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Allos Ventures Leads Funding for Pittsburgh Company

Tuesday, February 4, 2020 07:34 PM EDT Updated: Wednesday, February 5, 2020 09:01 AM EDT
By Alex Brown
Allos Ventures Leads Funding for Pittsburgh Company (photo courtesy of Dan McGowan)

An Indianapolis-based venture capital investment firm has led a $7 million Series A round of funding for a Pittsburgh tech company. Allos Ventures says the cloud-based fleet management software platform developed by Maven Machines represents the type of business in which the firm likes to invest.

The funding round also included participation from New York-based Hearst Ventures and Great Oaks Venture Capital, as well as Riverfront Ventures in Pittsburgh and existing private investors.

Maven Machines Chief Executive Officer Avi Geller says the involvement of Allos Ventures “adds important strengths to our strategic team with its deep experience supporting rapid growth technology companies.”

The company says it will use the funding to expand its workforce, with plans to triple in size by the end of the year.

The announcement comes less than two weeks after Allos Ventures closed on its $52 million third fund. The firm has already invested in a number of startup companies from the Allos III fund, many of which are located in central Indiana.

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Factors in determining your company’s value

Factors in determining your company’s value

Determining the right asking price is crucial for a successful sale. An accurate valuation of your business requires considering multiple factors, such as financial performance, assets, intellectual property, customer base, and market share. Careful analysis of your business's unique attributes and the current market landscape can aid in setting a competitive and realistic asking price. Here are some key points to consider regarding the influence of market pricing on the timing of a company sale....

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