Madison’s technology and startup communities continue to grow, and that growth is fueling additional private investment in not only new companies, but marginalized communities of color.
Welcome to Business Class, a biweekly digest of what’s happening in local business news. For more on the top stories, keep reading after the digest.
- The Madison Region Economic Partnership announced Thursday the launch of a new revolving loan fund that will help rural businesses gain access to capital and grow.
- Madison-based startup Nurse Disrupted, which provides telehealth services and infrastructure for various organizations, has received a $700,000 investment led by Exact Sciences CEO Kevin Conroy.
- Almost half of local companies reported better-than-expected results in 2021, according to an annual survey from First Business Bank.
- Exact Sciences announced Thursday its $500,000 donation to the Urban League of Greater Madison’s Black Business Hub project — to be located on the city’s South Side. The biomedical giant will also lease space inside the Hub once constructed.
- Madison-based transportation management software company, SwanLeap, has been acquired by Georgia’s Transportation Insight, a firm that specializes in logistics and freight solutions. Founded in 2013, SwanLeap has received high praise for previously being one of the fastest-growing private companies after five years of operation. The terms of the sale have not been disclosed.
- A Madison-based music streaming startup known as LÜM (Live Undiscovered Music) announced on Twitter last Monday that it is shutting down temporarily. CEO Max Fergus told the Wisconsin State Journal that the company plans to relaunch, but he couldn’t share details beyond that. More details to come.
- gener8tor, a startup accelerator located in Downtown Madison, announced it has surpassed 800 alumni since its 2012 launch. The accelerator is also expanding into Colorado.