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BUSINESS

Mason software firm gets $2.5M in new funding

The Enquirer

ConnXus, a Mason company that makes supplier-diversity management software, has closed a $2.5 million funding round from a diverse group of investors.

The new funding will enable ConnXus to invest in marketing, sales resources, product development and grow its database of nearly 2 million diverse suppliers, said company founder and CEO Rod Robinson.

The lead investor is Techstars Ventures, the venture capital arm of Techstars. The Boulder, Colorado-based organization is making seed stage and Series A investments out of a $150 million third fund. ConnXus is the first Cincinnati-area tech company to receive investment from Techstars Ventures, the company said in a news release.

ConnXus says it has enjoyed 700 percent compound annual revenue growth since launching its first product in 2012, and 104 percent revenue growth in the past 12 months. Its client list includes McDonald’s, Coca-Cola, Harley-Davidson, Caesars Entertainment and Cincinnati Children’s Hospital Medical Center.