Nebraska Global, the Lincoln-based software investment fund, announced that Beehive Industries has closed on a $2.5M Series A financing led by Advantage Capital Partners, a growth capital and small business finance firm. Beehive, launched in 2011 in Nebraska Global’s incubator, is a provider of asset and infrastructure management software for state and local government, utilities, construction, telecommunications, and other asset-intensive industries.
This round of capital is earmarked for expansive sales and marketing growth throughout the U.S. The positive response to Beehive’s solutions has created the need to expand its team and operations throughout the country. The company is looking to add 20-30 additional jobs.
“Beehive embodies the Nebraska Global model,” said Patrick Smith, Principal and co-founder of Nebraska Global, and advisor to Beehive. “We assembled a team around a passionate founder with an idea and domain expertise, provided the initial funding, product development and support, and grew revenue into the seven figures to get it positioned for scaled expansion and a Series A round. We now welcome Advantage Capital to the team.”
Nebraska Global has provided all of the funding since its inception.
“We are excited about our investment with Beehive Industries. Their future is bright and we are looking forward to their expansion and the jobs our investment will foster in Nebraska,” stated Tony Metzner, Vice President at Advantage Capital Partners.
Both Nebraska Global and Beehive look forward to the newly formed partnership with Advantage Capital and their team. This new relationship will continue to enable each to greatly impact venture financing and business growth throughout the State of Nebraska.
