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Coolfire Solutions, creators of the Ronin Platform a situational awareness delivery platform, today announced that it raised $11.5 million in an oversubscribed Series B financing. An undisclosed strategic investor led the investment round along with significant follow-on investment from Clayton Venture Partners, the venture capital arm of Enterprise Holdings Inc.
The Series B funding builds on a year of achievement for Coolfire which saw a growing list of customers, platform upgrades, and expansion of its partner program.
Recently, the company’s Ronin Platform was selected, in partnership with the U.S. Department of Homeland Security, for the Smart City IoT Innovation (SCITI) Lab program. The St. Louis-based software company plans to use the funds to aggressively accelerate sales, marketing and product development for commercial industries.
Clayton Venture Partners’ participation marks their second investment in Coolfire Solutions.
“Since the last investment, the Ronin Platform has made some key advancements and helped the Enterprise rental car business make significant technology upgrades,” stated Robert Wetzel, Vice President Corporate Development at Enterprise Holdings. “This investment further cements the relationship between the two companies and positions Coolfire Solutions to accelerate its already impressive growth.”
“We couldn’t be more excited to have a new strategic investor not to mention the continued support from new and existing investors, like Clayton Venture Partners, in our latest round of financing,” said Don Sharp, Chief Executive Officer at Coolfire Solutions.
“This latest round further validates the power of our Ronin Platform to transform industries, particularly in the hands of the most innovative companies in the world like Enterprise Holdings. We are incredibly fortunate to partner with a handful of visionaries who share our passion for delivering technology to the edge.”
Additional investment came from numerous new and existing investors including the IrishAngels investing group.