StreamLink Software Announces $600,000 Series A Round of Financing
Software company developing solutions for nonprofit organizations receives investment from the North Coast Angel Fund to expand operations and accelerate growth
CLEVELAND, OHIO — December 17, 2009 — StreamLink Software, a provider of nonprofit software management systems, announces $600,000 Series A round of funding that will help the company continue to expand its operations and accelerate its growth strategy. The Series A round of financing was led by the North Coast Angel Fund. This funding complements a $100,000 Innovation Fund grant from the Lorain County Community College Foundation that was awarded in September.
“We’re excited to have the North Coast Angel Fund participate in this investment round”, says Adam Roth, President and CEO of StreamLink Software. “In addition to dollars, North Coast’s investors bring expertise and a proven track record in developing high growth businesses.”
“StreamLink has developed a powerful set of tools for nonprofit organizations to improve board management and grant management activities,” says Todd Federman, Executive Director of North Coast Angel Fund. “We were extremely impressed by their clients’ enthusiastic support of both products.”
“Recent endorsements by the United Way of Greater Cleveland and the American Association of Grant Professionals demonstrate that StreamLink is addressing unmet needs in the nonprofit world,” said Clay Rankin, Managing Member of North Coast Angel Fund. “It is increasingly clear that StreamLink’s solutions allow nonprofits to better manage board and grant activities so that they can focus more time and resources on their core missions.”
"I am delighted that StreamLink Software is taking a leadership position in addressing the needs of the nonprofit sector," says Ronn Richard, President and CEO of The Cleveland Foundation, the oldest and second largest community foundation in the country. "With one of Greater Cleveland’s strongest assets being its philanthropy, I am excited about the growth potential of this startup, not only in the Greater Cleveland area, but nationally. We clearly see the value the software delivers to nonprofit organizations, as the Cleveland Foundation is an early adopter of StreamLink Software."
StreamLink Software also announced several additions to its management team: Dave Carpenter is Executive Vice President of Business Development and brings over 15 years of experience in partnership deal aggregation, M&A and financial analysis. Prior to StreamLink Software, Dave was the Vice President of Business and Corporate Development of AGIP, a $100 million division of American Greetings, $2 billion consumer products company. John Regal is Executive Vice President of Information Technology and brings over 20 years of experience with Information Services. He has extensive experience in software development management and support with many successful startup organizations including BEA Systems, Flashline, and Parallax MicroSystems. Nikki DiFilippo is leading the marketing efforts and brings over 18 years of experience in marketing for high-tech startups including Flashline, Parallax MicroSystems and NACSCORP.
In addition to these key hires, StreamLink will look to bring on several other people in the areas of sales, marketing and information technology in the coming year.
About StreamLink Software:
StreamLink provides nonprofit organizations with web-based management software that increases operational capacity and efficiency. StreamLink’s philosophy is to maximize the value of every dollar a nonprofit organization has, increasing its ability to achieve its mission. StreamLink recognizes that most all nonprofit organizations do not have leading edge tools to make them both effective and efficient, primarily because of the cost-prohibitive investments of hardware, software and resources. With the advent of web-based software, StreamLink provides tools to systemize complex tasks to help organizations increase efficiency and secure additional revenue. StreamLink drives performance in the areas of board management, government grants and foundation management. StreamLink Software has partnered with BoardSource and The Foundation Center to incorporate best practices and research tools into its solutions.
For more information, please contact:
1900 Superior Avenue, Suite 223
Cleveland, OH 44114
Phone: (216) 916-7333