Lenexa, Kan. – (August 26, 2014) – The Mid-America Angels (MAA) recently closed a $360,000 investment in ClaimKit LLC, an Overland Park-based claim document management and review software company. The deal was syndicated, with an additional $200,000 investment coming from SeedStep Angels in Oklahoma and included participation from the Women’s Capital Connection. This puts ClaimKit within striking distance of meeting their $1 million objective.
The ClaimKit deal marks the fourth MAA investment closed in 2014. Since the beginning of the year, the MAA network has provided nearly $2 million in commercialization funding to area startups and high-growth businesses.
“We’re proud to be investing in the future of a company that has shown a commitment to Kansas City. We look forward to working with Chris and the rest of the ClaimKit team to ensure that the company grows quickly and sustainably, continues to develop its subscriber base and creates new jobs,” said George Hansen, President and CEO of the Enterprise Center of Johnson County (ECJC). The ECJC manages the Mid-America Angels network.
“The traction that ClaimKit has received from both investors and customers is an incredible vote of confidence in our product and our team. We look forward to taking advantage of this momentum to make the lives of claim professionals easier and more efficient,” said Chris Cheatham, ClaimKit co-founder and CEO. This round of financing will enable ClaimKit to add to its staff, expand its current software suite and invest in additional sales and marketing capabilities.
About the Mid-America Angels
Mid-America Angels, LLC is an angel investor network focused on early-stage, high-growth companies in the Kansas and Missouri region. Since its inception in 2006, the angel group has made 57 investments totaling $14.8 million. Individuals interested in more information about becoming a member of MAA or applying for funding, visit, www.midamericaangels.com.
MAA typically funds deals in the investment range of $250,000 to $2 million—a range which is not typically served by venture capitalists. In selecting companies to present to the network, the MAA staff looks for early stage companies with a large market opportunity, high revenue growth potential, a capable management team and proprietary technology that can scale operations quickly. MAA focuses its time on companies located in Kansas and Missouri.
MAA network members include accredited investors from across the region. Together, the “angel investors” pool their capital to mitigate the risk of investing in companies with high return on investment (ROI) potential. Mid-America Angels is managed by the Enterprise Center of Johnson County, a non-profit venture development organization providing advisory services, access to funding resources, entrepreneurial education, flexible office space and networking connections for high-growth companies. For more information, visit www.ecjc.com.
About ClaimKit LLC
ClaimKit LLC provides simple document management for claim professionals. Through the DocKit software and integrated CollectionKit services, ClaimKit has helped surety claim professionals collect information for and manage investigations of over $2 billion in claims. For more information about ClaimKit, visit www.claimkit.com.