A local startup that uses data to build stronger teams is prepping to grow now that it's secured a Series A investment.
Covington-based Cloverleaf announced in a release it has landed a Series A investment from ScOp Venture Capital, which is based in Santa Barbara, Calif.
The size of the funding round was undisclosed, but Devon Barnhard, Cloverleaf's marketing manager, told Cincy Inno it pushes the company's total fundraising amount to more than $5 million.
The funding, the release states, will help the company accelerate support for large enterprise clients, expand its geographic reach and continue the push towards product-led growth.
Cloverleaf uses behavioral tools to provide insights into team effectiveness and provides customized coaching to improve performance. The company expects to quadruple the number of coaches using its platform in 2021.
Cloverleaf's platform has over half a million users across hundreds of businesses and nonprofit organizations worldwide, the release states.
In October, Cloverleaf was the lone Midwest startup selected for San Francisco-based SAP.iO Foundry’s virtual accelerator. The company previously participated in the Ocean accelerator, which is what prompted its founders to jump into the business full time.
The company closed a $1 million seed fund led by Queen City Angels in 2018. It's also received investments from Stout Street Capital, Connetic Ventures, KSTC, Mucker Capital and Airwing VC. All of the company's previous investors are continuing their investment in this Series A funding round.
