CEI Ventures

CEI Ventures, Inc. is a private equity and venture capital firm based in Brunswick, Maine, and serves as the investment arm of Coastal Enterprises, Inc. Established in 1994, the firm focuses on seed, early-stage, and mid-venture investments, as well as recapitalizations and growth capital. CEI Ventures aims to support emerging and transforming companies, particularly in underserved markets throughout the Northeastern United States, with a strong preference for investments in Maine. The firm typically invests between $250,000 and $1 million and often engages in multiple financing rounds. CEI Ventures seeks to exit its investments within five to seven years and generally aims to take a board seat in its portfolio companies. Its investment focus spans various sectors, including biotechnology, consumer products, media, healthcare, and information technology services.

Chandler Jones

Managing Director

Past deals in Maine

HighByte

Convertible Note in 2023
HighByte, Inc. specializes in developing DataOps software tailored for industrial enterprises to address data architecture and integration challenges. Founded in 2018 and based in Portland, Maine, the company offers the HighByte Intelligence Hub, a solution that seamlessly combines real-time, transactional, and time-series data into a single payload for applications. This enables manufacturers to securely collect, model, and transfer valuable industrial data without the need for coding or extensive maintenance. By facilitating rapid system integration and leveraging contextualized data for analytics and artificial intelligence, HighByte helps businesses govern data standards across their operations, enhancing overall efficiency and data utilization.

HighByte

Seed Round in 2021
HighByte, Inc. specializes in developing DataOps software tailored for industrial enterprises to address data architecture and integration challenges. Founded in 2018 and based in Portland, Maine, the company offers the HighByte Intelligence Hub, a solution that seamlessly combines real-time, transactional, and time-series data into a single payload for applications. This enables manufacturers to securely collect, model, and transfer valuable industrial data without the need for coding or extensive maintenance. By facilitating rapid system integration and leveraging contextualized data for analytics and artificial intelligence, HighByte helps businesses govern data standards across their operations, enhancing overall efficiency and data utilization.

CourseStorm

Seed Round in 2019
CourseStorm, Inc. is a company that specializes in developing an online class registration software tailored for local programs. Founded in 2011 and headquartered in Orono, Maine, CourseStorm provides a comprehensive platform that simplifies the class registration process for various community programs, including education, kids’ camps, health, arts, music, and recreational activities. The platform manages class registration, publishing, marketing, and credit card transactions, thereby alleviating the challenges associated with manually recruiting students and processing registrations. By enabling community education and college programs to publish their catalogs online, CourseStorm facilitates a seamless experience for students seeking to find and enroll in their preferred classes.

Dream Local Digital

Series A in 2019
Dream Local Digital is a digital marketing agency based in Rockland, Maine, specializing in providing comprehensive marketing services to small and medium-sized businesses, as well as non-profit organizations across the United States. Founded in 2009, the company offers a range of services including online marketing strategy development, social media management, email marketing, reputation management, and SEO analysis. In addition to its core offerings, Dream Local Digital collaborates with partners to provide services such as search engine marketing, website design and management, and business intelligence reporting. The agency has built a reputation for working closely with newspapers, media companies, and advertising agencies to enhance their online presence and marketing effectiveness. Dream Local Digital is recognized as a Google Partner and a certified Facebook Blueprint company, reinforcing its commitment to delivering high-quality digital marketing solutions.

Mobile Price Card

Series A in 2018
Mobile Price Card, Inc. is a company based in Bangor, Maine, that specializes in developing a mobile application for wireless retailers. Founded in 2017, the company offers digital price cards that can be quickly updated through a user-friendly web-based dashboard. This application allows retailers to display dynamic content on in-store display devices, enhancing their advertising efforts by presenting targeted consumer messages at the point of purchase. By utilizing existing display devices, Mobile Price Card helps consumer electronics retailers save time and money while improving sales effectiveness. The platform aims to streamline the process of content management, enabling retailers to respond swiftly to market changes and customer needs.

Hyperlite Mountain Gear

Venture Round in 2018
Hyperlite Mountain Gear Inc. specializes in designing and manufacturing ultralight outdoor products tailored for adventure enthusiasts. Founded in 2010 and based in Biddeford, Maine, the company offers a range of items including backpacks, tents, shelters, tarps, and accessories, all crafted from durable Cuben Fiber material. Their products are designed to enhance the outdoor experience by improving weight, durability, and versatility, thereby enabling users to hike, backpack, climb, pack-raft, kayak, or cycle with greater efficiency and enjoyment. Hyperlite Mountain Gear markets its offerings online, providing a variety of backpack sizes and component tent systems to meet the diverse needs of adventurers.

Tilson

Series D in 2017
Tilson, headquartered in Maine, is an independent IT project management firm with approximately 100 employees. It specializes in network deployment and IT services for telecom, construction, utility, and government clients. Services include wireless site acquisition and construction, small cell and DAS for mobile carriers, public safety, and smart grid applications. Additionally, Tilson offers IT project management, information security consulting, software development, and fiber optic engineering services. The company operates from offices in Portland, Maine; Syracuse, New York; Pittsburgh, Pennsylvania; and Foley, Alabama.

Maine Craft Distilling

Venture Round in 2016
Maine Craft Distilling, LLC is a craft distillery based in Portland, Maine, specializing in the production of small-batch spirits, including gin, rum, and whiskey. Founded in 2012 and originally known as Davidson & Farber, LLC, the company emphasizes a farm-to-flask approach by collaborating closely with local farmers to source high-quality agricultural products. Maine Craft Distilling combines traditional distilling methods with innovative techniques to create unique spirits that reflect the region's character. The distillery's commitment to using local ingredients not only supports the community but also enhances the flavor profiles of its products, making them distinctive in the craft spirit market.

Pika Energy

Venture Round in 2016
Pika Energy, Inc., based in Westbrook, Maine, specializes in the development, manufacture, and sale of small wind turbines and related electronic components tailored for the residential market. Founded in 2010 by engineers from MIT, the company produces a range of products including the T701 home wind turbine, the S2001 PV Link solar add-on, battery converters for energy storage systems, and hybrid inverters that connect renewable energy setups to the utility grid. Pika Energy's innovative platform utilizes a patented REbus DC Nanogrid, which enables efficient power transmission and control among solar arrays, smart batteries, and the grid. The company serves homeowners and small businesses across North America and beyond, selling its products through a trained network of dealers and installers. All products are designed and manufactured in the United States, highlighting a commitment to domestic materials and production. Pika Energy operates as a subsidiary of Generac Holdings Inc.

Tilson

Series B in 2015
Tilson, headquartered in Maine, is an independent IT project management firm with approximately 100 employees. It specializes in network deployment and IT services for telecom, construction, utility, and government clients. Services include wireless site acquisition and construction, small cell and DAS for mobile carriers, public safety, and smart grid applications. Additionally, Tilson offers IT project management, information security consulting, software development, and fiber optic engineering services. The company operates from offices in Portland, Maine; Syracuse, New York; Pittsburgh, Pennsylvania; and Foley, Alabama.

Stillwater Scientific Instruments

Venture Round in 2005
Stillwater Scientific Instruments (SSI) is developing a device that dramatically decreases the time it takes to analyze chemical compounds in the laboratory. This device, a component of mass spectrometers will be sold to laboratory equipment manufacturers. Mass spectrometers are sold primarily in the biomedical and pharmaceutical industries, as well as environmental fields in which complex chemical mixtures must be accurately identified. This device was developed through research at the University of Maine, and Stillwater Scientific Instruments was founded to commercialize this technology. The project has received funding from the National Science Foundation and the Maine Technology Institute.
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