LevelEleven, a company focused on enterprise gamification and CRM solutions, has launched with $1 million in seed funding led by Detroit Venture Partners with an equity stake from ePrize. Originally developed and incubated at ePrize, the new company will be headquartered in Motor City’s innovation hub in downtown Detroit.
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Roqbot said it received seed funding of $1.2 million in a deal led by Google Ventures and Detroit Venture Partners and joined by Accelerator Ventures, T5 Capital and Penny Black. The company is developing a mobile jukebox app. PRESS RELEASE Mobile Jukebox App Lets Users Control Music at Bars, Restaurants, and Stores DETROIT, June 12, [...]
(Reuters) – Long an emblem of urban decline, Detroit is suddenly being marketed as America’s comeback kid. The campaign’s most vocal salesman is Dan Gilbert (pictured), the 49-year-old founder and chairman of Quicken Loans and the majority owner of the Cleveland Cavaliers basketball team. Gilbert, a Detroit native, isn’t content to just talk up his [...]
African Americans have long been under-represented in Silicon Valley and most other tech communities. But thanks to several new programs and fresh attitudes, that’s finally starting to change. One promising program is the NewMe Accelerator, which recently wrapped up its inaugural nine-week program. A group of mostly black entrepreneurs from eight startups lived and worked [...]
Rockbridge Growth Equity, the private equity firm headed by Dan Gilbert, recently closed its eighth deal.
Not too shabby for a PE firm that doesn’t have a committed fund. Detroit-based Rockbridge invests off of Gilbert’s balance sheet, says Kevin Prokop, a partner. Gilbert is majority owner of the Cleveland Cavaliers and chairman and founder of Quicken Loans (Gilbert is also GM of Detroit Venture Partners).
Rockbridge, formed in 2007, has $200 million of committed capital. The PE firm targets companies in sectors such as including business and financial services, as well as sports, media & entertainment, according to the firm’s web site. Rockbridge invests $20 million to $30 million equity per deal, Prokop says.
Detroit Labs said Wednesday it is moving to downtown Detroit, in the Madison Theatre building. Detroit Labs creates applications for the iPhone, iPad, Android and Web applications. The company has received funding from Detroit Venture Partners.
Are You a Human LLC, a developer of online human verification tools, has wrapped up $750,000 in Series A financing. Investors include Detroit Venture Partners, the Frankel Commercialization Fund, and the First Step Fund. The money will help Are You a Human with continued development and beta testing, the company said. The Frankel Commercialization Fund is a student-led pre-seed investment fund run out of the University of Michigan Ross School of Business.
It would have rocked the basketball world were the phrase even uttered in the late 80s: Magic Johnson is heading to Detroit. But the Hall of Fame NBA star and entrepreneur isn’t on the hardwood anymore, he’s joining Detroit Venture Partners, where he will work alongside Josh Linkner, Founder & Chairman of ePrize; Dan Gilbert, Founder & Chairman of Quicken Loans and Majority Owner of the NBA’s Cleveland Cavaliers; and Brian Hermelin, Founder & Chairman of the private equity firm Rockbridge Growth Equity.