Madison’s Solomo Technology Wins $100K Steve Case Investment
[Corrected 10/8/14, 10:41 a.m. See below.] Solomo Technology founder and CEO Liz Eversoll walked away with a $100,000 investment from AOL co-founder Steve Case after she won yesterday’s startup pitch competition in Madison, WI. The event was part of the “Rise of the Rest Road Trip” highlighting emerging startup clusters in the Midwest.
Eversoll also won a trip to pitch at the South by Southwest Startup Village in March, where she could win more funding.
Eversoll beat out presentations at Madison’s Majestic Theatre yesterday by eight other local startups: WholeTrees, Stemina Biomarker Discovery, Project Foundry, Codaworx, Fishidy, Murfie, Beekeeper Labs, and MobCraft Beer. The finalists were handpicked from more than a hundred applications, organizers said.
The judges included Case, who is now chairman and CEO of Washington, D.C., venture capital firm Revolution; Tige Savage, Revolution co-founder; former NFL wide receiver Al Toon; Lori Benson, who advises executives; and Becky Splitt, head of strategic initiatives for Madison-based edtech startup StudyBlue. [An earlier version of this paragraph incorrectly listed Splitt’s title as CEO. Co-founder Chris Klundt is now the CEO. We regret the error.]
Eversoll’s company has developed a system of software and sensor devices to connect retailers, hotels, and other businesses with consumers. Solomo raised a $1.7 million Series A round last year from Madison-based Venture Management, Milwaukee angel investor Don Layden, Madison-based Wisconsin Investment Partners, and the Wisconsin Economic Development Corp.
The bus tour’s Madison itinerary also included a fireside chat with Case and a happy hour reception. The bus tour continues this week with visits to Minneapolis; Des Moines, IA; Kansas City; and St. Louis. It’s the second such road trip, following June’s tour that included a stop in Detroit.