Capital Midwest Fund

Capital Midwest Fund, established in 2006, is a venture capital firm headquartered in Mequon, Wisconsin. The company focuses on investing in early-stage, growth-oriented businesses across various sectors, including life sciences, information technology, advanced manufacturing, B2B, and healthcare, with a regional emphasis on the Central United States and the Midwest.

Daniel Einhorn

General Partner

Karen Hacker

Project Associate

Michael S. Harper

Partner

Alvin Vitangcol

General Partner

38 past transactions

Sprocket Security

Series A in 2024
Sprocket Security offers ongoing security testing services, adapting to the evolving security needs of businesses. Their platform detects organizational changes and triggers human-led testing to uncover potential security risks. This includes red teaming, adversary simulations, security awareness training, and tabletop exercises. Unlike traditional firms, Sprocket Security is designed for continuous testing, providing high-quality services at affordable subscription prices.

BetterYou

Series A in 2023
BetterYou is a digital wellness platform focused on enhancing health and wellness decision-making for both individuals and organizations. By utilizing data generated from daily device usage, the platform offers insights into how users allocate their time compared to what is truly important to them. BetterYou empowers users to define their own vision of "time better spent" and supports them in achieving their wellness goals across various dimensions, including physical, mental, social, and educational aspects. Additionally, the platform provides organizations with population-level insights, enabling them to promote better employee well-being and drive health savings by fostering healthier habits within their workforce. Overall, BetterYou aims to facilitate meaningful lifestyle changes and improve overall wellness for its users.

Valid8 Financial

Series A in 2023
Valid8 Financial, established in 2017 and based in Seattle, Washington, specializes in financial services investigations. The company's core offering is a SaaS platform that extracts and reconciles banking transactions from PDF statements, streamlining data preparation and enabling users to identify transfers between accounts and entities, simplify asset discovery, and detect potential fraudulent transfers. This platform empowers investors, auditors, and accountants to track, analyze, and manage third-party financial transactions, facilitating informed decision-making and independent financial assessments.

Forecastr

Series A in 2023
Forecastr is an online software company that specializes in financial modeling tools aimed at helping founders effectively manage their financial planning. The platform enables users to create customized financial models using their existing data, allowing for accurate revenue forecasting, expense management, and metric tracking. Additionally, Forecastr provides features for budgeting, report generation, and data visualization, which facilitate insightful reporting that can be shared with potential investors. By simplifying complex financial analysis, Forecastr empowers entrepreneurs to understand their financial landscape, predict their runway, and enhance their funding opportunities.

Elate

Venture Round in 2023
Elate is a developer of a strategic planning platform that enables companies to effectively communicate their vision, foster alignment, and monitor performance within a unified interface. The platform enhances organizational alignment and provides greater operational visibility, allowing businesses to define and measure key initiatives on a single dashboard. This comprehensive approach facilitates real-time decision-making, performance tracking, and collaboration, ultimately helping organizations to monitor growth and enhance productivity.

FactoryFix

Series A in 2022
FactoryFix, established in 2015 and headquartered in Chicago, Illinois, operates a platform that connects manufacturers with a vetted network of skilled workers. This includes engineers, machinists, maintenance technicians, and other specialized professionals. The company offers flexible hiring solutions, such as same-day service projects, part-time workers, and contract or temporary resources, as well as support for factory automation and engineering projects. By streamlining the hiring process and providing access to a large pool of qualified candidates, FactoryFix helps manufacturers fill their labor needs efficiently.

Intellihot

Venture Round in 2021
Intellihot is a manufacturer of tankless water heater systems for both residential and commercial applications. Established in 2005, the company emerged from the founder's experience with a traditional water heater malfunction. Intellihot's innovative designs, which have several patents pending, focus on conserving space and eliminating the need for bulky storage tanks. The systems are equipped with advanced connectivity features, including Wi-Fi and 3G/4G capabilities, allowing users to connect to a router or internet hub. This connectivity enables the analysis of water usage patterns, providing clients with on-demand water heating solutions that are both efficient and space-saving.

Valid8 Financial

Funding Round in 2021
Valid8 Financial, established in 2017 and based in Seattle, Washington, specializes in financial services investigations. The company's core offering is a SaaS platform that extracts and reconciles banking transactions from PDF statements, streamlining data preparation and enabling users to identify transfers between accounts and entities, simplify asset discovery, and detect potential fraudulent transfers. This platform empowers investors, auditors, and accountants to track, analyze, and manage third-party financial transactions, facilitating informed decision-making and independent financial assessments.

Hologram

Series B in 2021
Hologram, Inc. is a Chicago-based company specializing in cloud-based Internet connectivity solutions tailored for Internet of Things (IoT) device management and network connectivity. Founded in 2014 by Benjamin Forgan and Patrick Wilbur, Hologram offers a cellular platform that enables manufacturers, original equipment manufacturers (OEMs), and systems integrators to develop devices with cellular connectivity. The company provides a comprehensive suite of services, including Konekt cloud, which serves as a data broker and database solution for both cellular and non-cellular devices, facilitating the routing and storage of data generated by these devices. Additionally, Hologram offers M2M Short Messaging Service (SMS) for notifications and system integrations, enhancing the functionality of Internet-connected devices. With a focus on overcoming connectivity challenges, Hologram has supported the growth of various applications, including micromobility vehicles, self-driving cars, and remote medical deliveries, positioning itself as a key player in the expanding landscape of global device connectivity.

LightGuide

Series B in 2021
LightGuide Inc. is a developer of a patented industrial augmented reality platform that enhances manual assembly and manufacturing processes across various industries, including aerospace, agriculture, automotive, energy, heavy equipment, and medical. The company's proprietary software integrates seamlessly with existing production equipment and business information systems, allowing for easy modifications tailored to specific procedures. LightGuide's technology facilitates visualization, traceability, and flexibility, ensuring standardization and efficiency while minimizing errors in production processes. By providing real-time digital traceability for intricate industrial procedures, LightGuide aims to support organizations in improving operational effectiveness and achieving higher quality outcomes.

BetterYou

Seed Round in 2021
BetterYou is a digital wellness platform focused on enhancing health and wellness decision-making for both individuals and organizations. By utilizing data generated from daily device usage, the platform offers insights into how users allocate their time compared to what is truly important to them. BetterYou empowers users to define their own vision of "time better spent" and supports them in achieving their wellness goals across various dimensions, including physical, mental, social, and educational aspects. Additionally, the platform provides organizations with population-level insights, enabling them to promote better employee well-being and drive health savings by fostering healthier habits within their workforce. Overall, BetterYou aims to facilitate meaningful lifestyle changes and improve overall wellness for its users.

Textel

Series A in 2020
Textel CX Inc., established in 2014 and headquartered in Saint Louis, Missouri, specializes in developing a cloud-based texting platform for contact centers and businesses. Its primary product, Textel, enables these entities to engage with customers via text, enhancing customer experience and increasing engagement. Key features include landline texting, API integrations, and a text-to-find service, catering to industries such as car dealerships, insurance, healthcare, and retail. Textel serves nearly 800 customers across North America, facilitating inbound/outbound SMS and MMS texts, and integrating with leading systems of record.

RealityBLU

Venture Round in 2020
RealityBLU is a developer of a self-service augmented reality (AR) design platform aimed at non-technical marketers. The platform enables users to create, publish, and manage engaging AR experiences for smartphones and other AR-enabled devices without the need for technical coding skills. By offering an intuitive interface and streamlined workflow, RealityBLU removes the technical barriers associated with implementing and measuring AR content, empowering marketers to enhance their campaigns and increase customer engagement. The company has successfully attracted over 420 users and has demonstrated significant growth, with revenue increasing threefold year-over-year. RealityBLU provides organizations with complete ownership and control of their AR assets, marketing messaging, and strategies, allowing them to effectively execute internal AR initiatives and leverage a proprietary product suite for building and distributing AR experiences.

AdAdapted

Series A in 2020
AdAdapted, Inc. is a mobile advertising platform based in Ann Arbor, Michigan, that specializes in serving consumer packaged goods (CPG) brands. Founded in 2012, the company enables these brands to effectively target their key consumers within the shopping apps they frequently use. AdAdapted places native, non-disruptive advertisements at critical decision-making moments, thereby facilitating the inclusion of products on digital shopping lists. The platform not only delivers targeted advertising but also tracks consumer preferences, shopping behaviors, and planning habits, providing valuable insights into category and product interests. AdAdapted serves a diverse clientele that includes CPG brands, advertising agencies, and retailers, enhancing brand engagement during the shopping process.

Health Scholars

Series B in 2020
Health Scholars, Inc. is a company that specializes in developing medical simulation training software aimed at enhancing clinical education and training for healthcare providers. Incorporated in 2017 and based in Westminster, Colorado, Health Scholars offers a range of virtual reality (VR) solutions, including pre-hospital and in-hospital advanced cardiovascular life support (ACLS) training for first responders and clinicians, respectively. Additionally, the company provides The OR, a VR training program focused on surgical fire prevention to help mitigate risks and reduce liability costs. Their platform is designed to be user-friendly and scalable across health systems, facilitating the management and delivery of interactive training content. By leveraging VR technology, Health Scholars enables healthcare professionals to engage in cost-effective and immersive training experiences that improve patient care outcomes.

ThirdPartyTrust

Seed Round in 2020
ThirdPartyTrust is a developer of a SaaS vendor management platform designed to enhance the assessment and monitoring of vendor-related risks and cyber threats. The platform enables enterprises to require their vendors, such as IT service providers and consultants, to create comprehensive profiles that include security audits, insurance certificates, and compliance documentation. This centralized repository allows vendors to share their information with multiple enterprise clients, facilitating streamlined communication and collaboration on risk assessment questionnaires. Additionally, the platform helps clients gather essential data, such as SOC reports and certifications, enabling organizations to effectively measure and manage vendor risk across their operations.

SkySpecs

Series C in 2019
SkySpecs, Inc. is a technology company based in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands, that specializes in automating operations and maintenance for the wind energy industry through unmanned aerial vehicles. Founded in 2012, the company provides a range of services including analytics, wind turbine blade services, and engineering projects. Its offerings also encompass collaborative software solutions for managing and analyzing data from various sources, as well as digitization and planning for repair campaigns. Notably, SkySpecs has developed Horizon, a reporting software that serves as a central repository for operations and maintenance data related to wind turbine blades, facilitating task management, communication with third parties, and execution of large-scale repair projects. By leveraging its industry expertise and innovative technologies, SkySpecs aims to enhance productivity and efficiency for its clients within the renewable energy sector.

Lumanu

Seed Round in 2019
Lumanu, Inc. is a digital marketing platform that connects brands with influencers and creators. Founded in 2016 and headquartered in Oakland, California, with an additional office in Milwaukee, Wisconsin, Lumanu offers a suite of solutions designed to facilitate collaboration in the creator economy. Its SocialCert product enables influencers to share content and usage rights with marketers, while Content Manager allows for the ingestion of influencer-generated content. Additionally, the SmartBoost solution assists in creating advertisements using creative assets from influencers. By providing tools for payment management, compliance, and content collaboration, Lumanu empowers creators and freelancers to effectively manage their businesses and foster meaningful partnerships with brand marketers, agency marketers, and performance marketers.

Blue Pillar

Series A in 2019
Blue Pillar, Inc. is a software development company that specializes in enhancing critical infrastructure resilience against power outages. Founded in 2006 and based in Indianapolis, Indiana, Blue Pillar offers a range of solutions including Aurora, a vendor-agnostic platform for creating digital energy Internet of Things (IoT) networks; Avise Insite, which provides real-time management of facility utilities; and Avise Foresite, an enterprise application for centralized energy management across multiple locations. The company serves a diverse clientele, including healthcare facilities, educational institutions, local and federal government agencies, municipal utilities, data centers, and research laboratories. By connecting industrial equipment to the internet, Blue Pillar enables organizations to monitor, manage, and control their energy resources effectively, promoting operational productivity and energy efficiency.

Realync

Seed Round in 2019
Realync Corp. is a technology company that offers a cloud-based video platform designed for the real estate industry. Founded in 2012 and headquartered in Carmel, Indiana, with an additional office in Chicago, the company facilitates live virtual property tours, allowing agents and consumers to connect in real-time. Realync's platform enables users to conduct interactive tours and open houses using smartphones or tablets, as well as to share high-definition pre-recorded videos for potential buyers and renters. By leveraging this technology, Realync enhances the property viewing experience, making it more accessible and engaging for clients and agents alike.

NuCurrent

Series C in 2019
NuCurrent, Inc. is a Chicago-based company specializing in the design, fabrication, and integration of high-efficiency wireless power antennas and surface-mount inductors. Founded in 2009, the company develops antennas for both low and high frequency systems, catering to a variety of applications such as power electronics, RF electronics, and frequency synthesis. NuCurrent's innovations adhere to industry standards set by the Alliance for Wireless Power, Wireless Power Consortium, and Power Matters Alliance. The company collaborates closely with original equipment manufacturers (OEMs) and integrators to deliver custom-designed prototypes that enhance performance while reducing costs and sizes. Its patented technologies effectively address high-frequency challenges, resulting in improved efficiency and durability for wireless power applications.

AIQ Solutions

Series A in 2019
AIQ Solutions, Inc. is a Madison, Wisconsin-based company that specializes in designing and developing medical devices and software solutions aimed at the quantitative assessment of lesions associated with complex diseases, particularly cancer. Established in 2015, the company offers a clinical decision support platform that analyzes medical imaging data to identify and quantify cancer lesions, evaluating changes post-treatment. Its key products include quantitative total bone imaging (QTBI), which provides insights into metastatic bone disease, and quantitative total marrow imaging (QTMI), which assesses heterogeneity and treatment response in bone marrow. AIQ Solutions primarily serves oncologists, radiologists, nuclear medicine physicians, and pharmaceutical companies. The company leverages patented methodologies developed from extensive research and funding, enhancing the evaluation of treatment responses and ultimately improving patient outcomes while aiming to reduce healthcare costs.

SteamChain

Seed Round in 2018
SteamChain enables original equipment manufacturers (OEMs) to offer usage-based financing (hardware-as-a-service) to their customers. Under the status quo, customers pay OEMs based on milestones before, during and after delivery of machines. Leveraging blockchain, SteamChain enables OEMs to be paid on the productivity of the machine over its lifecycle, increasing the OEMs long-term financial upside and better aligning incentives with their customers.

enosiX

Series B in 2018
enosiX, Inc. is a technology company that specializes in real-time integration solutions connecting Salesforce with SAP systems. Founded in 2014 and based in Cincinnati, Ohio, enosiX develops a range of products that facilitate seamless data exchange and enhance business processes. Key offerings include Enosix Connect, which integrates SAP/ERP systems with cloud applications, and Enosix Engage, which enables direct access to SAP ERP data within Salesforce without the need for middleware. The company's platform empowers Salesforce users with essential information such as customer data, inventory, and order management, all in real-time. This integration allows organizations to improve productivity, increase sales effectiveness, and enhance customer engagement. Additionally, enosiX provides mobile solutions for various business functions, ensuring that critical SAP data is accessible to an increasingly mobile workforce. With a focus on reducing integration time from months to days, enosiX enhances operational efficiency and drives better business outcomes.

FactoryFix

Debt Financing in 2018
FactoryFix, established in 2015 and headquartered in Chicago, Illinois, operates a platform that connects manufacturers with a vetted network of skilled workers. This includes engineers, machinists, maintenance technicians, and other specialized professionals. The company offers flexible hiring solutions, such as same-day service projects, part-time workers, and contract or temporary resources, as well as support for factory automation and engineering projects. By streamlining the hiring process and providing access to a large pool of qualified candidates, FactoryFix helps manufacturers fill their labor needs efficiently.

FactoryFix

Seed Round in 2018
FactoryFix, established in 2015 and headquartered in Chicago, Illinois, operates a platform that connects manufacturers with a vetted network of skilled workers. This includes engineers, machinists, maintenance technicians, and other specialized professionals. The company offers flexible hiring solutions, such as same-day service projects, part-time workers, and contract or temporary resources, as well as support for factory automation and engineering projects. By streamlining the hiring process and providing access to a large pool of qualified candidates, FactoryFix helps manufacturers fill their labor needs efficiently.

PegEx

Series B in 2018
PegEx, Inc. is an environmental technology company based in Fitchburg, Wisconsin, that focuses on providing comprehensive sustainability and waste management solutions to small and medium-sized businesses across the United States. Established in 2012, PegEx offers a range of services including waste disposal, recycling, and specialized waste management for hazardous materials such as pharmaceuticals and chemicals. The company also provides support for industrial and commercial sustainability, serving sectors like retail, food service, and government agencies. Utilizing a cloud-based platform, PegEx streamlines waste management processes, enhances operational efficiency, and ensures regulatory compliance for waste generators, brokers, haulers, and disposal facilities. This innovative approach not only addresses environmental challenges but also helps clients improve profitability and manage risks associated with hazardous waste management.

SkySpecs

Series B in 2018
SkySpecs, Inc. is a technology company based in Ann Arbor, Michigan, with an additional office in Amsterdam, Netherlands, that specializes in automating operations and maintenance for the wind energy industry through unmanned aerial vehicles. Founded in 2012, the company provides a range of services including analytics, wind turbine blade services, and engineering projects. Its offerings also encompass collaborative software solutions for managing and analyzing data from various sources, as well as digitization and planning for repair campaigns. Notably, SkySpecs has developed Horizon, a reporting software that serves as a central repository for operations and maintenance data related to wind turbine blades, facilitating task management, communication with third parties, and execution of large-scale repair projects. By leveraging its industry expertise and innovative technologies, SkySpecs aims to enhance productivity and efficiency for its clients within the renewable energy sector.

Hologram

Series A in 2017
Hologram, Inc. is a Chicago-based company specializing in cloud-based Internet connectivity solutions tailored for Internet of Things (IoT) device management and network connectivity. Founded in 2014 by Benjamin Forgan and Patrick Wilbur, Hologram offers a cellular platform that enables manufacturers, original equipment manufacturers (OEMs), and systems integrators to develop devices with cellular connectivity. The company provides a comprehensive suite of services, including Konekt cloud, which serves as a data broker and database solution for both cellular and non-cellular devices, facilitating the routing and storage of data generated by these devices. Additionally, Hologram offers M2M Short Messaging Service (SMS) for notifications and system integrations, enhancing the functionality of Internet-connected devices. With a focus on overcoming connectivity challenges, Hologram has supported the growth of various applications, including micromobility vehicles, self-driving cars, and remote medical deliveries, positioning itself as a key player in the expanding landscape of global device connectivity.

OnKöl

Venture Round in 2016
OnKöl is a company that specializes in developing monitoring devices aimed at connecting elderly individuals and those with special needs to their families and caregivers. Founded in 2015 and based in Milwaukee, Wisconsin, OnKöl offers an emergency response tool that alerts selected family members and caregivers about vital signs, incoming and outgoing calls, and emergency situations. The device is compatible with various home monitoring sensors, including motion detectors, door and window sensors, bed pressure monitors, and smoke and carbon monoxide detectors, through Bluetooth or USB connections. This technology enables users to maintain their independence while ensuring that they remain in contact with their support network, facilitating a safer living environment.

OnKöl

Venture Round in 2014
OnKöl is a company that specializes in developing monitoring devices aimed at connecting elderly individuals and those with special needs to their families and caregivers. Founded in 2015 and based in Milwaukee, Wisconsin, OnKöl offers an emergency response tool that alerts selected family members and caregivers about vital signs, incoming and outgoing calls, and emergency situations. The device is compatible with various home monitoring sensors, including motion detectors, door and window sensors, bed pressure monitors, and smoke and carbon monoxide detectors, through Bluetooth or USB connections. This technology enables users to maintain their independence while ensuring that they remain in contact with their support network, facilitating a safer living environment.

Sierra Oncology

Series D in 2014
Sierra Oncology, Inc. is a clinical-stage biopharmaceutical company dedicated to researching, developing, and commercializing targeted therapies for hematology and oncology patients. Founded in 2003 and headquartered in Vancouver, Canada, the company focuses on delivering innovative treatments for rare forms of cancer. Its lead drug candidate, momelotinib, is a selective inhibitor of JAK1, JAK2, and ACVR1, which has been evaluated in two completed Phase 3 trials for myelofibrosis. In addition, Sierra is advancing SRA737, an inhibitor of Checkpoint kinase 1 currently undergoing Phase 1/2 clinical trials, and SRA141, an inhibitor of cell division cycle 7 kinase in preclinical development. Through its scientific expertise and evidence-based approach, Sierra Oncology aims to transform cancer treatment paradigms and improve patient outcomes.

Sierra Oncology

Series C in 2014
Sierra Oncology, Inc. is a clinical-stage biopharmaceutical company dedicated to researching, developing, and commercializing targeted therapies for hematology and oncology patients. Founded in 2003 and headquartered in Vancouver, Canada, the company focuses on delivering innovative treatments for rare forms of cancer. Its lead drug candidate, momelotinib, is a selective inhibitor of JAK1, JAK2, and ACVR1, which has been evaluated in two completed Phase 3 trials for myelofibrosis. In addition, Sierra is advancing SRA737, an inhibitor of Checkpoint kinase 1 currently undergoing Phase 1/2 clinical trials, and SRA141, an inhibitor of cell division cycle 7 kinase in preclinical development. Through its scientific expertise and evidence-based approach, Sierra Oncology aims to transform cancer treatment paradigms and improve patient outcomes.

CytoPherx

Series C in 2012
CytoPherx (formerly Nephrion) clinical stage medical device company addressing inflammation-based diseases and conditions. The company’s products are custom configurations of a proprietary selective cytopheresis-based inflammation modulating system.

HarQen

Series B in 2011
HarQen, Inc. is a technology company based in Milwaukee, Wisconsin, founded in 2007, that specializes in Software as a Service solutions aimed at enhancing recruitment processes. The company offers a comprehensive digital interview platform that facilitates various interviewing methods, including on-demand video, phone interviews, and live video interviews. It also provides tools for automated pre-screening, SMS candidate engagement, mock interviews, and language verification, all while supporting mobile applications for interviewing. HarQen’s platform, known as Recruitment Acceleration Management Process, harnesses voice-to-web technology to capture and analyze conversations, thereby transforming voice interactions into actionable insights. Its services cater to diverse sectors, including staffing and placement, healthcare, banking, higher education, and retail, among others. Additionally, HarQen is a founding member of the Hypervoice Consortium, promoting innovative ways to organize and navigate voice conversations for improved collaboration and productivity.

HarQen

Series A in 2010
HarQen, Inc. is a technology company based in Milwaukee, Wisconsin, founded in 2007, that specializes in Software as a Service solutions aimed at enhancing recruitment processes. The company offers a comprehensive digital interview platform that facilitates various interviewing methods, including on-demand video, phone interviews, and live video interviews. It also provides tools for automated pre-screening, SMS candidate engagement, mock interviews, and language verification, all while supporting mobile applications for interviewing. HarQen’s platform, known as Recruitment Acceleration Management Process, harnesses voice-to-web technology to capture and analyze conversations, thereby transforming voice interactions into actionable insights. Its services cater to diverse sectors, including staffing and placement, healthcare, banking, higher education, and retail, among others. Additionally, HarQen is a founding member of the Hypervoice Consortium, promoting innovative ways to organize and navigate voice conversations for improved collaboration and productivity.

VitalMedix

Venture Round in 2009
VitalMedix Inc., established in 2005 and headquartered in Minneapolis, Minnesota, specializes in the research and development of biopharmaceuticals. The company's primary focus is on sustaining cellular function and protecting cells during and after hemorrhagic shock. Its flagship product, Tamiasyn, is a biopharmaceutical designed to enable the human body to withstand severe blood loss and inhibit organ damage during resuscitation. Additionally, VitalMedix develops a hemorrhagic shock treatment system.
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