Enterprise software company Wellspring has received $5 million in funding. The funding will be used for enhancing their product and technology position and for expanding their corporate research and development along with clinical and academic research markets. MK Capital led this round of funding.
Wellspring is a Chicago-based company that was founded in 2003 and spun out of Carnegie Mellon University. The company started by offering technology transfer software solutions to universities and hospitals.
Wellspring?s Sophia software platform is used at several universities around the world and in hospitals like University Hospitals/Case Medical Center and Children?s Hospital of Los Angeles. It is also used by corporations like Johnson & Johnson.
?Wellspring has the great fortune to work with companies and universities at the forefront of innovation. We are at an exciting time. We?re transforming how R&D is done across the innovation value chain,? stated Wellspring CEO Dr. Robert Lowe. ?We?re excited to tap MK Capital?s experience in enterprise software and phenomenal investment track record.?