Bloomfilter, a Cleveland, OH-based provider of a process intelligence platform for software development, raised $7M in Seed funding.
The round included $5.5M of equity financing led by Magarac Venture Partners with participation from Sequoia, HPA, North Coast Ventures, Techstars, and others, alongside $1.5M of venture debt from Pacific Western Bank. As part of the round, Michael Keithley, CIO at UTA, another beta customer, will join the Board of Directors.
The company intends to use the funds to accelerate product development, customer success, and go-to-market activities.
Led by Co-CEOs Andrew Wolfe and Erik Severinghaus, Bloomfilter is a process intelligence platform for software development, designed to measure and improve the software development lifecycle. The platform helps organizations develop a shared understanding of what the product team is building, when it will be delivered, and how much it costs. Its patent-pending process mining and predictive algorithms help software development teams identify the problems in the development process, objectively predict project outcomes, and deliver software on time and within budget.
In addition to the capital raise, the company has announced that the platform is generally available following the Beta program.
FinSMEs
08/05/2023