Local startup accelerator’s funding program leads to first successful match with LeadCrunch acquiring $500,000 in matching funds.
SAN DIEGO (October 12, 2016) – CONNECT, a premier innovation company accelerator in San Diego that creates and scales great companies in the technology and life sciences sectors, announced today the first successful round of funding from its CapitalMatch program. The CONNECT CapitalMatch program is designed to introduce early stage life science and technology companies to potential sources of funding. After a round of intake panels and qualified investor screenings, companies are deemed ready for investment and introduced to interested investors.
“Based on the data in the last few Innovation Reports and what we were hearing from entrepreneurs, we knew we needed a robust effort to help identify and bring investment capital to San Diego,” said Greg McKee, President & CEO of CONNECT. “CapitalMatch was one of the first programs we started to connect entrepreneurs with capital and since we launched that in February we’ve also launched the FrameWorks Capital Track, the CONNECT Investor Syndicate on AngelList, and our Investor Circle all focused on the goal of helping entrepreneurs get the investment they need to scale.”
LeadCrunch is a customer discovery platform that makes B2B sales and marketing more effective and personalized. It collects vast amounts of data then uses artificial intelligence to find insights. LeadCrunch was the first company accepted into CapitalMatch, receiving $500,000 of funding from Bialla Venture Partners 2, LLC. ExCapsa Group is the lead investor. Both firms are based in San Francisco. Other investors include the former CEOs of Net Ratings, Goldman Sachs and FICO.
“We need capital to conquer a $160 billion industry. Common wisdom is that all venture capital is local. Yet, there are no B2B high-tech VC’s in San Diego. So we turned to CONNECT for help,” said Olin Hyde, CEO of LeadCrunch. “CONNECT’s CapitalMatch program provides a rigorous screening mechanism that is trusted and respected by investors. CONNECT was able to introduce us to the right capital resource, providing us with the necessary funding to take our company to the next level and remain in San Diego.”
Prior to entry into CapitalMatch, LeadCrunch was preparing to relocate to the Bay Area. “We had offers for funding that required us to move. Fortunately, CONNECT helped us find investors that recognized that staying in San Diego provided our company with the advantages of lower operating costs and recruiting and retaining great technical talent.”
LeadCrunch was previously incubated at UCSD’s StartR accelerator and EvoNexus. The company won “Cool Company” awards from the San Diego Venture Group in 2015 and 2016. CONNECT CapitalMatch provided the first introductions for LeadCrunch’s institutional funding.
Through programs like CapitalMatch, FrameWorks Capital Track, Investor Circle, and the Investor Syndicate, CONNECT is providing entrepreneurs with easier access to funding and furthering its mission of assisting in the creation and advancement of local San Diego companies.
CONNECT is a premier innovation company accelerator in San Diego that creates and scales great companies in the technology and life sciences sectors. By creating an environment in which entrepreneurs and C-suite executives have access to the people, capital, and technology resources they need for success, CONNECT has assisted in the formation and development of more than 3,000 companies since 1985. Widely regarded as one of the world’s most successful organizations linking entrepreneurs and C-suite executives with the resources they need for the commercialization of innovative products and services; our program has been modeled in more than 50 regions around the world.