Draper Triangle

Draper Triangle, LLC is a venture capital firm founded in 1999 and based in Pittsburgh, Pennsylvania. The firm primarily focuses on early-stage investments in technology companies within the Midwest region of the United States, particularly in Pennsylvania, Ohio, and Michigan. Draper Triangle specializes in sectors such as information technology, life sciences, software, and medical devices, aiming to partner with entrepreneurs who are poised to create transformative businesses. The firm typically invests between $250,000 and $2 million in initial funding rounds and prefers to take a lead investor role, often seeking a board seat in its portfolio companies. With a track record of supporting notable startups, Draper Triangle is part of the Draper Venture Network, which fosters collaboration among independent venture funds globally. Through this network, Draper Triangle leverages collective insights and resources to enhance its investment strategy and generate value for its stakeholders.

Will Indest

Managing Director and Venture Partner

Tom Jones

Managing Director

Jack Katarincic

MD and Managing Partner

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 the development of a trucking platform integrating artificial intelligence with driver support systems. Founded in 2016, Locomation focuses on enhancing safety in the trucking industry by utilizing AI-driven solutions to reduce accidents involving trucks. The company's offerings include autonomous vehicles and systems designed for both commercial and defense applications, aiming to improve operational efficiency and safety in logistics.

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 the development of a trucking platform integrating artificial intelligence with driver support systems. Founded in 2016, Locomation focuses on enhancing safety in the trucking industry by utilizing AI-driven solutions to reduce accidents involving trucks. The company's offerings include autonomous vehicles and systems designed for both commercial and defense applications, aiming to improve operational efficiency and safety in logistics.

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, backed by Carnegie Mellon is scaling the pioneering research in online learning from CMU's Open Learning Initiative (OLI) and enabling educational institutions to improve learning outcomes at reduced costs through data-driven, personalized learning solutions. Our learning-science based approach to course design, and breakthrough analysis and modeling of learning data enables adaptive instruction for students, and gives faculty visibility into who is learning, who’s not, and where help is needed. Together, this convergence of learning science, technology, and data is empowering more students to succeed at a time when post-secondary credentials are more in demand than ever.

Thread

Series A in 2015
Thread transforms plastic waste from the developing world into socially and environmentally responsible fabric. Apparel and accessories brands use Thread fabric to instantly improve the social impact, carbon footprint, and value of their own goods. Thread captures the stories of the people whose lives have been transformed by their fabric-making process, measures impact data and helps brands share that narrative with customers through their Ground to Good storytelling platform. Thread fabric already supports nearly 2,700 income opportunities and collects over 6 million bottles from the neighborhoods of Haiti and Honduras each month.

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, Inc.

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 pioneered the development of wearable body monitors that collect physiological data for use in improving health, wellness and fitness. Founded in 1999, the company today provides a variety of around-the-clock on-body monitors utilizing proprietary technology that has been clinically validated for accuracy. Data captured by BodyMedia devices is used by consumers as well as health and wellness professionals to guide behavioral changes to control weight and promote an active lifestyle – two factors that are routinely cited as keys to combat and manage serious medical conditions. BodyMedia has amassed one of the largest databases of information about the human body, and the technology has been used in more than 100 clinical research studies covering health issues such as obesity, COPD, diabetes, cystic fibrosis, cancer, bariatrics, sleep and intensive care. BodyMedia is privately held and based in Pittsburgh, PA. For more information, visit www.bodymedia.com.
ClearCount Medical Solutions is the only provider of a sponge management system that combines the benefits of counting and detection. Counts can be quickly reconciled and in the event of a non-reconciliation, a missing sponge can be located using the SmartWandâ„¢. ClearCount innovations bring to market a comprehensive sponge reconciliation and detection solution that improves patient safety and operational efficiency.

Helomics

Series D in 2010
Helomics® is a comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

Directworks

Venture Round in 2010
Global manufacturers strive to select the right suppliers for the direct materials that they use to build their products. We provide manufacturers with a powerful solution to engage suppliers, securely share and collaborate on product design documents, more efficiently gather and analyze quotes, and quickly assess the key factors required to make the best cost-for-value sourcing decisions

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 comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

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 comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

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 pioneered the development of wearable body monitors that collect physiological data for use in improving health, wellness and fitness. Founded in 1999, the company today provides a variety of around-the-clock on-body monitors utilizing proprietary technology that has been clinically validated for accuracy. Data captured by BodyMedia devices is used by consumers as well as health and wellness professionals to guide behavioral changes to control weight and promote an active lifestyle – two factors that are routinely cited as keys to combat and manage serious medical conditions. BodyMedia has amassed one of the largest databases of information about the human body, and the technology has been used in more than 100 clinical research studies covering health issues such as obesity, COPD, diabetes, cystic fibrosis, cancer, bariatrics, sleep and intensive care. BodyMedia is privately held and based in Pittsburgh, PA. For more information, visit www.bodymedia.com.

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 comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

BodyMedia

Series C in 2003
BodyMedia pioneered the development of wearable body monitors that collect physiological data for use in improving health, wellness and fitness. Founded in 1999, the company today provides a variety of around-the-clock on-body monitors utilizing proprietary technology that has been clinically validated for accuracy. Data captured by BodyMedia devices is used by consumers as well as health and wellness professionals to guide behavioral changes to control weight and promote an active lifestyle – two factors that are routinely cited as keys to combat and manage serious medical conditions. BodyMedia has amassed one of the largest databases of information about the human body, and the technology has been used in more than 100 clinical research studies covering health issues such as obesity, COPD, diabetes, cystic fibrosis, cancer, bariatrics, sleep and intensive care. BodyMedia is privately held and based in Pittsburgh, PA. For more information, visit www.bodymedia.com.

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 comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

Carnegie Learning

Series B in 2001
Carnegie Learning is a leading publisher of innovative, research-based math curricula for middle school, high school, and post-secondary students. Providing differentiated instruction to schools across the United States, Carnegie Learning is helping students to succeed in math, creating a gateway to graduation and preparing them for the 21st century.

IC Mechanics

Series A in 2001
IC Mechanics is changing the way Smart MEMS Sensor ICs are designed, manufactured and employed. Compared to existing MEMS smart sensors, those from IC Mechanics will: Cost less Have higher sensitivity Be capable of higher bandwidth Be of a smaller size and lower mass This is possible through the combination of a novel sensor geometry and manufacturing process that is based on commodity CMOS VLSI wafers. By breaking through current standards for cost, bandwidth, sensitivity, and mass, IC Mechanics' smart sensors will enable the creation of a world of new devices, new applications and new markets. IC Mechanics products will target a wide range of OEMs requiring very low-cost, highly-integrated motion sensing and motion control ICs.

Helomics

Series A in 2001
Helomics® is a comprehensive personalized healthcare company, bringing the next generation of diagnostics to the oncology field. Helomics is dedicated to improving patient outcomes by providing a personalized comprehensive tumor profile utilizing a proprietary set of laboratory platforms that leverage both tissue-based live and fixed cellular based analysis allowing physicians to characterize malignant tumors on a personalized basis. Helomics’ novel molecular and cellular markers and bioinformatics services support treatment decisions by providing vital information based on the specific biological processes of each individual’s cancer.

BodyMedia

Series A in 2000
BodyMedia pioneered the development of wearable body monitors that collect physiological data for use in improving health, wellness and fitness. Founded in 1999, the company today provides a variety of around-the-clock on-body monitors utilizing proprietary technology that has been clinically validated for accuracy. Data captured by BodyMedia devices is used by consumers as well as health and wellness professionals to guide behavioral changes to control weight and promote an active lifestyle – two factors that are routinely cited as keys to combat and manage serious medical conditions. BodyMedia has amassed one of the largest databases of information about the human body, and the technology has been used in more than 100 clinical research studies covering health issues such as obesity, COPD, diabetes, cystic fibrosis, cancer, bariatrics, sleep and intensive care. BodyMedia is privately held and based in Pittsburgh, PA. For more information, visit www.bodymedia.com.

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.