Wednesday, June 19, 2013

Angels Syndicate Deals in ZetrOZ and Groupize for $4.5M and $2M; Launchpad in Both; Groupize Quickly Oversubscribed.

ZetrOZ of Trumbull, CT has just completed a   syndicated A-round financing of $4.5M.   Funds came from Connecticut Innovations, Mass Medical Angels, Boston Harbor Angels, Launchpad Venture Group, and other individual Angels.  “Connecticut Innovations is the lead investor for the entire A Round, although Mass Medical Angels played a significant role leading the Boston based investors,” according to CEO Bryant Guffey.   As a result of this financing round, ZetrOZ, Inc relocated to Connecticut from Ithaca, NY.  Connecticut Innovations is the preferred shareholder with a board seat, followed by 2 independent directors and 2 common shareholder directors. Mass Medical Angels and Launchpad Venture Group both have observation rights.

“We are very excited and proud to have gained the support of top Angel and Venture groups in the Northeastern Region,” says Guffey. “Upon relocating to Connecticut in January 2013 we gained significant access to both financial and personnel resources in CT, MA, and NY.  Support from our new investors has expanded our ability to scale quickly in preparation for product launch later this year.  Frankly, I’ve been impressed by the Boston and Connecticut based investment communities in both their professional process and willingness to move quickly to seize the opportunity!”

 ZetrOZ is an innovative ultrasound technology company focused on developing a new generation of ultrasound products and applications. Utilizing its powerful, proprietary “OZ Inside™” miniaturization technology, ZetrOZ can deliver the spectrum of ultrasound more efficiently, more economically, and more compactly than ever before. The company spun off of from Cornell with technology in ultrasound miniaturization that cofounder Dr. George Lewis invented during his PhD research in biomedical engineering.

Groupize.  Launchpad and Golden Seeds member Sheryl Schultz first spotted the company at a pitch contest. The fundraising goal of $2M was quickly oversubscribed. Golden Seeds led the deal, joined by Launchpad. The Golden Seeds fund also invested.  The company was invited to pitch to the Maine Angels this month, but closed this round beforehand. “Looks like it generated a lot of interest!” says Sandra Stone of the Maine Angels. We hear Sidecar Angels was also interested.

Groupize, of Gloucester, MA,   provides a SaaS platform for allowing Hotel chains and big travel players like Expedia to deal with the perennial issue of booking small groups.  Booking singles is automated and booking huge groups is manual and cost effective that way.  Booking small groups has been a disaster - too expensive to do manually, too complex to automate.  Groupize has built a platform that allows chains and big guys to expose inventory, quote small groups, book small groups and generally solve the pain.  They have Wyndam, a couple million in revenue, and are closing in on one of the major internet travel sites.

We congratulate Launchpad in particular for playing a role in both of these syndicates.  Voices we have heard on high tell us that Launchpad invested close to $2M in these two companies, most likely moving Launchpad once again into  record setting results  in Q2

We appear to be the only publication covering angel syndicates as such. Syndications we have reported on recently include:


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