Wellspring provides a software platform for technology scouting, corporate venturing, licensing, and IP management that helps organizations find, manage, and invest in emerging technologies. Founded as a spin-off by faculty and staff at Carnegie Mellon University and led by CEO Dr. Robert Lowe, the company serves more than 500 organizations worldwide. Its customer base includes Fortune 500 companies, SMEs, hospitals, government agencies, and universities ranging from about 100 to over 100,000 employees. The company will use new funding to scale sales and marketing of its software platform. Wellspring recently raised $6M in a Series B round to support that growth. Wellspring provides enterprise software systems to manage open-innovation processes including technology scouting, corporate venturing, in-/out-licensing and intellectual property management. Its Sophia Knowledge Supply Chain Software is designed to help companies, foundations, government agencies and universities identify and capture value from knowledge assets and collaborator networks. The company says its software is used by hospitals such as University Hospitals/Case Medical Center and Children’s Hospital of Los Angeles, and by corporations such as Johnson & Johnson Consumer Products. Wellspring was founded in 2003 as a spin-out of Carnegie Mellon University and is led by CEO Robert Lowe. In 2010 the company acquired Flintbox, an intellectual property exchange originally founded by the University of British Columbia. The company intends to use new funding to strengthen existing products and its technology position in R&D and product-innovation markets and to expand in corporate R&D, clinical and academic research markets.

Total raised

$11M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2016