Bloomfilter, a Cleveland, OH-based company offering a process intelligence platform for software development, has raised $7 million in Seed funding. The round included $5.5 million of equity financing led by Magarac Venture Partners, with participation from Sequoia, HPA, North Coast Ventures, Techstars, and others, as well as $1.5 million of venture debt from Pacific Western Bank. Michael Keithley, CIO at UTA and a beta customer, will join the company’s Board of Directors as part of the funding round.
The company plans to use the funds to accelerate product development, customer success, and go-to-market activities. Bloomfilter, led by co-CEOs Andrew Wolfe and Erik Severinghaus, provides a process intelligence platform designed to measure and improve the software development lifecycle. The platform enables organizations to gain a shared understanding of the product team’s progress, delivery timelines, and costs. Utilizing patent-pending process mining and predictive algorithms, Bloomfilter’s platform helps software development teams identify issues in the development process, objectively predict project outcomes, and ensure software is delivered on time and within budget.
Following the successful completion of its Beta program, Bloomfilter has announced the general availability of the platform.