Wellspring Worldwide Lands $5M Investment Led by MK Capital
February 18, 2014
Wellspring Worldwide, a provider of enterprise software for managing research and innovation, has raised $5 million in financing led by MK Capital. The Chicago-based company was founded in 2003 as a spin-out of Carnegie Mellon University, initially providing technology transfer software solutions to universities and hospitals.
Today, Wellspring's Sophia Knowledge Supply Chain software enables companies, foundations, government agencies and universities to identify and capture value from knowledge assets and their network of collaborators. The company will use the fresh funds to strengthen its product and technology position within the R&D and product innovation markets, and to expand into the corporate R&D, clinical and academic research markets.