Advocate Aurora Health Inc. has invested $75,000 in Milwaukee startup Ideawake as part of a larger funding round. It is the first investment from Aurora’s $5 million InvestMKE corporate venture fund, which is targeted to Milwaukee-area startups, since it was announced almost a year ago.
Ideawake offers an innovation capture software platform for corporations. The startup launched a $1 million angel funding round in late 2017, led by a local private investor, and previously received $50,000 from BrightStar Wisconsin Foundation Inc. The company completed startup accelerator program gener8tor last fall, which came with a $140,000 equity investment that is also part of this round. The funding round is still open, but co-founder Coby Skonord expects to close it soon.
Founded in 2013 by Skonord and Trae Tessmann, Ideawake has previously raised $1.2 million since its inception. The company has recently gained tractionwith large clients like Advocate Aurora and Sussex-based Sussex IM Inc. With the new funding round, Ideawake plans to expand from 10 to 13 employees to implement some of its new products. Read the full story here.