Philadelphia-based business development company Microshare has secured $5 million in funding, according to company database Crunchbase, topping the city's recent funding headlines. The cash infusion was announced February 12 and financed by Motley Fool Ventures.
According to its Crunchbase profile, "Microshare is a data leverage platform for the IoT era, providing a solution to sharing, privacy, security, audit, confidentiality, data monetization and cost savings. In an increasingly complex environment defined by cloud, social, mobile, sensors, and the Internet of Things, data access and controlled sharing present the biggest opportunities and largest challenges. With increased volumes and types of data come increased regulation, security and privacy concerns."
The six-year-old company has raised four previous funding rounds, including a $2.3 million round in 2017.
The round brings total funding raised by Philadelphia companies in software over the past month to $7.3 million. The local software industry has seen 24 funding rounds over the past year, yielding a total of $67 million in venture funding.
In other local funding news, video games company N3rd Street Gamers announced a $2.5 million Series A funding round on February 8, led by Love Confirmed.
According to Crunchbase, "NSG is America's premier esports pipeline for developing competitors, where gamers become athletes and fans can watch humble beginnings become storied careers."
The company has raised two previous rounds, including a $1.3 million round in 2018.
Meanwhile, artificial intelligence company Orai raised $2.3 million in seed funding, announced on February 19. The round's investors were led by Comcast Ventures.
From the company's Crunchbase profile, "Enterprises use Orai to run communication and soft skill training in a cost effective and scalable manner. Orai is an AI speech coach that helps people become more effective and confident communicators. We have over 100k users on our iOS and Android app, and to date Orai has given AI-driven feedback on over 500k recordings."
Orai last raised pre-seed funding in 2018.
Also of note, biopharma company Enterin raised $1.6 million in Series B funding, announced on February 1 and financed by New Ventures III.
From Crunchbase, "Enterin Inc. is the first company in the world to develop a novel drug that repairs the dysfunctional gut-brain axis in patients with neurodegenerative disease. Enterin Inc. is pioneering the medical community's understanding of the link between infections, dysfunction of the enteric nervous system of the gut, and the early onset and chronic progression of neurodegenerative disease. The lead compound, ENT-01, displaces membrane-bound alpha-synuclein (S) aggregates from nerve cells in the enteric nervous system and improves neural signaling between the gut and the brain in preclinical models of Parkinson's disease."
The company previously raised $12 million in Series A funding in 2017.
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Microshare, N3rd Street Gamers, and Orai top Philadelphia's recent funding news