Innovation Catalyst, Louisiana Fund II and Core Associates, LLC Invest in Baton Rouge-based Technology Company, eRISK Consulting, LLC
January 17, 2017
The Catalyst Fund, Louisiana Fund II and Core Associates, LLC have invested in Baton Rouge-based software company, eRisk Consulting, LLC. The funding will assist eRisk in accelerating the development of its proprietary mobile application platform, eNTERFACE.
According to Chris Jordan, President of eRISK Consulting, “We are very excited about our recent fundraising efforts. Our new partners will bring capital resources, as well as industry expertise and strategic global positioning in the US, Canada, New Zealand and Australia.” eRisk plans to use a significant portion of the funds for manpower expansion and to help strengthen the scalability of the platform.
“We have made tremendous strides in our technology over the past several months, and plan on rolling out our new ENTERFACE1 platform in mid-2017. This enhancement to our existing platform will allow us to deliver a broad library of custom business process applications inside a single enterprise portal solution; it will be a true industry game-changer,” says Jordan.
“eRisk is a home-grown, high-growth technology company that will positively impact Louisiana’s entrepreneurial ecosystem and will complement our portfolio of companies,” says Louis Freeman, Jr, CEO of The Catalyst Fund.
In May 2016, Core Associates entered into a license agreement with eRisk to offer TimberScan users a brand-new form and application development platform. “We’ve built a lot of momentum with TimberScan eForms, and are planning more great things for new and existing clients,” states Core Associates’ CEO, Frank Grenci. The company’s CSO, Bernard Ross adds, “We’re thrilled to be a part of both firms’ continued success.”
“Chris and Steve have developed a great product and a winning team,” says Rick Babb, Managing Director of Louisiana Fund II.
About eRisk/eNTERFACE Forms Platform: eRisk created eNTERFACE in 2014 as a Rapid Application Development (RAD) Platform and offers a unique enterprise solution that currently caters to companies in the construction and real estate industry. eNTERFACE allows companies the ability to automate their paper processes inside a single mobile/portal platform. Similar concepts are offered by major players such as Microsoft SharePoint and InfoPath, but have been proven to not be cost effective for 99% of the Construction and Field Services industries. ENTERFACE is compatible with both IOS and Android technology, and offers an innovative solution for managing workflow.
About Innovation Catalyst and The Catalyst Fund: Innovation Catalyst is a non-profit venture development organization, formed by community leaders to strengthen and broaden Louisiana’s entrepreneurial ecosystem. It manages The Catalyst Fund, a non-profit, evergreen fund offering capital investment and development support for Louisiana-based entrepreneurs to bring their ideas to life.
About Core Associates/TimberScan: Core Associates, LLC is the proud maker of TimberScan, the leading AP approval processing and content management software for Sage 300 CRE users. Primarily serving the construction and real estate industries, Core Associates is a charitable and growing business. As a certified Sage Development Partner, Core Associates provides exceptional services along with quality software that is continually innovating based on the evolving demands of the market. The Core Associates product portfolio includes hosted, mobile, and cloud-based applications serving more than 25,000 users, worldwide.
About Louisiana Fund II: Louisiana Funds is an early stage venture capital fund focusing primarily on Louisiana based life science companies, including: pharmaceuticals, biotechnology, agritechnology, information technology and other high technology opportunities that offer venture capital returns.