Covalent Data Closes Series A-1 Funding to Expand Innovation Intelligence Platform

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Led by High Country Venture, Funding Will Enhance Innovation Profiles of Individual Research Scientists.

Researchers are fighting harder than ever for public and private sources of funding…. We’re improving the ability for investors in research to discover the researchers they want to back.

Covalent Data, Inc., the leader in Innovation Intelligence, featuring the world’s most comprehensive and accurate collection of content illuminating the global innovation landscape, has completed a $1.2 million Series A-1 financing, bringing the total amount raised to date to $4.8 million. The funding was led by High Country Venture.

In addition, the company announced the appointments of Tim Oliver as Chief Executive Officer and Will Butler as Chief Technology Officer. Both have played critical roles for Covalent Data. Tim drove product strategy, leading a user experience overhaul and bringing greater focus to the company’s roadmap. Previously, Tim was Chief Marketing Officer for Open Scan Technologies, helping to position it for acquisition by Billtrust. Will has been integral to the development of Covalent Data’s platform from its earliest days, with a hand in shaping all of the front and back end technologies. Before Covalent Data, Will was an early engineering team member at Rally Software, contributing for nearly a decade to the build-out of its product set, leading to its successful IPO and later acquisition by CA.

“I have been greatly impressed by the value Tim and Will have added to Covalent Data,” said Chris Marks, Managing Director at High Country Venture. “They possess deep knowledge of the business and have proven their ability to get things done as a team. Under their leadership, I am confident the company will reach its next set of milestones and continue its progress towards long-term success.”

Since its inception, Covalent Data has attracted an enthusiastic following among corporate licensing professionals, technology transfer offices, and grant giving organizations, all eager to make sense of the sprawling and disorganized innovation landscape. With this round of funding, the company will sharpen its focus on the output of individual research scientists.

“Our unique approach to cleansing, organizing, and connecting innovation-related content has made it possible to follow the trail of invention from initial funding to commercialization,” said Will Butler, CTO. “We’re now applying the same techniques to organizing the contributions of individual researchers.”

Said Tim Oliver, CEO, “Researchers are fighting harder than ever for public and private sources of funding, while funders are frustrated by the quality and consistency of information available regarding researchers. Just as we’ve done for those seeking licensable technology assets, we’re improving the ability for investors in research to discover the researchers they want to back.”

About Covalent Data

Covalent Data is the leader in innovation intelligence, featuring the world’s most comprehensive and accurate collection of content illuminating the global innovation landscape. By stitching together disparate sets of public and private data, we make it possible to trace the journey of invention from the earliest stages of research through successful commercialization. We enable researchers to showcase their expertise, institutions to market their assets, foundations to evaluate grant applicants, and licensing professionals to discover groundbreaking technologies. Through the Covalent Data platform, all participants in the innovation ecosystem can efficiently track trends, analyze opportunities, and connect with each other. For more information visit http://www.covalentdata.com and follow us on Twitter @CovalentData.

About High Country Venture

High Country Venture manages two venture capital funds (Colorado Fund I and II) investing in early stage growth companies located in Colorado. HCV has approximately $50 million under management and is located in Boulder, Colorado. For more information visit http://highcountryventure.com.

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