(Minneapolis, MN) — July 25, 2022 — akoyaGO, a fully customizable software solution designed to optimize foundation efficiencies, announces the closing of its Series A Convertible Preferred financing round with $2.5 million of equity sold to investors. Financing proceeds are being used to propel its rapid growth rate, enhance product offerings, and provide working capital.
The financing was led by Mairs & Power Venture Capital with a $1M participation as well as Brimacomb Capital and several other individual investors. John Bergstrom, General Partner of Mairs & Power Venture Capital, has joined the board. “We are excited to invest in akoyaGO, the first portfolio company in our new venture capital fund. We see the incredible opportunity the company offers to the marketplace, and we are committed to supporting its continued growth and value creation. Partnering with akoyaGO also reinforces our commitment to fuel good businesses with a particular focus on the Upper Midwest,” said John Bergstrom.
“This capital investment will provide us with sufficient resources to fund our hyper growth while allowing us to further amplify the impact of our clients and their philanthropic endeavors,” said John Long, Chief Executive Officer of Bromelkamp Company. “This investment not only fuels our business but also validates our vision.” Long joined akoyaGO in 2020 after spending more than a decade founding and scaling Avionté, a Minnesota-based staffing software company.
For more than 40 years, Bromelkamp Company has supported the mission of foundations to make philanthropy better by serving as a strategic technology partner. Its current solution, akoyaGO, delivers a fully integrated end-to-end software solution, from relationship management to fund accounting. Built on the Microsoft platform, akoyaGO is designed to streamline day-to-day operations through automation. Our cloud-based platform provides access anytime and anywhere. Learn more about akoyaGO at akoyaGO.com.
About Mairs & Power Venture Capital
Mairs & Power Venture Capital is a subsidiary of Mairs & Power, Inc., a Minnesota-based asset management firm with more than $10 billion in assets. Mairs & Power Venture Capital partners with high potential venture-stage companies, particularly in the software, business services, healthcare, FinTech, EdTech, and other high growth sectors, with strong preference for companies located in the Upper Midwest.