Wellspring, a Chicago, IL-based provider of technology scouting, corporate venturing, and tech transfer software, raised $6m in Series B funding.
The round was led by Plymouth Ventures with participation from existing investor MK Capital.
The company will use the funds to scale sales and marketing of its software platform.
Founded as a spin-off by faculty and staff at Carnegie Mellon University and led by Dr. Robert Lowe, Chief Executive Officer, Wellspring provides software solutions for tech scouting, corporate venturing, licensing, and intellectual property management. More than 500 Fortune 500 companies, SMEs, hospitals, government agencies, and universities worldwide, ranging in size from 100 to more than 100,000 employees, use the software to find, manage, and invest in emerging technologies.