Did you know that two Alabama startups recently received big investments from a new startup incubator in Mobile? Every two weeks, we’re pulling together some big tech news from throughout the state to help you stay in the loop.
1. Innovation Portal announces first investments from Portal Fund
On February 10th, Innovation Portal announced the first investments made from its Portal Fund, a nonprofit investment fund for early-stage ventures in the Mobile area with high potential. The fund, which aims to attract and retain promising entrepreneurs in Mobile, invested a total of $75,000 into two Alabama startups, Deuce Drone and Barkd. In addition to the funding, both startups will have access to the brand-new Innovation Portal workspace in Mobile, which is designed to support local startups and encourage their growth in the region.
2. University Fancards Expands to 21 Schools in 16 States
Earlier this year, University Fancards announced a multi-year extension with large collegiate sports marketing company Learfield IMG College, which will allow the Birmingham-based startup expand to 21 schools in 16 states throughout the United States. The new agreement signals growth for University Fancards, which now sells their products in more than 20,000 retails stores in addition to their online presence.
“We’re excited to be able to sign this extension with Learfield IMG College – an outstanding partner for over five years now when we started with the University of Alabama. Moving forward, we’re focused on our continued business strategies, growing our retail presence, and expanding our university partnerships to allow access to our proprietary data platform for consumer spending insights and additional contactless payment solutions.”Lynn Boggs, CEO, University Fancards
3. LeanStream Announces Partnership with PowerSchool
In late January, Alabama-based startup LeanStream Resource Partners announced that they will be collaborating with California-based PowerSchool, the largest provider in the U.S. of K-12 education tech products. Through their digital platform, LeanStream helps school systems promote and fund classroom activities by offering incentives to their charitable audience, such as “WiFi on the Go”.
By partnering with PowerSchool, LeanStream will have access to a larger audience and be able to impact more school districts, teachers and student organizations. At a time when community involvement is critical, LeanStream’s platform will help school systems efficiently manage their important fundraising initiatives.