June 11, 2014

Branford software maker lands $5M investment

Branford's Core Informatics Inc., which makes data management software for scientists, said it has raised $5 million in equity financing.

The company said it will use the funding for software engineering, product development, customer support, and sales and marketing.

The state Department of Economic and Community Development announced a $3 million economic assistance package for Core in March. In return, the company pledged to retain 15 jobs and create 69 more by 2019.

This funding round was led by Arizona's KLP Enterprises. KLP, which participated in a $60 million investment in New Haven's Kolltan Pharmaceuticals in March. KLP is the investment arm of the Pritzker-Vlock family office.

According to Forbes, Karen Pritzker is a Branford resident and billionaire heiress whose family founded the Hyatt hotel chain.

In connection with the investment, Elon Boms, managing director of Launch Capital, will join Core's board. Launch Capital is based in Cambridge, Mass., and has a New Haven office.

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