Reach/influence scores $5 mln

Reach/influence, which provides retail analytics, has received $5 million in funding. The investors were Vineyard Capital Group and Detroit Venture Partners.


LevelEleven grabs $2 mln

LevelEleven has raised $2 million in funding.The firm’s investor base includes Dallas Angel Network, Tamiami Angels, Detroit Venture Partners and Salesforce.com. In addition to the funding, the company has named Tim Kopp, former CMO of ExactTarget, to its board of directors. Based in Detroit, LevelEleven is a provider of enterprise gamification and CRM solutions.

BoostUp lands $1mln investment led by DVP

BoostUp has secured a $1 million round of funding led by Detroit Venture Partners. Other investors include Cornerstone Opportunity Partners, angel investor Patrick Sullivan and IncWell. BoostUp is a social saving platform.

LevelEleven Launches with Seed Funds led by Detroit

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.

Roqbot Receives $1.2M From Google Ventures, Detroit Venture, Others

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, […]

Dan Gilbert Bets Big on Detroit 2.0, Pumps Money into Local VC Firm, Real Estate

(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 […]


VCJ Report: NewMe Accelerator, MC Hammer and Magic Johnson Helping Drive Black Innovation: UPDATED

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, Gilbert’s PE firm, Buys Purchasing Power

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 to Set Up Shop in Downtown Detroit

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 Seals $750,000

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.

Magic Johnson Does Unthinkable, Signs with Detroit

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.

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