Jacksonville-based fund PS27 Ventures announced Tuesday it participated in a $2 million seed round for NotedSource, a software company that designed a platform to connect research and development partners.
NotedSource aims to help companies meet and collaborate more effectively with professors, interdisciplinary researchers and key opinion leaders from academia to accelerate product innovation and people development.
"They're doing really well," PS27 Founder and CEO Jim Stallings told the Business Journal this week in a conversation about the company. "They've already have agreements, arrangements and projects with some large companies that really prove their model."
NotedSource has partnered with Microsoft, Nike, Unilever and Johnson & Johnson to utilize their software, PS27 said in an announcement.
Although Stallings said the platform is scaleable, saying it could expand into new industries or add more companies and researchers.
"This is a way of matching really talented scientists and innovators with important projects," he said. "We're using machine learning and specialized algorithms to match projects and skill sets."
The NotedSource Discovery and Engagement Platform connects a global network of researchers to the leaders of Innovation and Learning in major companies like Microsoft, Nike, Unilever, and Johnson & Johnson, PS27 said in an announcement.
Rethink Education and Reign Ventures were among the other funds to participate in the seed round, according to Crunchbase. PS27's contribution to the $2 million round was not specified.
Techstars Boston Accelerator had invested prior to the seed round for an undisclosed amount, according to Crunchbase.
