StreamLink gets $3.5M to make grant management less tedious

Grant management can be full of frustrating tasks for folks in the nonprofit and public sectors. StreamLink aims to streamline the process with its cloud-based software.

The Cleveland-based startup, which today announced $3.5 million in new funding, makes grant management and board management software. AmpliFund enables StreamLink clients to manage the various stages of the grant lifecycle, and BoardMax provides a central hub for all board-related activities.

“We designed StreamLink to minimize infrastructure and optimize processes in order to earn the full potential of every grant and to maximize funding opportunities,” StreamLink CEO Adam Roth told VentureBeat. “We help organizations increase productivity while maintaining compliance, and we reduce the amount of time spent on administrative work, allowing organizations to pass on the financial and time savings to the communities in which they serve.”

StreamLink competes with dozens of grant management software makers, including WizeHive and Foundant Technologies, but Roth said his company’s flexible pricing model sets it apart.

“Our pricing is proportionate to an organization’s operating budget and grant revenue,” he said, “and our comprehensive products roll up more components of the process than any of the other players in the market.”

StreamLink has doubled its annual revenue for the past two years, according to Roth, who called its growth “significant and rapid.” (He declined to disclose more specific revenue details.)

The startup plans to use its new finances to continue developing its products and bolster its sales and marketing efforts. Roth said StreamLink will continue to invest in new industry segments, with a focus on government and higher education.

A group of Ohio angel investors led the $3.5 million funding round in StreamLink. Chicago-based firms Hyde Park Venture Partners and Hyde Park Angels also participated in the investment, along with Blu Venture Investors from Virginia and North Coast Angel Fund from Ohio.

The six year-old StreamLink currently has 33 employees, up from 18 at the end of 2012.