KCRise Fund announced investments into two local startups, PayIt and Main Street Data, bringing its total funding to $6 million across 14 companies.
Since its launching as an initiative of KC Rising in 2016, KCRise Fund has raised $19 million in private capital from corporations, family offices and individuals. The fund targets companies in the Greater Kansas City region who are seeking at least $1 million in capital and have an approved institutional investor for the funding round.
Fund founder and Managing Director Darcy Howe said in a news release that half of the overall investments of the fund’s portfolio companies, now totaling $80 million, come from outside the area.
“It has been especially encouraging and exciting for us to see how the KCRise Fund companies are gaining attention from top VC firms across the U.S., drawing interest in our KC startup community,” Howe said.
READ MORE: Entrepreneurial investment rises in Kansas City
PayIt, a government services SaaS startup, also received funding from Royal Street Ventures and various angel investors for this funding round. The company announced a deal with the state of Kansas to power the state’s “iKan” platform, which allows users to sign up for services, pay bills and fees and access records.
Main Street Data, an agriculture data analytic company, also received funding from OpenAir Equity Partners, Leawood Capital and Royal Street Ventures for this funding round. This year has been momentous for Main Street Data. The startup announced strategic partnerships with IBM and the Grower Information Services Cooperative in February, and the release of the Validator, a performance data tool, on July 2.
“Main Street Data, alongside partners IBM and GISC, are creating a powerful global team to provide world-class data solutions to the agriculture industry,” said Kathy Walker, Main Street Data’s COO. “KCRise Fund brings local capital, which allows us to build in the region we call home.”
For more information, visit KCRiseFund.com.