Bloomfilter, a Cleveland-based tech company, has recently raised $7 million in seed funding to further develop its process intelligence platform for software development. The funding round included $5.5 million of equity financing led by Magarac Venture Partners and other participating companies, alongside $1.5 million of venture debt from Pacific Western Bank.
Process Intelligence Platform
A process intelligence platform is a type of software that provides users with visibility into their business processes and identifies areas of improvement. In the case of Bloomfilter, their process intelligence platform is designed specifically for software development.
Bloomfilter’s Process Intelligence Platform
Bloomfilter’s platform is aimed at helping software development teams improve the software development lifecycle. By using patent-pending process mining and predictive algorithms, the platform helps teams identify problems in the development process, predict project outcomes objectively, and deliver software on time and within budget.
Expansion Plans
The funds raised from the seed funding round will be used to accelerate product development, customer success, and go-to-market activities. Bloomfilter aims to expand its customer base and establish itself as a leading provider of process intelligence platforms for software development.
New Addition to the Board of Directors
As part of the funding round, Michael Keithley, CIO at UTA, a beta customer of Bloomfilter, will join the Board of Directors. This addition brings valuable experience and expertise to the board and helps Bloomfilter to further improve its platform.
General Availability
Bloomfilter also announced that its platform is now generally available following the beta program. This means that the platform is now open to the public and can be used by anyone looking to improve their software development process.
Bloomfilter’s process intelligence platform for software development is an innovative solution that helps teams identify problems in the development process, predict project outcomes, and deliver software on time and within budget. With the recent seed funding round and general availability announcement, the company is well-positioned to further develop its platform and expand its customer base.
