Draper Triangle Ventures

Draper Triangle, LLC is a venture capital firm based in Pittsburgh, Pennsylvania, with additional offices in Cleveland, Detroit, Ann Arbor, and Columbus. Founded in 1999, the firm specializes in early-stage investments, focusing on technology-driven sectors such as software, information technology, life sciences, robotics, medical devices, and digital media. Draper Triangle primarily targets companies located in the Midwest, particularly in Pennsylvania, Ohio, and Michigan, investing between $250,000 and $2 million in initial funding rounds. The firm seeks to partner with entrepreneurs who have the potential to achieve significant sales growth within three to five years and prefers to take a lead investor role, often seeking a board seat in its portfolio companies. Over the years, Draper Triangle has invested in notable startups and is part of the Draper Venture Network, allowing it to collaborate with a global network of investors and leverage shared resources.

Will Indest

Venture Partner

Thompson Jones

Managing Director

Jay Katarincic

Managing Director and Co-Founder

Jonathan Murray

Venture Partner

Past deals in Pennsylvania

Locomation

Venture Round in 2020
Locomation, Inc. is a technology company based in Pittsburgh, Pennsylvania, that specializes in developing advanced trucking solutions through artificial intelligence and driver augmentation. Founded in 2016, the company focuses on enhancing safety and efficiency in the trucking industry with its innovative platform. Locomation's technology utilizes relay convoying, where a human-driven lead truck is followed by an autonomous truck, allowing for improved operational efficiency and cost reduction for trucking companies. The platform aims to eliminate truck-involved accidents and is applicable to various sectors, including commercial and defense transportation.

Ikos

Venture Round in 2019
Ikos Holdings Co. operates an online platform that connects landlords and renters, streamlining the rental experience for both parties. Founded in 2017 and based in Pittsburgh, Pennsylvania, the company offers a flexible on-demand leasing service for investors while utilizing data analysis to guide client investments. By simplifying the rental process, Ikos helps landlords and renters make informed decisions, fostering transparency and adaptability in their interactions. The platform aims to enhance the way individuals engage with rental properties, ultimately benefiting the real estate market.

Babel Health

Series A in 2019
Babel Health, LLC develops a cloud-based risk adjustment platform for government-sponsored health programs. It offers a cloud-based Software-as-a-Service platform that allows users to manage compliant submissions across encounter data processing system (EDPS), risk adjustment payment system (RAPS), and Medicaid lines of businesses; and mapping and edit rules engine, which allows users to configure translations through web-based tools. The company was founded in 2014 and is based in Pittsburgh, Pennsylvania.

Locomation

Seed Round in 2018
Locomation, Inc. is a technology company based in Pittsburgh, Pennsylvania, that specializes in developing advanced trucking solutions through artificial intelligence and driver augmentation. Founded in 2016, the company focuses on enhancing safety and efficiency in the trucking industry with its innovative platform. Locomation's technology utilizes relay convoying, where a human-driven lead truck is followed by an autonomous truck, allowing for improved operational efficiency and cost reduction for trucking companies. The platform aims to eliminate truck-involved accidents and is applicable to various sectors, including commercial and defense transportation.

ContainerShip

Seed Round in 2016
Containership, Inc. owns and operates a cloud based Platform-as-a-Service and continuous delivery system for containers. It offers an open source Docker hosting platform that provides application deployment, cluster scheduling, and service discovery; and hosted service, which includes automated provisioning, marketplace integrations, load balancing, and cluster snapshots. The company was incorporated in 2015 and is based in Pittsburgh, Pennsylvania.

Acrobatiq

Series A in 2015
Acrobatiq, supported by Carnegie Mellon University, focuses on enhancing online learning through a data-driven approach that leverages research from the Open Learning Initiative. The company offers a learning optimization platform that provides educational institutions with tools for creating adaptive eLearning courses. This platform includes online authoring tools, templates, and assessment libraries that facilitate the collaborative development of personalized learning experiences. By analyzing learning data, Acrobatiq enables adaptive instruction, allowing educators to identify students who may need additional support. This integration of learning science, technology, and data aims to improve educational outcomes and make quality learning more accessible, especially as the demand for post-secondary credentials continues to rise.

Thread

Series A in 2015
Thread LLC, founded in 2010 and located in Pittsburgh, Pennsylvania, specializes in producing fabric from recycled plastic waste, particularly sourced from the developing world. The company converts trash and plastic bottles into raw materials, which are then used to create fabric for bags, garments, and accessories. Thread's approach not only addresses environmental concerns but also enhances the social impact and value of products for apparel and accessories brands that utilize its fabric. Through its Ground to Good storytelling platform, Thread shares the narratives of individuals whose lives have been positively affected by the fabric-making process, highlighting the collection of over 6 million bottles monthly from communities in Haiti and Honduras and supporting nearly 2,700 income opportunities.

RE2, Inc.

Series A in 2014
RE2 Robotics, located in Pittsburgh, PA, is a Carnegie Mellon spin-off. We were founded in 2001 by Jorgen Pedersen on the principles of developing innovative robotic technologies that save lives and improve quality of life. Our team designs mobile manipulation technologies that enable robot users to remotely interact with the world -- whether on the ground, in the air, or underwater. Our intuitive systems are easy to operate and enable users to remotely perform dangerous tasks. Our main customer is the Military and over 400 of our robotic arms have been deployed overseas for EOD missions.

Rhiza

Series A in 2014
Rhiza, Inc. is a company that specializes in developing an online marketing analytics platform designed to make big data actionable for marketers and sales professionals. Founded in 2008 and headquartered in Pittsburgh, Pennsylvania, with an additional office in Seattle, Rhiza provides tools that enable media publishers to enhance their advertising sales and help marketers optimize targeted media purchases and track campaign effectiveness. The platform allows users to visualize, analyze, and share insights derived from diverse data sets, facilitating informed decision-making. Rhiza's innovative solutions are utilized by leading media organizations such as BBC Worldwide, Comcast, and Univision, positioning the company as a pivotal player in transforming how media companies generate revenue through data-driven strategies. As of February 2017, Rhiza operates as a subsidiary of Nielsen Holdings plc.

BodyMedia

Venture Round in 2012
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.
ClearCount Medical Solutions specializes in patient safety solutions for the operating room, focusing on the prevention of medical errors. The company has developed an innovative sponge management system that integrates counting and detection capabilities, enhancing surgical efficiency and patient safety. Utilizing radio frequency identification (RFID) technology, ClearCount's platform enables quick reconciliation of sponge counts during procedures. In cases where a count does not reconcile, the SmartWand™ device assists in locating any missing sponges, further minimizing risks associated with retained surgical items. Through these advancements, ClearCount Medical Solutions aims to improve operational efficiency in surgical environments while ensuring better outcomes for patients.

Helomics

Series D in 2010
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

Directworks

Venture Round in 2010
Directworks is a supply chain software company that specializes in providing manufacturers with tools to enhance collaboration with suppliers and streamline the sourcing process for direct materials. Its platform enables manufacturers to engage suppliers effectively, share and collaborate on product design documents securely, and efficiently gather and analyze quotes. By facilitating communication among cross-functional product teams and direct materials suppliers, Directworks helps manage the entire product lifecycle from supplier selection and costing to parts qualification and launch. The software also supports initiatives aimed at improving the profitability of active products and allows manufacturers to monitor and manage supplier performance. Through these capabilities, Directworks aids manufacturers in making informed, cost-effective sourcing decisions, ultimately contributing to the development and delivery of more profitable products.

Inspired Technologies

Series B in 2009
Inspired Technologies (North Huntingdon, PA) a commercial-stage medical device company focused on auto-titration of oxygen delivery for COPD patients.

BitArmor Systems

Series B in 2009
BitArmor was a fast-growing security software company based in Pittsburgh, Pennsylvania. The company was acquired by Trustwave Holdings, Inc.

Helomics

Venture Round in 2008
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

BitArmor Systems

Series A in 2008
BitArmor was a fast-growing security software company based in Pittsburgh, Pennsylvania. The company was acquired by Trustwave Holdings, Inc.

Inspired Technologies

Series A in 2007
Inspired Technologies (North Huntingdon, PA) a commercial-stage medical device company focused on auto-titration of oxygen delivery for COPD patients.

Plextronics

Series B in 2007
Plextronics specializes in printed electronics. The company's focus is on organic light emitting diode (OLED) displays and lighting, specifically conductive inks and associated process technologies. Plextronic's technology will enable the mass production of these printed devices and therefore lower the cost.

Plextronics

Series A in 2006
Plextronics specializes in printed electronics. The company's focus is on organic light emitting diode (OLED) displays and lighting, specifically conductive inks and associated process technologies. Plextronic's technology will enable the mass production of these printed devices and therefore lower the cost.

Helomics

Funding Round in 2006
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

Aethon

Series D in 2005
Aethon offers automated hospital delivery and asset management solutions. TUG®, Aethon's Automated Robotic Delivery System (ARD), can transport both scheduled and on-demand hospital deliveries between all ancillary, support and patient care units. Aethon's TUG provides a cost-effective and non-disruptive infrastructure for asset tracking, leveraging interference-free RFID technology to locate missing equipment throughout the hospital.

BodyMedia

Series E in 2005
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.

Renal Solutions

Series B in 2005
Renal Solutions is focused on the development of dialysis products and services. Renal Solutions was acquired by Fresenius Medical Care in November 2007. Renal Solutions was founded in 2000 and is based in Warrendale, Pennsylvania.

Haley Systems

Series A in 2004
Haley Systems is a global leader in rule-based programming and automation of managed knowledge within business solutions. The company specializes in enabling organizations to articulate and manage their business knowledge, best practices, and policies through plain English sentences. By embedding artificial intelligence into these sentences, Haley Systems integrates them with existing information technology, allowing for automation without extensive software development. Their solutions operate across a wide range of computing platforms, from mainframes to handheld devices, enhancing business agility, reliability, and profitability. Haley Systems also offers consulting, training, and support services, and its software is embedded in numerous commercial applications utilized by major corporations across various sectors, including customer relationship management in financial services and telecommunications.

Helomics

Series C in 2003
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

BodyMedia

Series C in 2003
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.

Renal Solutions

Series A in 2002
Renal Solutions is focused on the development of dialysis products and services. Renal Solutions was acquired by Fresenius Medical Care in November 2007. Renal Solutions was founded in 2000 and is based in Warrendale, Pennsylvania.

Helomics

Series B in 2001
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

Carnegie Learning

Series B in 2001
Carnegie Learning is a prominent publisher of research-based math curricula tailored for middle school, high school, and post-secondary students across the United States. The company specializes in providing differentiated instruction through a suite of innovative educational resources, including textbooks, artificial intelligence-driven learning software, and professional development services. Its platform focuses on conceptual learning and offers adaptive personalized education, enabling K-12 and college students to enhance their understanding of mathematics. Additionally, Carnegie Learning integrates project-based computer science and coding curricula, supporting students not only in math but also in essential 21st-century skills, ultimately facilitating their academic success and preparation for graduation.

IC Mechanics

Series A in 2001
IC Mechanics specializes in the design and manufacturing of micro-electromechanical systems (MEMS) sensor integrated circuits. The company focuses on creating smart sensors that are cost-effective, highly sensitive, and capable of operating at higher bandwidths while being smaller and lighter than existing solutions. This innovation is achieved through a unique sensor geometry and a manufacturing process that utilizes commodity CMOS VLSI wafers. By exceeding current standards in cost, sensitivity, bandwidth, and mass, IC Mechanics aims to foster the development of new devices and applications across various markets. Their products are particularly targeted at original equipment manufacturers (OEMs) seeking affordable and highly integrated motion sensing and motion control solutions.

Helomics

Series A in 2001
Helomics is a personalized healthcare company based in Pittsburgh, Pennsylvania, specializing in oncology insights and contract research services. The company focuses on six primary cancers: ovarian, breast, pancreatic, colon, lung, and brain. Helomics utilizes its Precision Cellular Analytical Platform and advanced bioinformatics to deliver personalized tumor profiles, aiding physicians in making informed treatment decisions. Its portfolio includes ChemoFx, which helps in selecting effective treatments for gynecologic cancer, and various biomarker tests like BioSpeciFx and GeneFx, designed to evaluate patient tumors at a molecular level. Additionally, Helomics offers tumor profiling services, patient-derived tumor models, and multi-omics assays, enhancing the precision of cancer care. The company collaborates with pharmaceutical and diagnostic firms to improve patient outcomes through tailored diagnostic solutions and insights, ultimately supporting better clinical decision-making in oncology.

CLUBCOM

Series B in 2001
Provider of television broadcasting services catering to the health club and gymnasium sector. The company specializes in providing customized audio or video entertainment and proprietary advertising programs to commercial health clubs.

BodyMedia

Series A in 2000
BodyMedia, founded in 1999 and based in Pittsburgh, PA, specializes in wearable body monitoring devices that gather physiological data to enhance health, wellness, and fitness. The company offers a range of continuous on-body monitors that utilize proprietary technology validated for clinical accuracy. These devices serve both consumers and health professionals, facilitating behavioral adjustments aimed at weight management and active living—critical factors in addressing serious health issues. BodyMedia's products include a calorie management system that tracks calories burned against those consumed, alongside body monitoring systems that record various physiological metrics analyzed through its SenseWear software. The company has contributed significantly to health research, participating in over 100 clinical studies related to obesity, diabetes, and other medical conditions, thereby creating one of the largest databases of human physiological information.

OnlineChoice

Venture Round in 2000
OnlineChoice.com™ is a service that uses the power of the Internet and the power of group buying for Their customers. The company, located in Pittsburgh, PA, was founded in August 1999 with the venture backing of DQE Enterprises, Draper Triangle Ventures, Lycos Ventures, The Hillman Company and Homestore.com. OnlineChoice™ operates on the principle of “Group Buying Power.” Suppliers of goods and services save money on marketing costs if they sell to a single, large group of people, rather than to individuals. Applying this theory, OnlineChoice™ uses the convenience of the Internet to collect groups of consumers interested in saving money on goods and services such as electricity, natural gas, communication services and more.
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