NewSci raises $500K Seed round
Company is First in Tallahassee Nexus Chapter to Receive Funding
(Tallahassee, Fla) – NewSci, LLC, a leading provider of Insight-as-a-Service to the education, healthcare, and social sectors, announced today the successful close of its seed round totaling $500,000 led by members of the Florida Angel Nexus in Tallahassee and Orlando. The company will use the funds to build its sales team and to expand its work with IBM Watson™ cognitive applications.
NewSci, a Findability Sciences Group Company, provides an intelligent platform combining Big Data and Cognitive Computing technology. Since its founding in late 2013, NewSci has worked with major universities, healthcare systems and non-profits including Lehigh University, Mercy Health and United Way agencies across the country.
“As organizations seek to adopt an insight-driven culture, NewSci’s Findability Platform™ provides the technology and domain expertise to support it,” said David Lawson, Co-Founder & CEO of NewSci. “Education, healthcare, and nonprofit organizations need Big Data and cognitive computing to pull together the enormous sets of data created by the many relationships they rely on and to transform that data into actionable insights.”
NewSci is the first startup company to receive funding from members of the Tallahassee chapter of the Florida Angel Nexus, a statewide network of angel investors seeking to invest in high-growth ventures.
“NewSci was clearly a great investment opportunity due to its seasoned management team and large market opportunity,” said Nexus member Matt Johnson. Johnson went on to say that NewSci’s successful seed round is indicative of the changing investor culture in and around Tallahassee. “This is a milestone moment for startups and angel investors in the Tallahassee community,” Johnson said. “Already we are seeing more local startups attracting local investment, which is critical to the long-term growth and vitality of the economy.”
The Florida Angel Nexus (“NEXUS”) supports angel investors and groups statewide by enabling collaboration to solve common challenges such as: deal flow, due diligence, portfolio management, and broader context. Leveraging the extensive network of industry experts, NEXUS enables investigations to better understand the market, product, and execution risk of investment opportunities. Selected companies gain exposure to a large number of investors across the state that co-invest to meet the company’s fundraising goals; the investor’s gain far more insights than they would generate on their own.
NEXUS’s objective is for investors to achieve higher returns with less risk than typical angel groups by combining Florida’s community resources, including the vast university systems, with the business acumen of NEXUS’s members and partners. It strives to improve Florida’s funding environment and to become a prominent investment corridor that attracts, creates, and retains the best talent and high-paying jobs for the state. For more information, visit www.floridaangelnexus.com.