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STL Business Journal Entrepreneurial Recap

Thursday, May 4, 2017  
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The following news and notes were presented at the MVF Breakfast Builders Event on June 2, 2017. News and notes are provided by Brian Feldt of the St. Louis Business Journal.


-The St. Louis metro-area climbed 10 spots — from No. 36 in 2016 to No. 26 this year — in the Kauffman Foundation’s latest ranking of cities’ startup activity. The upward shift makes St. Louis the fastest growing city for startup activity among the nation’s 40 largest metro areas.


-St. Louis just missed cracking the top 10 on a list of top cities for corporate innovation by Innovation Leader, an independent information service on innovation. St. Louis was one of four cities named as “up and comers.”


-The St. Louis Arch Angels were listed as one of the 10 most-active angel groups in the country during 2016. The group invested about $11 million last year, up from $9 million in 2015.

-New research from the St. Louis Regional Chamber found that since being founded in 2011, T-REX has generated more than $350 million in annual economic output and has created more than 2,200 jobs. To date, more than 80 companies have “graduated” out of the building and gone on to create approximately 1,260 jobs in the St. Louis region.

-RiverVest Venture Partners was part of a $62 million Series A financing for a Seattle-based company called Genoa Pharmaceuticals.

-Prolog Ventures was part of a $10 million financing round for Spindrift, a Boston-area startup that offers sparkling water made with fresh fruit.

-Lewis & Clark Ventures helped a Virginia food delivery company called Territory Foods raise $6.7 million.

-Gainsight, the Silicon Valley customer success company founded by St. Louis entrepreneur Jim Eberlin that maintains a significant presence in St. Louis County, raised $52 million from a group of investors led by Lightspeed Venture Partners. Locally, Cultivation Capital still holds an equity stake in the company, which some are saying is poised to turn itself into a unicorn — a startupcompany valued at more than $1 billion.
Amazon has started hiring for positions for a Hazelwood distribution facility.

-Cultivation Capital led or co-led three venture deals in May: a $9 million financing for Boston-based Numerated Growth Technologies, which provides a real-time commerce platform for banks; a $3.7 million financing for Austin-based NarrativeDx, which has developed an artificial intelligence platform for patient experience; and a $2 million round for Rentulations, a Chicago-based startup that has developed a platform to streamline the rental process for landlords and tenants.

-Francis Chmelir, the executive director of ITEN for the last two years, is leaving the organization. Founding Executive Director Jim Brasunas will replace him on an interim basis.

-Truck Driver Power, a new St. Louis-based startup, raised $75,000 as it was accepted into the Entrepreneurship-Powered Innovation Center (EPIcenter) Logistics Innovation Accelerator, a Memphis-based program backed by FedEx.

-Exit 7C, an Arch Grants winner from November 2016, has raised a portion of a $500,000 seed round.

-Boundless, a goespatial software company, has moved its local operations, which includes 25 employees, into T-REX.

-The Yield Lab announced its first accelerator portfolio in Ireland, investing in three Irish startups and one United Kingdom company.

more Calendar

MVF Breakfast Meeting August 4, 2017 (Speaker: Dheeraj Patri, Label Insight)

MVF Breakfast Meeting September 1, 2017 (Speaker: TBA)

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