Written by Barb Consiglio.
Many vital organizations and nonprofits wouldn’t be as impactful to communities without the help of grant money — but applying for these funds can be a complicated process. AmpliFund, the grant management platform from StreamLink Software, helps organizations by automating and simplifying the management of grant dollars from application through performance reporting.
It’s a service that is even more in demand with the passage of the Digital Accountability Transparency Act (DATA Act), which requires reporting of all government spending as data elements. The data must be compliant with government standards and made available for download at USAspending.gov. As a result, StreamLink is growing quickly. The company recently raised $10 million to hire a new CFO, along with adding several staff members to their sales force and software implementation team to keep up with new business.
“New regulations and audit procedures means that government, non-profits, higher education institutions or any organization that receives grant money can benefit from our software,” said Adam Roth, StreamLink co-founder and CEO. “Because managing grant funds digitally is no longer just a convenience for organizations but a necessity, this latest round of funding will help us stay ahead of the business that is flowing in.”
The technology helps organizations follow all the new data requirements while also maximizing their opportunities to bring in funding. Lead investors of StreamLink include two northeast Ohio partners of Ohio Third Frontier, North Coast Angel Fund and Jumpstart, as well as Chicago-based SaaS investor First Analysis. The company is experiencing rapid growth at their downtown Cleveland headquarters.
StreamLink’s AmpliFund software helps organizations find and apply for grants, track the status of each grant, create internal performance goals and automate reporting sent back to the government detailing how the funds were used. It also helps state and federal departments allocate funds to different organizations or set up award processes so organizations can compete for grant money.
“StreamLink updates the status of funds in real time, integrating with existing accounting and case management systems so anyone using the platform can easily see the status of a project at any point in a grant’s lifecycle,” said Roth. “This keeps them on-track to use the funds efficiently and eliminates any surprises when it comes time to report back to the state or federal level.”
Roth created StreamLink in 2008 to help nonprofits manage their finances without having to hire additional personnel and risk overextending their budgets. StreamLink received an initial investment from North Coast Angel Fund, as well as an Innovation Fund grant from GLIDE, another Ohio Third Frontier partner in northeast Ohio.
StreamLink’s growing client list extends across the country, including the city of Jacksonville, Florida, Mecklenburg County in North Carolina and Kauai County in Hawaii, which are all using AmpliFund to manage pre-award and post-award grant activities. Roth says the company receives continued support in northeast Ohio through organizations like JumpStart, along with the downtown Cleveland community that’s committed to entrepreneurship.
“We have a lot happening right now, from a pilot project with the EPA to working with the Department of Veterans Affairs, and we’re excited to expand our company right here in northeast Ohio,” said Roth. “The need for organizations to easily and effectively manage the grant process is growing, and we are prepared to take on new customers and provide that service to any organization that needs it.”