Innosphere accelerator graduate scores $1.5M

FORT COLLINS — Innosphere Ventures Fund II led a $1.5 million seed round for ResourceX, which makes “priority-based” budgeting software for municipalities and related groups.

The software-as-a-service offering “enables organizations, such as local governments and school districts, to implement data-driven budgeting decisions to determine resource reallocations,” a press release said.

The release said trillions of dollars in government spending on pandemic projects and infrastructure will affect “local government budgeting processes and community expectations of how funds are allocated.”

The spending will drive “government entities to strategically invest federal dollars and align budgets with community priorities,” said Innosphere Ventures Fund II general partner John Smith.

Addressing “multi-year backlogs of neglected [infrastructure will] benefit the lives of current residents and generations to come,” said ResourceX co-founder and CEO Chris Fabian.

Innosphere Ventures Fund II is part of Fort Collins biotech accelerator Innosphere. ResourceX grew from the accelerator and is now a portfolio company of the fund.