FORT COLLINS — The Innosphere Fund, a venture capital fund made available to client companies of the Innosphere incubator, has made its first investment in a startup.
Incident Response Technologies Inc., based in Denver, closed on $1.2 million in seed funding, led by the Innosphere Fund and with participation from angel investors in Colorado, New York and Kentucky.
Member-owned not-for-profit Elevations Credit Union has a new branch in Midtown Fort Collins, featuring business bankers, commercial lenders and more.
IRT, a client company of Innosphere, has a flagship cloud-based command and control software called the Rhodium Incident Management Suite. The software provides public safety organizations with intuitive cloud-based solutions to improve coordinating resources for first responders. It was used in both Hurricane Harvey and Irma responses.
“We saw a clear need for the critical services Rhodium can provide across large and small public safety organizations,” said Mike Freeman, general partner of the Innosphere Fund and CEO of Innosphere, in a prepared statement. “So the Innosphere Fund is proud to support Founder and CEO Jarret Winkelman in the company’s next phase of growth. We’re excited about their software because it’s a unique offering to public safety organizations across the nation struggling to continuously improve coordination and management of resources on the front line of fire services, police services, and emergency medical services.”
IRT’s funding will go to scaling revenue growth, product improvements, new features and investing in its marketing and sales staff.
The company’s Rhodium platform works by letting incident leaders review pre-plan data, view the current situation status, document actions quickly and easily distribute FEMA incident command system forms. So far, 150 public safety organizations are using IRT’s Rhodium.
“The need for collaborative planning and response management tools for public safety has never been more clear. This capital will allow us to accelerate our mission to bring this important technology to all public safety organizations,” said Jarret Winkelman, IRT’s CEO and co-founder, in a prepared statement. “We are excited to be working with the Innosphere Fund. Their expertise with scaling technology companies in Colorado will aid us in moving rapidly to achieve our goals.”