Scott-Bernstein-Kauffman Fellows

Lewis & Clark-backed startup raises another $8 million round

Blue Medora, a Detroit startup that develops enterprise cloud software, has raised $8 million from a group of investors that includes St. Louis-based venture capital firm Lewis & Clark Ventures.

It’s a follow-on round to the $8.6 million deal that Lewis & Clark led in October 2016.

First Analysis, a Chicago-based venture capital (VC) firm, led this most recent financing, which will help the startup expand its global reach, build expand its sales, marketing and R&D investments.

Blue Medora’s software allows a single view of applications, databases and infrastructure to quickly resolve IT issues, increase uptime and optimize performance for business applications. The technology is used by companies such as IBM, Oracle and VMware.

“The closing of the Series B1 is another sign that the industry continues to recognize our unique capability to deliver enterprise-class integration in new ways that the market demands,” Blue Medora CEO and co-founder Nathan Owen said in a statement.

Brian Hopcraft, Lewis & Clark’s managing director, sits on the board of directors at Blue Medora, which had revenue of about $10 million in 2016.

Read more, here.