Chicago software firm Wellspring bags $3.5M in funding
Chicago-based software systems provider Wellspring Worldwide has just secured $3.5 million in a recent funding round, based on a Form D it had filed with the US Securities and Exchange Commission. The investors in this round are still undisclosed, according to VentureBeat.
Less than two months ago, the software startup had closed a $5-million round from MK Capital. It is still not confirmed if the document filed is part of this round, or if it is part of a new financing. What is known is that there are two investors in the recent funding, the report detailed.
Wellspring is a provider of web-based software products that companies use to gather, manage, analyze, and optimize research and development. Johnson & Johnson, FairfieldNodal, and Northwestern University are among its most notable clients, the report stated.
Founded in 2003, Wellspring now caters to more than 500 entities across worldwide. Its main products are Sophia, Flintbox, and Zeto. These tools help enterprises manage their Knowledge Supply Chain to help them get ahead of their competitors, according to the company's web profile.