HELIXintel has closed on a $4 million round of seed funding that will support its continued expansion across the U.S.
The Buffalo-based startup helps companies track and maintain their equipment, and also hosts a business-to-business marketplace for equipment purchases.
“This funding is fuel to our already accelerated growth over the past year,” President Michael Mainier said. “This is going to help us expand nationwide, support our engineering efforts and meet our customers’ needs.”
HELIXintel is based in the Incubator@CBLS facility on the Buffalo Niagara Medical Campus. The company has 12 full-time employees and is looking to hire about six more this year.
The round was led by HSB fund of Munich Re Ventures, Stellifi and Lab Ventures. Lauren DeLuca’s Motivate Ventures invested in the company for a second time, as did Green Egg Ventures. Launch NY did not invest in HELIXintel this round but did invest previously.
Mainier said HELIXintel has seen 40% month-over-month user growth since the launch of its platform last year.
Christa Dahlem, HELIXintel chief revenue officer, said the company has been successful in attracting large clients. She said HELIXintel will continue focus on small to medium-sized businesses, but its enterprise business has become a major focal point.
“We are seeing adoption across new markets that will empower us to grow and to scale a lot faster,” she said. “A lot of these really large companies have tens of thousands of pieces of equipment. They need help managing and maintaining the life cycles of that equipment.”
HELIXintel was founded by Mainier, CEO Jon DeWald, CFO Eliot Powell, vice president of business development Rob Franssen and Peter Burakowski.
Burakowski, well-known in Buffalo since his time as a 43North staff member, left the company in January in a move both sides described as amicable.
HELIXintel is the fourth startup in Buffalo to confirm a growth-oriented capital raise this year. The other ones are Patient Pattern ($2 million), BetterMynd ($1 million) and AireXpert ($125,000).
