Buffalo, N.Y. – Launch NY, the first and only nonprofit venture development organization that provides the 27 westernmost counties in New York pro bono mentoring, has awarded $85,000 to HELIXIntel through its Investor Network, the only on-demand digital marketplace exclusively featuring investment opportunities in startup companies in Upstate New York.
HELIXIntel is a Buffalo-based company that produces a free maintenance management platform, the first of its kind to combine equipment tracking for building systems, like HVAC and air compressors, with automatic plan optimization, along with the ability to seamlessly purchase services and parts from manufacturer-authorized suppliers.
The investment from Launch NY is part of HELIXIntel’s recent announcement of securing $1.6 million in its latest funding round and will go toward expanding both the startup’s eight-person team and its footprint in other East Coast markets beyond Buffalo and Washington, D.C.
“This is our eighth deal we’ve done involving dozens of investors who want to fund companies like HELIXIntel in their own backyard for as little as $10,000 up to $100,000 and beyond,” said Marnie LaVigne, President and CEO of Launch NY. “The diversity and reach of our featured portfolio companies, coupled with our responsibility to complete the due diligence, present the options and handle the deal documents, transactions and post-investment processes, makes our Investor Network the ideal, convenient #InvestLocal program for both investors and startups. We’ve founded a rapidly growing virtual community, and are thrilled to see more and more funding per deal with this latest announcement about HELIXIntel.”
“Launch NY has been an incredible partner to HELIXintel,” said HELIXintel Co-Founder and CEO Jon DeWald. “Their support in the form of mentorship, investment and funding from their Investor Network has helped us move faster to help small businesses organize and care for their equipment.”
Launch NY’s Investor Network, which announced its first investments in 2020, is designed to work in tandem with its nonprofit Seed Fund to provide accredited investors the ability to fund individual companies from the organization’s pipeline of startups through desktop or mobile devices. Through a digital platform, Launch NY can also help match investors with companies that align to their interests, such as industry sector and geographic location, so they can mentor as well as fund startups of their choosing.
To date, over 125 investors have signed on to the program, with a goal of 300 by the end of the year, according to LaVigne. Launch NY is holding a virtual Portfolio Company Showcase for potential new investors on Tuesday, June 29, from 4:00 p.m. – 5:30 p.m. The event is free, and accredited investor attendees will have the opportunity to network with other current and potential investors and hear the pitches from more than two dozen regional startups in the Launch NY’s #InvestLocal Financing Programs, including HELIXntel, and others, such as Circuit Clinical, EagleHawk, MemoryFox, Promptous, The Perfect Granola and Verivend. For a complete list of companies, and to sign up, go the event page.
In March 2021, Launch NY announced its biggest Investor Network raise to date with Circuit Clinical receiving $275,000. What’s more, with five figure raises in 2020 from a few investors in each deal, the Circuit Clinical investment more than doubled the funding brought to Launch NY portfolio companies through the Investor Network, with nearly 20% of members having participated.
“Because we vet the deals, share our due diligence documentation and provide deal formation, we can offer investors peace of mind knowing their capital is going to promising, legitimate startups,” said LaVigne. “And startups have the benefit of ongoing mentorship and portfolio management. Our Investor Network was designed to ensure a smooth and risk-managed process for both entities.”
Launch NY’s Investor Network is open to anyone who qualifies, regardless of location, and there’s currently no cost to sign up or minimum investment obligation. Go to https://launchny.org/investors/investor-network/ to get started.
About Launch New York
The mission of Launch New York, Inc. (Launch NY), the only U.S. Treasury-designated Community Development Financial Institution (CDFI) directly providing venture funding to businesses in New York State, is to identify, support and invest in high-growth, high-impact companies that can transform the local economy and catalyze the entrepreneurial culture in the 27 counties comprising the western half of Upstate New York. Launch NY is a 501(c)(3) nonprofit venture development organization that promotes economic development through best practices, including high-quality pro bono business mentoring, while operating the most active seed fund in New York State that provides access to seed capital as part of an array of #investlocal financing programs designed to facilitate funding for investment-ready companies which have the promise to drive significant economic impact and jobs for our region.
Launch NY is headquartered in Buffalo and has co-locations with partner organizations in Binghamton, Ithaca, Rochester and Syracuse. Since 2012, it has served over 1,210 companies, has more than two dozen experienced local entrepreneurs-in-residence and its National Mentor Network of 2,000 industry, business and investment experts. Launch NY mentored companies, including 27% women-led and 26% minority-led startups, that have created 4,301 jobs, attracted over $1.02 billion in co-investment and follow-on capital, and generated over $146 million in annual revenues. Those funded by Launch NY starting in 2016, including 73 portfolio companies comprised of 33% women-led and 27% minority-led, have created 294 jobs, attracted over $69 million, and generated over $16 million in annual revenues. Launch NY also leads the premier Emerging Cleantech Opportunity (ECO) Incubator, one of six designated clean energy incubators sponsored by the New York State Energy Research and Development Authority (NYSERDA), as well as the Founders Go Big program, an innovative diversity and inclusion initiative introduced in 2020.