Baton Rouge software firm eRisk secures capital for expansion
Baton Rouge-based software company eRisk Consulting LLC has secured investments from two Louisiana venture capital funds and a Florida software maker.
The amount of the investment by The Catalyst Fund, Louisiana Fund II and Jupiter, Florida-based Core Associates LLC was not disclosed. The funding will help eRisk accelerate the development of its mobile application platform, eNTERFACE.
Chris Jordan, president of eRISK Consulting, said in addition to capital, the company’s new partners offer industry expertise and global positioning in the United States, Canada, New Zealand and Australia.
A significant portion of the investment funding will go to adding manpower and strengthening the scalability eRisk’s mobile app eNTERFACE, Jordan said. The company created the product in 2014, targeting construction and real estate firms. The software allows clients to automate their paper processes at a lower cost than similar products offered by Microsoft and other major players.
Jordan said eRisk plans to roll out its new ENTERFACE1 product in mid-2017. The software will include a broad library of custom business applications.
The Catalyst Fund offers investment and development support for Louisiana entrepreneurs. The fund is overseen by Innovation Catalyst, a Baton Rouge-based non-profit venture development organization.
Core Associates is the maker of TimberScan, accounts payable approval processing and content management software for Sage 300 CRE users. Core Associates primarily serves the construction and real estate industries, and the company’s software has more than 25,000 users worldwide.
Louisiana Fund II is part of Louisiana Funds, an early stage venture capital fund focusing primarily on Louisiana-based life science companies. Louisiana Funds’ portfolio includes pharmaceuticals, biotechnology, agritechnology, information technology and other high technology firms.