Tech Company Secures $2M in Funding
Lumavate provides mobile software solutions for manufacturers.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCarmel-based tech company Lumavate LLC has closed on a $2 million round of seed funding. The company says it will use the funding to boost its sales and marketing and product development efforts in the Internet of Things space.
The funding round was led by Indianapolis-based tech entrepreneur Don Brown with other participants including Elevate Ventures, Allos Ventures and other investors. Lumavate, which provides mobile software solutions for manufacturers, has also named John True to its board of managers.
"We are thrilled to have a tech visionary like Don Brown and new participation from great local venture firms like Elevate Ventures and Allos Ventures as partners in this journey," said Paul McGrath, chief executive officer of Lumavate. "We’re starting to see real momentum in the market, and support like this will take us to the next level. John True joining our Board is a real bonus for us as well. He’s currently a Board member of several other high growth technology companies across the country, so he’ll be invaluable to us as we look to scale Lumavate and make critical decisions along the way."
The funding round comes more than one year after the software developer secured $1.75 million in funding. In May, Lumavate announced plans to invest $450,000 into growing its headquarters and add about 90 jobs by 2020.