CLEVELAND, Nov. 10, 2016 /PRNewswire/ -- Heureka Software announced today that it has successfully raised $1.1 million in seed funding from local angel investors and Cleveland Venture Development Organization JumpStart Inc. The company further expects to raise that figure to $1.8 million in angel funding by year's end.
To date, Heureka has raised a total of $1.95 million, including a JobsOhio IOLF Loan of $750k, a $100k award from the Great Lakes Innovation and Development Enterprise (GLIDE) and their most recent $250k infusion of capital from the JumpStart Evergreen Fund. "While the funding environment for startups nationally has been extremely competitive, the Northeast Ohio startup environment has improved dramatically in the last four to five years," said Heureka Founder and Chairman Ron Copfer. "This funding demonstrates that if you have a strong idea and a high potential for growth, the Northeast Ohio investor community and the State of Ohio will step up to support you." "This funding is helping us make significant investments in the product development team, so that we have the architectural rigor and engineering craft necessary to develop and release new features very rapidly," said Heureka's VP of Product Development Mark Minehart. "Heureka Software Version 2.3 clearly demonstrates these investments are already helping accelerate our product momentum and speed to market."