Association to prevent skin infections in wrestlers, enjoyed coverage for its continuing record revenue growth, and announced its roll-out of consumer products when Theraworx Relief hits the shelves next year.

And not strictly "portfolio news," these two articles are interesting insights into two portfolio companies:

  • This profile of Baebies' co-founder and president Vamsee Pamula explains his background and reveals much about what makes a stellar entrepreneur.
  • This article by Arjun Sethi explains at length why the "hive" is a great communications platform - and shows why we are excited to support TipHive.

Upstate Carolina Angel Network and Palmetto Angel Fund Invest in Greenville Startup TipHive

Greenville, S.C. – The Upstate Carolina Angel Network (UCAN) and The Palmetto Angel Fund are pleased to announce the closing of an investment in local startup company, TipHive.

TipHive is a cloud-based software platform for improving knowledge sharing and communication within enterprises, using “hives” that can store, share and search any topic. The company located in Greenville as part of the 2013 class of the local Iron Yard startup accelerator. 

Joost Wentink, Founder & CEO of TipHive, said “Our goal is to build a global tech player right here in Greenville. Having UCAN join our team is a big step toward achieving that goal and shows the commitment of the Greenville business community to invest in innovate companies that are taking on big opportunities. Their active involvement in developing the business has already had significant impact.” 

UCAN is an affiliate of the South Carolina Angel Network (SCAN), a professionally-managed network of 8 local angel groups comprised of over 200 angel investors working to make a more efficient market for early stage capital in and around South Carolina. The Palmetto Angel Fund is an affiliated committed capital fund that co-invests alongside SCAN investor groups. 

Matt Dunbar, Managing Director of the UCAN and SCAN noted “We are excited to back Joost and the TipHive team. Their platform is clearly solving a pain point in enterprise communications, and we’re encouraged by the early traction they’ve gained with significant customers.” 

In addition to TipHive, SCAN and the Palmetto Angel Fund also recently invested in Charleston-based startup Pharmright, producer of the Livi home automated medication dispenser to improve medication adherence.