This is an exciting transaction for VentureSouth. The first and most important reason is to be able to work with John Dillard and his team of "JCs" - Jessica, Jonathan, James - and others, to make NISPOM compliance easier and all of us a little more secure!
We're also delighted to have led the round based on a major investment from VentureSouth Charlotte, which is really hitting its stride; to have invested with the Venture Capital Multiplier fund and other new partners; and to have oversubscribed the round in record time, so John can move from fundraising to execution quickly.
This investment demonstrates the power of the VentureSouth model: lots of angels bring capital and expertise + thorough but rapid diligence + efficient investment structuring = capital deployment + wealth creation + job growth.
Best of luck John...
VentureSouth invests in Threatswitch, a Charlotte-based compliance software platform
FOR IMMEDIATE RELEASE
Contact: Mac Lackey
Charlotte, N.C. – VentureSouth and Threatswitch are pleased to announce that the angel investment network has led an investment in the Charlotte-based software platform.
VentureSouth is an angel investment firm that invests in early stage companies across the Carolinas. Its Queen City affiliate, VentureSouth Charlotte, was launched in 2016 and its members have already invested in over a dozen companies.
The most recent was in Threatswitch, a security and compliance software platform for defense contractors and other heavily-regulated companies. VentureSouth led, and were the largest investors in, an oversubscribed investment round of $1.2 million. The round included both existing investors and new supporters including the North Carolina Venture Capital Multiplier Fund, Chapel Hill investor Alston Gardner, and Washington, DC-based Riverbend Capital.
John Dillard, Founder and CEO of Threatswitch, announced the investment. “We are delighted to have completed a substantial capital round to grow our business, and to be working with VentureSouth. Their thorough but efficient diligence process, their investment structure, and their connections and fundraising guidance have already been immensely valuable to Threatswitch. I’m excited about using this capital to continue growing a great business.”
Mac Lackey, Venture Partner at VentureSouth and leader of VentureSouth Charlotte, commented that “Having been an entrepreneur in Charlotte my whole life, I was excited to launch a VentureSouth group here. Since our first meeting in 2016, our members have been able to build a diverse portfolio of investments, including several in Charlotte. John and the Threatswitch team are talented entrepreneurs of the caliber we need to continue growing Charlotte’s entrepreneurial community.”
VentureSouth has invested over $25 million in 60 companies to date. To learn more about VentureSouth please visit www.venturesouth.vc; to learn more about Threatswitch please visit www.threatswitch.com.