Carnegie Mellon spinout Wellspring raises $6m to support its emerging technology platform that has been showcased at Global Corporate Venturing's 2016 summit.
Wellspring, a US-based scouting, corporate venturing and tech transfer software provider that spun out from Carnegie Mellon University, has raised $6m in its series B round.
Investors in the round include venture capital firms MK Capital and Plymouth Ventures.
Founded in 2003, Wellspring has created a platform used by corporate clients and universities to find, manage and invest in emerging technologies.
Wellspring plans to use the funding to increase its sales and marketing efforts. The company is a sponsor of our sister publication Global Corporate Venturing‘s summit held in California this week.
In 2014, Wellspring raised $5m in a series A round led by MK Capital.
Robert Lowe, chief executive of Wellspring, said: “Our mission is to manage the world’s innovations, empowering corporate leaders, academic researchers, and start-ups to effectively partner and commercialise emerging technologies.
“Connecting the supply and demand for innovation is a long-standing problem. With hundreds of enterprise clients using Wellspring software, we have established ourselves as the leaders in solving this challenge.”
