Startup empowers commercial real estate stakeholders to organize, secure, analyze, and share commercial floor plans all in one place
Richmond, VA, April 07, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Virginia-based Floorwire, developer of a platform that provides commercial owners with control of their architectural data. By transforming inefficient and time-consuming workflows around storing and organizing data, Floorwire’s cloud-based solution addresses the needs of commercial landlords, architects and brokers. The startup will use this investment to enhance its technology and support its continued growth.
“Not everyone has the right tools to view CAD files or interact with architectural plans and data. With an ability to connect across a diverse set of asset management platforms and enable automation that’s not currently available on the market, Floorwire provides tools anywhere, anytime,” said Jen O’Daniel, Investment Director, CIT GAP Funds. “Floorwire is quickly growing and ready to make a splash in the commercial real estate industry. We look forward to following their journey as they continue to grow.”
Reston’s ThreatQuotient raised $22.5M amid increased enterprise attention to cybersecurity | CIT GAP Funds Portfolio Company - In the News
The cybersecurity firm took note of national VC trends as it sought funding to quicken product development and grow its engineering team. It plans to grow by 25 to 30% in the next year.
With recent investment from CIT GAP Funds, the Northern Virginia software company plans to embrace the virtual office trend and boost small businesses.
CIT GAP Funds Invests in AtWork Systems to Support SMBs with Solutions for Streamlined Business Operations
Company’s OneLynk platform provides end-to-end business processes and real-time analytics for government contractors
Richmond, VA, March 16, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Herndon, Va.-based AtWork Systems, developer of a fully integrated, complete back office business solution for SMB government contractors. AtWork's OneLynk platform provides end-to-end business processes and real-time analytics, allowing business owners to focus on growing their organizations. The company will use this investment to support growth and continued technology enhancements.
CIT GAP Funds Makes Follow-On Investment in Babylon Micro-Farms to Advance Sustainable Urban Agriculture
Additional funding supports company’s continued expansion into senior living and healthcare facilities
Richmond, Va. – March 11, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Charlottesville, Va.-based Babylon Micro-Farms, provider of a software enabled indoor farming service. Since GAP Funds’ initial investment in 2019, Babylon Micro-Farms has pivoted to focus on indoor growing systems for hospitals, senior living communities, and schools as a result of the coronavirus pandemic. The company will use this additional funding to continue its expansion into more locations in Virginia and across the East Coast.
CIT GAP Funds Invests in Sweetie Boy Delivers to Simplify Transportation Needs for Automotive Dealers
Services for both dealerships and consumers improve the car buying process, making it more cost effective and convenient
Richmond, VA, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Richmond, Va.-based Sweetie Boy Delivers, provider of services that help easily transport vehicles from one location to the next for dealerships and consumers. Sweetie Boy Delivers will use this investment to expand its sales and development teams to meet the needs of the ever-changing transportation industry, which has many pain points.
A family of funds managed by the Center for Innovative Technology has invested about $1.8 million into Richmond-area startups in recent years.
Through partnerships with Richmond-area groups like Lighthouse Labs, Trolley Ventures, 1717 Innovation Center, Virginia Commonwealth University and Startup Virginia, CIT GAP Funds is “actively cultivating a growing pipeline,” said Managing Director Tom Weithman.
Named Virginia’s most active investor by CB Insights for the past six years, CIT GAP Funds’ investments have helped create more than 6,500 new jobs in the Commonwealth in the last 15 years, it reported this month... By Michelai Graham / STAFF
Investments have supported the creation of nearly 6,500 jobs throughout the Commonwealth
Richmond, Va. – Jan. 13, 2021 – The Center for Innovative Technology (CIT) today released the 2020 CIT GAP Funds Impact Report, detailing both return on investment and socio-economic impact achieved since the fund’s inception in 2005. A family of funds placing equity investments in Virginia’s high-growth based technology, life science, and cleantech companies at the earliest developmental stages, CIT GAP Funds has deployed $32.4 million in capital across 240 portfolio companies.
Investment program spanning the Commonwealth continues to drive critical technology sectors during unprecedented times
Richmond, VA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) announced today that CIT GAP Funds has again been named Virginia’s most active investor by CB Insights, a developer of a tech market intelligence platform that analyzes millions of data points on venture capital, startups, patents, partnerships, and news mentions to predict future technology trends. For the sixth year in a row, CIT GAP Funds joins an impressive list of VCs in the U.S.
“CIT’s sustained commitment to investing at the earliest stages of company development positions CIT GAP Funds as a fundamental building block of the Commonwealth’s startup ecosystem,” said Virginia Secretary of Commerce and Trade Brian Ball. “Even in these trying times, CIT’s investment outcomes are a fitting tribute to Virginia’s entrepreneurial vitality, community spirit, and economic and social diversity.”
These VC firms span the D.C., Northern Virginia and Baltimore areas. Whether you're seeking seed funding or raising a Series B, there's probably something here to propel your business. (CIT GAP Funds listed)
Richmond, Va. – Sept. 21, 2020 – The Center for Innovative Technology (CIT) today announced the participation of Investment Directors, Jennifer O’Daniel and Marco Rubin, as selection committee members for Forefront 2020’s Startup Showcase. Forefront, scheduled to take place virtually from Sept. 22-23, will bring together leading capital sources and industry changemakers who are committed to advancing efforts that build inclusive and diverse entrepreneurial ecosystems.
Forefront's review and selection process is an independent process led by MAVA Investor Members. O’Daniel and Rubin took part in selecting the 35 competitive startups to participate in this year’s Startup Showcase on the first day of the event.
When: Tuesday, September 22, 2020 from 2:00 PM – 4:00 PM ET
Where: For more information about the virtual event, please click here.
What: Forefront 2020 Startup Showcase
Ultimately, 35 competitively selected startups will take the virtual stage to present in front of professional investors and corporate partners. Showcase Companies represent the strength of commercial enterprises being built across D.C. and the greater National Capital Region and beyond. These startups stood out for the following characteristics:
Who: CIT Investment Directors
Vienna, Va.-based startup launches new solution to accelerate analysis of patient and population data for COVID-19 using NLP and AI
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Vienna, Va.-based MetiStream, developer of a platform that uses big data, Natural Language Processing (NLP) and machine learning to reveal hidden insights in unstructured clinical data. MetiStream’s Ember Platform delivers better analytics to decrease health risks, and improve quality and outcomes for healthcare organizations. MetiStream will leverage the GAP Funds investment to help expand and accelerate sales, marketing and product development efforts.
Additional funding supports the fintech startup’s approach to improving the insurance quote process for both applicants and insurers
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Richmond, Va.-based Fenris. Over the last 12 months, Fenris has expanded their sales operations and enhanced their data delivery and analytics platform. The company plans to use this additional funding to further build out their product suite to meet demand from current and prospective clients.
“Fenris clients are seeing real results, including an increase in conversions accompanied by a 25% decrease in cost of acquisition due to smarter ordering of downstream reports, and up to 80% reduction in manual effort,” said Jennifer O’Daniel, Investment Director, CIT GAP Funds. “CIT is pleased to expand our relationship with Fenris through this follow-on investment, and we look forward to the company’s continued growth in 2020.”
Female veteran and spouse-owned businesses and entrepreneurs will compete for a cash prize and the designation of most likely to succeed
“Women and veteran entrepreneurs are bringing key products and services to market in the Commonwealth, all while paving the way for a new generation of female leadership in a variety of industries,” said Jennifer O’Daniel, Investment Director at CIT GAP Funds. “I am grateful for the opportunity to judge the Virginia Women Veterans Summit pitch competition and look forward to exploring new ways CIT can continue to support women veterans through our Virginia Founders Fund.”
This is now a virtual event | Press Release Here
CIT GAP Funds Invests in Curbside Kitchen to Continue Connecting Building Owners and Multi-Family Properties with Food Trucks
In response to coronavirus, Curbside Kitchen works to assist with food insecurity, serve hospital workers, and support small business food truck owners
The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Tysons, Va.-based Curbside Kitchen, developer of a platform that manages and connects owners of commercial office and multi-family residential buildings with food truck vendors as way to expand amenity options. In August 2019, CIT’s Virginia Founders Fund (VFF) made an initial investment in the company to complete a full build-out of their technology and hire additional team members. This investment from CIT GAP Funds will be used to continue expanding business operations.
Press Release: http://www.globenewswire.com/news-release/2020/04/07/2013068/0/en/CIT-GAP-Funds-Invests-in-Curbside-Kitchen-to-Continue-Connecting-Building-Owners-and-Multi-Family-Properties-with-Food-Trucks.html
Ranked by Deals closed in 2019
Locally Researched by: Carolyn M. Proctor, Washington Business Journal Apr 24, 2020, 6:00am EDT
During Women’s History Month, celebrated each March, the Center for Innovative Technology (CIT) is proud to highlight Virginia’s community of female entrepreneurs. Nearly 60 of CIT GAP Funds’ 200+ investments were founded by or include female executives. Bolstered by the Virginia Founders Fund, which increases access to capital for startups founded by women and other traditionally underserved entrepreneurial communities in the Commonwealth, CIT maintains a strong commitment to continue investing in women-led startups.
Women entrepreneurs make up a significant portion of U.S. small business owners, with the U.S. Census Bureau estimating over 12.3 million companies owned by women. According to a recent report from SmartAsset that set out to identify the top cities for women in tech, examining U.S. cities with 200,000 residents or more, two Virginia cities – Chesapeake and Arlington – were both named among the top five best cities for women in tech. The findings were based on a number of factors, including the city’s tech employment growth over the last three years, number of women in the tech workforce, and its gender pay gap.
Press Release Here | http://www.globenewswire.com/news-release/2020/03/26/2007128/0/en/CIT-Recognizes-Women-Led-Virginia-Startups-During-Women-s-History-Month.html
The Best Cities for Women in Tech in 2019 | Full Article
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