Startups find funding in some less conventional places

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Author: Nancy Dahlberg
Publisher: Miami Herald
Date: August 19, 2013

In South Florida, startup and early-stage funding still makes the news — and there has been a run of it this month.

Some startups are finding their angels in less conventional places. For instance, Mas Equity Partners is the new $1 million funder behindSportsmanias, a news platform for sports fans. It’s the first tech-startup investment for Mas Equity Partners, which typically invests mainly in later-stage energy companies and also in banking-related businesses, said Jorge Mas, chairman of Mastec.

ContractRoom, the creators of a cloud-based platform to automate the negotiation and contracting process for enterprises, said Thursday it has completed its angel investment round totaling $850,000. Investors include entrepreneurs in the legal, finance, healthcare, real estate and tech industries, such as Parker Thomson, former partner at Hogan Lovells and Edward Matthews, a former finance executive.

This new financing will be used to further accelerate product development and fuel sales and marketing activities, the company said. ContractRoom previously raised a seed round of $375,000, bringing its total investor financing to more than $1.2 million. Read more here.