Last year’s Rise of The Rest venture competition, which made a stop in Indianapolis, is being credited as a catalyst for a Hoosier technology company landing a $6 million round of funding. Indianapolis-based DemandJump Inc. Chief Executive Officer Christopher Day says his team followed up with Revolution LLC, the Washington D.C. venture capital firm behind the competition co-founded by former AOL CEO Steve Case, and received its Series A round support. Other investors include Kansas-based Flyover Capital Partners LLC, Cultivation Capital of St. Louis, California-based 4G Ventures, Bob Davoli of Boston’s Sigma Prime Ventures and Chicago-based Hyde Park Venture Partners, which has an office in Indianapolis.
In an interview with Inside INdiana Business, Day said the investment represents "another feather in the cap" for the state’s tech scene. "I believe 100 percent that Indiana is absolutely the nation’s nucleus," he said. "We are ranked number one in the nation for the best place to start a tech (company) and this is just one more example of why we are." The investment round, Day says, will help grow its customer acquisition platform by beefing up its sales and marketing team.
DemandJump was among the companies that delivered pitches to Rise of the Rest last year. The winner was Zionsville-based 120WaterAudit, which took home a $100,000 investment comes from the competition designed to boost young companies in traditionally overlooked cities. To date, the three-year-old DemandJump has been awarded around $8.6 million in seed and Series A funding.