EmployStream Raises $1 Million in Funding

via employstream.com

Story excerpt provided by Markets Insider.

Automotive suppliers have a problem.

CLEVELAND, Sept. 13, 2017 /PRNewswire/ — EmployStream, a SaaS company that helps high-volume employers streamline their new hire onboarding process, has raised $1 million in a funding round led by JumpStart Inc. and North Coast Angel Fund (NCAF). Each organization invested $250,000 in the Cleveland-based company, with angel investors—including individual NCAF angels—adding the remaining amount. Mike Marchetti from JumpStart and Alan Brenner from NCAF will join the EmployStream Board of Directors.

“We couldn’t be more excited about how this round came together,” said EmployStream CEO Gerald Hetrick. “JumpStart, NCAF and an awesome group of local angel investors believe in us and we are anxious to prove them right. Their investment will allow us to ramp up product development, sales and marketing to attack our market opportunity head on.”

JumpStart’s $250,000 investment in EmployStream is the second investment from The Health-Tech Corridor Attraction Fund, a special carve-out of the $10 million JumpStart Evergreen Fund focused specifically on investing in companies that relocate to Cleveland’s burgeoning Health-Tech Corridor (HTC).

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Originally published September 13, 2017.

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