Buffalo startup company, 3AM Innovations, servicing the Buffalo Bills stadium and Disney World is seeking local investors through Launch NY’s Investor Network

Funding will fuel national expansion of software for emergency responders

 

Successful Investor Network deals this year include Verivend, Edenesque and PostProcess Technologies

 

Nov. 19, 2024, Buffalo, NY – 3AM Innovations is a Launch NY portfolio company backed by Grand Oaks, the investment firm founded by businessman and philanthropist Tom Golisano. 3AM is set to be featured on Launch NY’s Investor Network. The deal will give accredited investors an opportunity to invest as part of the company’s growth plans.

 

3AM’s Investor Network pitch and a question-and-answer session with its management team will be held from noon to 1 p.m. on Thursday, Nov. 21. Those interested in participating can fill out the Investor Network form here.

 

The Launch NY Investor Network is made up of more than 330 accredited investors who are passionate about supporting innovation in Upstate New York. Launch NY sources the deals, creates the investment framework and then presents them to the syndicate. This removes the administrative burden associated with angel investments and allows Investor Network members to access due diligence to make decisions on investing as little as $10,000 in local startups like 3AM Innovations.

 

“As longtime supporters of 3AM Innovations and its talented team, we’re thrilled to present this deal to our growing network of investors who believe there are great early-stage companies in Upstate New York,” Launch NY president and CEO Marnie LaVigne, Ph.D., said. “The Investor Network has become a robust engine of dealmaking activity that complements our other investment vehicles, such as our nonprofit and for-profit seed funds. With 3AM, we’re presenting a company that is already making emergencies and special events safer for first responders across the nation.”

 

The Investor Network has been steadily growing over the past year, surpassing its 300th investor earlier in 2024 (it now has 336). Eighteen deals have been funded through the Investor Network since its debut, totaling a collective $1.96 million in deals backing high-growth Upstate New York companies. The network is led by Jeanne Ernst, who recently joined Launch NY after more than 20 years of trading, analyzing and recommending equity investments for multi-billion-dollar mutual funds and investment banking firms, in addition to being an investor herself.

 

Launch NY is waiving the membership fee for the first 500 investors to join the Investor Network, which offers no-obligation-to-invest participation. Learn more about Investor Network here.

 

The 3AM opportunity comes at an exciting time in the company’s growth trajectory. 3AM’s FLORIAN software platform allows incident commanders to have a precise understanding of where first responders are during an emergency situation. The company has been steadily growing for several years as customers began to understand and adopt FLORIAN, and now it’s in use from small fire departments to large customers such as the Philadelphia Fire Department, Arlington County Fire Department, and Walt Disney World’s Fire Department.  One of 3AM’s local customers is the Orchard Park Fire District, which covers the Buffalo Bills stadiums (both existing and new).

 

Launch NY played a central role in the company’s progress not only in terms of providing investment capital, but also connection to talent. Mel Passarelli, a Buffalo native and successful entrepreneur, initially joined Launch NY’s board in 2019 to give back to his hometown. He subsequently became familiar with 3AM, which had received Launch NY investments through its Investor Network, nonprofit seed fund and for-profit seed fund.

 

Passarelli was appointed 3AM’s CEO in 2022 after its $9 million Series A funding round and is joined by chief financial officer Katie Sullivan and cofounders Patrick O’Connor, the company’s president, and Ryan Litt, its chief operating officer. The company has 23 full-time employees, most of them working out of its headquarters in downtown Buffalo.

 

“We thank Launch NY for their longtime support of 3AM Innovations, boosting the company as it developed its high-tech solution and now as it scales into the first responder market,” Passarelli said. “We have the opportunity to make a major impact in two distinct ways. First, FLORIAN has life-saving potential for customers ranging from fire departments to large corporations. Second, this is a technology company rooted in downtown Buffalo that is looking ahead to scaling its business significantly in the coming years. With partners such as Launch NY beside us, we’re looking forward to the future.”

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About Launch NY: Launch NY is the only nonprofit venture development organization and U.S. Treasury-designated Community Development Financial Institution (CDFI) that serves and directly funds startups in Upstate New York. The core mission of Launch NY is to identify, support and invest in high‐growth, high‐impact companies and to catalyze the entrepreneurial culture of Upstate New York on behalf of job and wealth creation. Since its inception in 2012, Launch NY has served more than 1,700 companies which have gone on to raise more than $1.5 billion, generate more than $265 million in annual revenue and support more than 5,300 jobs.

Launch NY delivers its mission via mentorship and capital access programs, starting with pro bono mentoring through its Entrepreneur-in-Residence program, Founders Go Big program for underrepresented and underserved founders, and Emerging Cleantech Opportunity (ECO) Incubator. These programs prepare entrepreneurs for investment capital from multiple sources, including Launch NY’s InvestLocal Financing Programs comprised of nonprofit and for-profit investment funds, and the Investor Network deals marketplace that features hundreds of accredited investors. Through these vehicles, Launch NY became the most active seed investor in New York state from 2018-2023 and has been ranked among the top 5 nonprofit seed funds in the country. Women- and/or BIPOC-led companies have consistently comprised over 40% of Launch NY’s mentored companies and have received more than 55% of Launch NY’s investment capital.