Founded in 2001, Netchemia transitioned from a consulting company to software production six years ago.
The 12-year-old company company last month closed the round and now it plans to continue expanding through a partnership with Mainsail. Aside from an undisclosed number of angel investors, this round is the first time the company sought outside investments.
"We were a particualrly good match because of (Mainsail's) focus on bootstrapped companies, and they were a cultural match with the other partners we were talking to," Netchemia CEO Carlos Antequera recently told Silicon Prairie News.
Netchemia offers tools that aim to help schools with hiring and managing employee performance evaluations. Its TalentEd K-12 Strategic Management Suite is an online platform that allows administrators to organize district-wide records.
Antequera said that the new funds will be directed toward the sale and marketing of Netchemia's products in states outside of the Midwest.
"One of the critical things that we aim to do is to democratize the access of these types of technologies for school districts of all sizes," Antequera said.
Though more than 1,100 school districts and institutions of varying sizes across 42 states currently use Netchemia's platform, Antequera and his team are still looking to expand the company's reach.
"Carlos and his team recognized the opportunity to leverage technology to improve the process of managing talent for school administrators," Mainsail princpal Stephen Wolfe said in a press release. "We have a great deal of respect for entrepreneurs like Carlos who have proven they can grow their businesses rapidly and do so profitably."
Founded in 2001, the company transitioned from an Internet consulting company to software production six years ago. Since then the Netchemia team has released two software education products and grown to more than 45 employees. Antequera says the company has already hired 10 employees this quarter and that there are plans to continue expanding in the coming months.
Last month the company announced it's a finalist in the SIIA Education CODiE Awards for Best K-12 Enterprise Solution. The winners will be announced Monday during the Ed Tech Industry Summit in San Francisco.
Credits: Product photo and Carlos Antequera's photo by Kenny Johnson Photography. Stephen Wolfe photo from Wolfe's LinkedIn.