Cincinnati Startup Batterii Receives $1.5 Million JobsOhio Loan to Create Jobs

News release excerpt provided by Business Wire.

Cincinnati based Batterii, a software platform that helps teams to collect content and inspiration and create new ideas and solutions has announced JobsOhio will provide the company a $1.5 million loan. JobsOhio is a private nonprofit corporation tasked with helping promising companies to accelerate business growth and job creation. In addition to this loan, Batterii investors increased their commitment with an incremental $500,000 equity raise. The company said it expects to add at least 36 jobs.

“We anticipate more than doubling the number of Ohio-based Batterii employees by 2019,” said Kevin C. Cummins, CEO at Batterii. “The financing from JobsOhio will help us build out our technology, customer support and sales teams. “Our product and customer experience roadmaps are strong and have been validated with our Fortune 1000 customers. This support from JobsOhio will increase the value of the platform for our current customers and open new opportunities for growth,” said Cummins.

…Batterii has received seed stage investment from CincyTech, the southwest Ohio partner of Ohio Third Frontier

“JobsOhio loans, which require a thorough diligence process, allow growing companies to capitalize on their momentum.” said Doug Groh, director at CincyTech. “It is part of a valuable continuum of support, starting with the Third Frontier and then proceeding to JobsOhio, available to high potential tech startups in the state of Ohio…”

Click here to read the complete release, and read more in the Cincinnati Business Courier.

Originally published August 15, 2016.

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