A Milwaukee logistics and business management software firm raised far less capital than the $5 million to $10 million initially planned — and that’s a very positive sign, according to the firm’s CEO.

Renaissant Inc.’s Thomas Dean told the Business Journal in March 2022 the firm planned to seek $5 million to $10 million in Series A funding in early 2023. However, Renaissant announced May 11 closing a $1.5 million seed round led by Venture 53 with participation from TitletownTech and NFI Ventures.

Dean said in an interview Monday that company executives determined they didn’t need as much new capital as they anticipated a year ago for two reasons.

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