Startup Roundup: SoMoLend, ConnXus, Pingage and OneMorePallet reach milestones

Four young firms land clients, raise money

CINCINNATI - Cincinnati's startup community celebrated several key milestones by young companies in the last week. Here is a summary, based on press releases from CincyTech USA, which makes seed-stage investments in local companies, and a newsletter from Cintrifuse, a regional hub for startups:

·      SoMoLend Holdings LLC has closed a $2.18 million funding round, led by a $400,000 investment from QED Investors in Alexandria, Va. "It is a major win to obtain our final round of seed funding from QED because of their expertise in the financial technology space," said Candace Klein, founder and chief executive officer of SoMoLend. Other SoMoLend seed investors include: CincyTech, Queen City Angels, the North Coast Angel Fund, Blue Chip Partners, Shaker LaunchHouse, Eldar Investment LLC, Clarion Direct Investment LLC, Clifford Holekamp, Elizabeth Crowell, Bruce Terry, Bob Baron, Cheryl and Carlin Stamm. SoMoLend is a debt-based crowdfunding platform that helps small businesses raise money from investors in their towns.

·      Mason-based startup, ConnXus , has landed a big new account in Florida. A regional buying cooperative operated by four hospitals and health care systems in the Gulf Coast has retained Connxus to help it find minority- and women-owned suppliers. Terms of the deal were not announced.

·      Lisnr has signed new deals with Trident gum and NBC Universal and secured Swedish House Mafia as a launch partner. Lisnr makes an app that lets recording artists share content with fans by using silent digital signals imbedded in audio files.

·      Pingage has closed a seed-stage investment round of $850,000 with CincyTech, Vine Street Ventures and North Coast Angel Fund among those buying in. Pingage is a marketing firm that helps companies use Pinterest to deepen ties with customers. The funding round was described in this recent WCPO Digital story about Pingage's graduation from Cintrifuse.

·      OneMorePallet has secured deals with Old Dominion, US Holland and Southeast Express, expanding its coverage area to 48 states. This Newport, Ky. –based startup lets shippers bid on empty space on freight trailers with an online site that's similar to the way the travel industry sells empty seats on planes.

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