Plug and Play Cleveland Makes First Investment

CLEVELAND, April 11, 2018 /PRNewswire/ -- Plug and Play Cleveland has made its first investment closing a Series A round with Cleveland-founded company, Remesh.

Remesh is a platform that uses artificial intelligence to facilitate live conversations around research questions, replacing polling with real-time interactive customer experiences.

The funding was part of a $10 million Series A funding round led by General Catalyst. This investment comes just 10 months after LionBird Ventures lead the $2.5 million seed round with participation from Cleveland-based North Coast Angel Fund and Techstars.

"Innovation isn't limited to Silicon Valley. Plug and Play Cleveland is excited to work with Remesh to accelerate the application of artificial intelligence in business intelligence and market research," said Plug and Play Director of Health Investments, Neda Amidi. "Remesh has had solid Cleveland-based funding support that created an opportunity for Plug and Play to participate in the next level."

"Attracting world class partners like General Catalyst and Plug and Play is a testament to the great team that Remesh has assembled," said North Coast Angel Fund's Managing Director, Todd Federman. "Plug and Play will provide Remesh with a huge boost by creating exposure to the global corporate community."

Founded in Cleveland in July 2013, Remesh is a graduate of the Barclay Accelerator powered by Techstars and a 2014 graduate of the Cleveland-based Flashstarts accelerator, also an early investor in the company.

"Plug and Play has existing corporate relationships and valuable networks that would have taken us years to develop," said Andrew Konya, CEO of Remesh. "Through Plug and Play's timely and expeditious investment, we now have access to a network that will enhance how we help customers quickly and accurately make decisions with far reaching impact."

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in 21 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, LendingClub, PayPal, SoundHound, and Zoosk. www.plugandplaytechcenter.com.

Plug and Play Cleveland Contact
Chantel Moody, 216.534.8771, chantel@pnptc.com

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SOURCE Plug and Play