Durham startup biospatial closes $3.4 million including funding from local investors

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DURHAM – A Durham-headquartered developer and provider of an emergency medical services data platform, biospatial, has raised a $3.4 million Series A fundraising round.

The equity raise was led by Cary-based venture capital firm Cofounders Capital and included participation from many other Triangle area investors and firms, according to the company’s statement.

An SEC filing discloses a total of 26 investors who together provided $3,408,733 in equity funding.  Though the filing was signed recently, the company announced the funding earlier this year.


Bull City Venture Partners and IDEA Fund Partners both invested in the company’s latest round of funding, according to the statement.

That makes this funding round the first where each of the three investment firms based in the Triangle have been co-investors in a deal.

“Data is what makes the world tick these days and companies like biospatial that have it, understand it, and make it actionable for their customers will be increasingly sought after and valued,” said David Gardner, the founder and managing partner of Cofounders Capital, in a statement.

Gardner is a member of the company’s board of directors, according to latest SEC filing.

The company’s board of directors also includes David Jones, the co-founder and general partner of Bull City Venture Partners, according to the filing.

“The biospatial team has done an amazing job of building their network of data partners to amass a highly valuable data asset and their rockstar machine learning and development teams have built a best-in-class platform to automatically extract actionable insights in near real-time,” said Jones in a statement.

As of March 2022, the biospatial platform “has ingested and analyzed over 150 million electronic Patient Care Reports (ePCRs) collected by thousands of EMS agencies in over 40 US states,” the statement reads.

According to the company’s statement, other investors in the Series A round included Front Porch Ventures, East Carolina Angels, Gratus Private Capital, and current investors Alerion Ventures and Wolfpack Investor Network.

The firm brought in more than $1.8 million in a fundraising round that closed in October 2020, and had previously raised more than $1.1 million in 2018 and $500,000 in 2019.

Original Article Source: WRAL