VentureSpur 2013 Graduate Closes Investment Round, Relocates to OKC
We are delighted to announce that 2013 VentureSpur graduate, SIVI Corporation, has closed a major investment round and relocated its headquarters from New York City to Oklahoma City.
Download the announcement here: Press Release – VentureSpur Startup SIVI Completes Funding Round – Relocates to OKC – Dec 30 2013 [PDF]
Read the full announcement:
VentureSpur 2013 Startup, SIVI, Raises Investment, Relocates to OKC
Startup builds on momentum of VentureSpur Pitch Days, Launches Online Education Platform
OKLAHOMA CITY, OKLA. (December 30, 2013) – VentureSpur announced today that SIVI Corporation, a graduate of the accelerator’s 2013 program, has closed an investment round in excess of $340,000 from Oklahoma investors and has relocated its headquarters from New York City to Oklahoma City.
The investment will allow CEO Ashok Kamal and CTO Nicholas “Nik” Seet, to continue development of their LaunchLeader product and begin national and international marketing efforts. The company provides gamified e-learning for aspiring entrepreneurs, including tutorials, challenges and prizes.
According to Kamal, “When Nik and I joined the VentureSpur accelerator and moved to OKC, we weren’t sure what to expect. By all accounts, the program was a huge success for SIVI. Not only did we find amazing mentors but also we connected with investors who shared our vision for democratizing entrepreneurship education.”
The funding round was provided by a group of investors and venture capital funds who became aware of the company through VenturSpur’s acceleration program. Participants include two members of the SeedStep Angels, i2E’s StartOK Accelerator Fund, and VentureSpur’s Fund II.
“We’re thrilled to stay in OKC and be part of the vibrant and growing entrepreneurial ecosystem. We firmly believe OKC is one of the great emerging startup hubs in the US,” said Kamal.
The company has launched an initial version of its educational platform, LaunchLeader, and has announced partnerships with the Rice Alliance at Rice University, the SURGE Accelerator in Houston, The Dallas Entrepreneur Center, and i2E in Oklahoma.
“SIVI started in the accelerator with an idea and two extraordinary, committed co-founders. We worked closely with them to hone the business model, find great mentors and help them make new connections in both Oklahoma and Texas,” said Kraettli L. Epperson, Managing Director of VentureSpur. “SIVI made great use of our seed capital to survey the market, design and build an initial product, attract partners and test marketing channels. This is how seed capital is supposed to work,” said Epperson.
Kamal is the co-founder of Bennu, a green social media marketing company in New York City, and co-owner of the Green Business Bureau, which is the leading online green business certification for SMBs. He holds a BA from Boston University and an MBA from Baruch College, CUNY. Seet was previously the founder and CEO of Auditude, which was sold to Adobe in 2010 for more than $110MM. He holds a BS in Engineering and a BA in Economics from Harvey Mudd College and an MBA from UCLA.
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Kraettli Lawrence Epperson
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