Early Stage Partners

Early Stage Partners, established in 2001, is a Cleveland-based private equity firm that specializes in early-stage venture capital financing. The company invests in technology-focused startups across the Midwest, with a particular interest in healthcare technologies, information technology, advanced manufacturing, and industrial technologies. Early Stage Partners typically invests between $1 million to $3 million per company, with an investment horizon of 5 to 7 years.

Charlie MacMillan

CFO

Jim Petras

Managing Director

38 past transactions

HistoSonics

Series B in 2017
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

OnShift

Series D in 2016
OnShift is a provider of cloud-based human capital management software specifically designed to address workforce challenges in post-acute and long-term care facilities. The company's platform includes a comprehensive suite of tools for hiring, scheduling, employee engagement, and talent acquisition, aimed at enhancing productivity and profitability for healthcare organizations. With features such as predictive analytics and intuitive design, OnShift empowers clients to maintain a consistent and engaged workforce, ultimately driving quality care and reducing operational costs. Thousands of senior living and post-acute care organizations rely on OnShift's solutions to effectively manage their staffing needs and improve overall performance.

Amplifinity

Series B in 2014
Amplifinity, LLC is a provider of referral program solutions for Fortune 500 companies, focusing on automating the management of B2B customer and partner referrals. Founded in 2007 and based in Ann Arbor, Michigan, the company offers its Advocate Management Platform (AMP), which includes tools for designing, launching, and analyzing marketing campaigns driven by word-of-mouth referrals. Key features of AMP include the Program Builder for campaign management and the Advocate Database for maintaining individual advocate profiles. Amplifinity's platform facilitates seamless tracking of referrals, automates reward fulfillment, and integrates with Salesforce to enhance sales referral productivity. Its services cater to various industries, including travel, financial services, and home goods. Amplifinity is a subsidiary of Impartner Software, Inc.

OnShift

Series C in 2014
OnShift is a provider of cloud-based human capital management software specifically designed to address workforce challenges in post-acute and long-term care facilities. The company's platform includes a comprehensive suite of tools for hiring, scheduling, employee engagement, and talent acquisition, aimed at enhancing productivity and profitability for healthcare organizations. With features such as predictive analytics and intuitive design, OnShift empowers clients to maintain a consistent and engaged workforce, ultimately driving quality care and reducing operational costs. Thousands of senior living and post-acute care organizations rely on OnShift's solutions to effectively manage their staffing needs and improve overall performance.

Juventas Therapeutics

Series B in 2012
Juventas Therapeutics, Inc. is a clinical-stage biotechnology company based in Cleveland, Ohio, founded in 2007. The company specializes in developing non-viral gene therapies aimed at activating the body's natural repair processes. Its primary focus is on treating non-healing wounds in patients with advanced peripheral artery disease. The flagship product, JVS-100, is a non-viral gene therapy that expresses stromal cell-derived factor-1 (SDF-1), a signaling protein that helps recruit the body's stem cells and promotes tissue repair across various disease states. Juventas has transitioned its therapeutic platform from concept to the initiation of mid-stage clinical trials, underpinned by exclusive licensing from the Cleveland Clinic and supported by various investors and grants.

OnShift

Series B in 2012
OnShift is a provider of cloud-based human capital management software specifically designed to address workforce challenges in post-acute and long-term care facilities. The company's platform includes a comprehensive suite of tools for hiring, scheduling, employee engagement, and talent acquisition, aimed at enhancing productivity and profitability for healthcare organizations. With features such as predictive analytics and intuitive design, OnShift empowers clients to maintain a consistent and engaged workforce, ultimately driving quality care and reducing operational costs. Thousands of senior living and post-acute care organizations rely on OnShift's solutions to effectively manage their staffing needs and improve overall performance.

LineStream Technologies

Series B in 2012
LineStream Technologies, Inc. specializes in the development of motor, motion, and industrial control software aimed at enhancing the performance of automated products and processes. Established in 2006 and headquartered in Cleveland, Ohio, the company offers embedded software solutions that can be integrated into a wide array of products, from household appliances to advanced manufacturing equipment. LineStream Technologies' software is designed to actively mitigate process disturbances, thereby improving system performance and simplifying control and tuning for users. The company was formerly known as ADRC Technologies, Inc. before rebranding in March 2010.

CytoPherx

Series C in 2012
CytoPherx (formerly Nephrion) clinical stage medical device company addressing inflammation-based diseases and conditions. The company’s products are custom configurations of a proprietary selective cytopheresis-based inflammation modulating system.

Amplifinity

Series A in 2011
Amplifinity, LLC is a provider of referral program solutions for Fortune 500 companies, focusing on automating the management of B2B customer and partner referrals. Founded in 2007 and based in Ann Arbor, Michigan, the company offers its Advocate Management Platform (AMP), which includes tools for designing, launching, and analyzing marketing campaigns driven by word-of-mouth referrals. Key features of AMP include the Program Builder for campaign management and the Advocate Database for maintaining individual advocate profiles. Amplifinity's platform facilitates seamless tracking of referrals, automates reward fulfillment, and integrates with Salesforce to enhance sales referral productivity. Its services cater to various industries, including travel, financial services, and home goods. Amplifinity is a subsidiary of Impartner Software, Inc.

SironRX Therapeutics

Series A in 2011
SironRX is developing novel therapies exclusively licensed from Juventas Therapeutics and Cleveland Clinic that promote dermal wound repair and reduce scarring. Our lead product is a clinically tested biopharmaceutical that encodes Stromal cell-Derived Factor-1 (SDF-1). SDF-1 is key molecule responsible for activating natural repair processes after tissue injury through prevention of cell death and recruitment of stem cells to the damaged organ. Studies from several laboratories suggest the therapeutic potential of SDF-1 for treatment of a range of wounds such as post-surgical incisions, chronic diabetic ulcers and burns. Development of a cost-effective interactive wound therapy that can be topically administered at the site-of-injury or in chronic wound care settings with the potential to significantly improve function of the damaged tissue will have a major impact on the multi-billion dollar advanced wound management market.

TOA Technologies

Series D in 2011
TOA Technologies specializes in field service management software designed for businesses operating in various industries, including telecommunications, utilities, healthcare, and retail. Its flagship product, ETAdirect, is a cloud-based solution that utilizes a patented time-based predictive analytics platform. This technology analyzes individual employee work patterns to optimize service routes and schedules based on real-time data. By ensuring that field employees arrive at appointments on time and equipped with the necessary tools and information, TOA Technologies enhances the efficiency of mobile workforce operations. The result is improved customer satisfaction through reduced wait times and increased productivity for field service teams.

OnShift

Series A in 2010
OnShift is a provider of cloud-based human capital management software specifically designed to address workforce challenges in post-acute and long-term care facilities. The company's platform includes a comprehensive suite of tools for hiring, scheduling, employee engagement, and talent acquisition, aimed at enhancing productivity and profitability for healthcare organizations. With features such as predictive analytics and intuitive design, OnShift empowers clients to maintain a consistent and engaged workforce, ultimately driving quality care and reducing operational costs. Thousands of senior living and post-acute care organizations rely on OnShift's solutions to effectively manage their staffing needs and improve overall performance.

AxioMed

Series D in 2010
AxioMed LLC is a medical device company based in Malden, Massachusetts, specializing in the design and development of disc replacement devices aimed at alleviating neck pain and restoring normal spinal function for patients suffering from degenerative disc disease. Founded in 2001, the company was previously known as AxioMed Spine Corporation and rebranded in November 2014. AxioMed has developed the Freedom® Lumbar Disc and is also working on a project for cervical disc replacement. The company emphasizes advancing the standard of care beyond traditional fusion techniques and first-generation artificial discs. Guided by CEO Patrick McBrayer and COO James Kuras, AxioMed boasts a team with significant expertise in spinal implants, complemented by a Medical Advisory Panel of surgeons from leading spine centers and universities. The company's facilities encompass product development, testing, clinical and regulatory affairs, and manufacturing.

Prevacept Infection Control

Series B in 2010
Prevacept Infection Control is a clinical-stage company focused on developing and commercializing products that prevent infections associated with indwelling catheters.

Intelligent Clearing Network

Venture Round in 2010
Intelligent Clearing Network, Inc. is a software-as-a-service company that specializes in the electronic validation and clearing of both paper and digital coupons, as well as other promotional incentives, for retailers in the grocery, drug, and mass merchant sectors. Founded in 2008 and headquartered in New Canaan, Connecticut, the company provides a fully automated end-to-end promotion management system that allows retailers to manage their promotions effectively while minimizing the risk of fraud and misredemption. Its services include promotion management, coupon validation, fraud protection, and direct-to-card offers. By offering a single connection to a retailer's point-of-sale system, Intelligent Clearing Network addresses common industry challenges and provides real-time redemption information to manufacturers, media companies, and retailers at the moment the incentive is processed.

Reverse Medical

Series B in 2010
Reverse Medical is a commercial-stage medical device company dedicated to the development of innovative solutions for neurovascular disorders, particularly in the management of acute ischemic strokes. The company specializes in creating embolic protection systems designed to enhance the revascularization process for patients experiencing these critical conditions. By concentrating on endovascular treatment options, Reverse Medical aims to improve patient outcomes and streamline interventions for stroke care, positioning itself as a key player in the medical technology sector.

HistoSonics

Series A in 2010
HistoSonics, Inc. is a medical technology company based in Plymouth, Minnesota, established in 2009. It specializes in developing non-invasive tumor ablation systems, notably the Edison platform. This innovative technology employs sonic beam therapy to deliver pulsed sound energy into the body, effectively liquefying and destroying targeted tissues at the sub-cellular level. By harnessing advanced imaging and proprietary sensing technology, HistoSonics provides personalized treatments with high precision and control, allowing physicians to continuously monitor the treatment's effects in real time. The platform aims to offer a safer alternative to traditional interventional and surgical methods by minimizing undesirable side effects associated with these approaches.

Juventas Therapeutics

Series A in 2008
Juventas Therapeutics, Inc. is a clinical-stage biotechnology company based in Cleveland, Ohio, founded in 2007. The company specializes in developing non-viral gene therapies aimed at activating the body's natural repair processes. Its primary focus is on treating non-healing wounds in patients with advanced peripheral artery disease. The flagship product, JVS-100, is a non-viral gene therapy that expresses stromal cell-derived factor-1 (SDF-1), a signaling protein that helps recruit the body's stem cells and promotes tissue repair across various disease states. Juventas has transitioned its therapeutic platform from concept to the initiation of mid-stage clinical trials, underpinned by exclusive licensing from the Cleveland Clinic and supported by various investors and grants.

EcoSMART Technologies

Venture Round in 2008
EcoSMART Technologies, Inc. is a manufacturer of pesticide solutions and pet care products that utilize natural ingredients. Founded in 1992 and headquartered in Atlanta, Georgia, the company specializes in a wide array of pest control products, including insecticides for ants, roaches, bed bugs, fleas, ticks, and a variety of garden fungicides and herbicides. EcoSMART distinguishes itself by offering a complete line of EPA-exempt pesticides that are effective and safe, relying on patented technology and extensive scientific research. The company’s formulations harness the natural defenses of plants, using essential oils that target insect neuro-receptors to effectively repel and eliminate pests without harmful toxins or residues. In addition to pest control solutions, EcoSMART provides pet care products such as shampoos, conditioners, and flea and tick treatments. The company markets its products online and through retail channels, positioning itself as a leader in safe pesticide solutions. EcoSMART operates as a subsidiary of Kittrich Corporation.

LineStream Technologies

Series A in 2008
LineStream Technologies, Inc. specializes in the development of motor, motion, and industrial control software aimed at enhancing the performance of automated products and processes. Established in 2006 and headquartered in Cleveland, Ohio, the company offers embedded software solutions that can be integrated into a wide array of products, from household appliances to advanced manufacturing equipment. LineStream Technologies' software is designed to actively mitigate process disturbances, thereby improving system performance and simplifying control and tuning for users. The company was formerly known as ADRC Technologies, Inc. before rebranding in March 2010.

Imalux Corporation

Series C in 2007
Imalux Corporation, an Ohio medical device company, is positioned to become the worldwide leader in the commercializationPhoto of medical imaging equipment and devices based on its proprietary Optical Coherence Tomography (OCT) technology. The Company’s products provide real-time, high spatial resolution imaging at the point-of-care in a variety of medical applications. OCT is a new imaging modality for visualization of tissue microstructure, especially in anatomical areas with stratified tissue. It has the ability to detect near-surface tissue abnormalities indicative of disease, which established imaging modalities might not detect. Many diseases, including cancer, are associated with superficial tissue structure disruption. Today, there is no commercialized in vivo method to visualize this tissue structure alteration; clinicians must do a biopsy and an ex vivo histopathological review using a conventional microscope. Imalux OCT products can be used to visualize structural disruptions in vivo at the point of care.

Blue Spark Technologies

Series A in 2007
Blue Spark Technologies, headquartered in Westlake, Ohio, specializes in developing innovative power source solutions for battery-powered printed electronic systems. The company produces thin and printable batteries tailored for wearable and flexible electronics, catering to various industries including food and beverage, pharmaceuticals, healthcare, and consumer products. Their product line includes carbon-zinc batteries for OEMs and system integrators, as well as TempTraq, a wearable wireless thermometer that monitors and alerts caregivers to changes in body temperature via a mobile application. Founded in 2002, Blue Spark Technologies was originally known as Thin Battery Technologies before rebranding in July 2008.

Five Star Technologies

Venture Round in 2006
Five Star Technologies is a supplier of high-performance dispersions, inks and pastes used in displays, photovoltaics, and microelectronic packaging. Combining its patented hydrodynamic cavitation process with innovative chemistry, Five Star produces the ElectroSperseâ„¢ series of inks and pastes as well as a wide range of precision dispersions. The ElectroSperse line features a range of conductive pastes with exceptional printability, low firing temperatures, high levels of conductivity, strong adhesion to a variety of substrates, and RoHS compliance. ElectroSperse grades can be tailored for a range of processing techniques, including screen, gravure, extrusion and ink jet printing. Targeted applications include electrodes, interconnects, and linearization patterns for displays, photovoltaic front side contacts, and hybrid microcircuits.

EcoSMART Technologies

Series C in 2006
EcoSMART Technologies, Inc. is a manufacturer of pesticide solutions and pet care products that utilize natural ingredients. Founded in 1992 and headquartered in Atlanta, Georgia, the company specializes in a wide array of pest control products, including insecticides for ants, roaches, bed bugs, fleas, ticks, and a variety of garden fungicides and herbicides. EcoSMART distinguishes itself by offering a complete line of EPA-exempt pesticides that are effective and safe, relying on patented technology and extensive scientific research. The company’s formulations harness the natural defenses of plants, using essential oils that target insect neuro-receptors to effectively repel and eliminate pests without harmful toxins or residues. In addition to pest control solutions, EcoSMART provides pet care products such as shampoos, conditioners, and flea and tick treatments. The company markets its products online and through retail channels, positioning itself as a leader in safe pesticide solutions. EcoSMART operates as a subsidiary of Kittrich Corporation.

TetraLogic Pharmaceuticals

Series B in 2006
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on the discovery and development of small molecule drugs that target programmed cell death pathways to address serious diseases. The company's lead products, known as Smac Mimetics, work by neutralizing key inhibitors in the apoptosis pathway, allowing for the selective destruction of cancer cells. Additionally, TetraLogic develops Necrostatin drugs, which inhibit critical processes leading to necrosis, thus promoting cell survival in various conditions where necrosis plays a significant role in disease progression. Through these innovative therapeutic approaches, TetraLogic aims to improve treatment outcomes in oncology and other medical fields.

GoTo

Series B in 2005
GoTo, formerly known as LogMeIn, is a provider of cloud communications and IT solutions, focusing on flexible work software. Its product suite includes GoTo Connect, GoTo Resolve, Rescue, and Central, catering primarily to small and midsize business IT departments while also being suitable for enterprise applications. GoTo's platform facilitates unified communications and collaboration as well as IT management and support, boasting nearly 800,000 customers and enabling over 1 billion participants in various online interactions. The company emphasizes secure, reliable, and AI-enabled solutions that are easy to implement and scale. Headquartered in Boston, Massachusetts, GoTo generates approximately $1 billion in annual revenue and employs around 2,800 individuals across multiple continents.

Unitask

Series A in 2005
Unitask, Inc. specializes in developing and selling software solutions that automate tasks related to the Oracle E-Business Suite (EBS). Founded in 1994 and headquartered in Bloomfield Hills, Michigan, with additional operations in Israel, the company offers several key products. These include Unitask Output Director, which automates printer setup and management, allowing users to handle Oracle EBS reports through printing, faxing, emailing, and archiving; Unitask Migration Director, which streamlines the migration of code and changes between Oracle EBS instances; and Unitask Command Center, a web-based interface for managing output and migration automation. Unitask's software is utilized across various sectors, such as oil and gas, manufacturing, healthcare, and government, serving clients globally in regions including North America, South America, Europe, Asia, Australia, and Africa.

TOA Technologies

Series B in 2005
TOA Technologies specializes in field service management software designed for businesses operating in various industries, including telecommunications, utilities, healthcare, and retail. Its flagship product, ETAdirect, is a cloud-based solution that utilizes a patented time-based predictive analytics platform. This technology analyzes individual employee work patterns to optimize service routes and schedules based on real-time data. By ensuring that field employees arrive at appointments on time and equipped with the necessary tools and information, TOA Technologies enhances the efficiency of mobile workforce operations. The result is improved customer satisfaction through reduced wait times and increased productivity for field service teams.

AxioMed

Series B in 2005
AxioMed LLC is a medical device company based in Malden, Massachusetts, specializing in the design and development of disc replacement devices aimed at alleviating neck pain and restoring normal spinal function for patients suffering from degenerative disc disease. Founded in 2001, the company was previously known as AxioMed Spine Corporation and rebranded in November 2014. AxioMed has developed the Freedom® Lumbar Disc and is also working on a project for cervical disc replacement. The company emphasizes advancing the standard of care beyond traditional fusion techniques and first-generation artificial discs. Guided by CEO Patrick McBrayer and COO James Kuras, AxioMed boasts a team with significant expertise in spinal implants, complemented by a Medical Advisory Panel of surgeons from leading spine centers and universities. The company's facilities encompass product development, testing, clinical and regulatory affairs, and manufacturing.

Imalux Corporation

Series B in 2005
Imalux Corporation, an Ohio medical device company, is positioned to become the worldwide leader in the commercializationPhoto of medical imaging equipment and devices based on its proprietary Optical Coherence Tomography (OCT) technology. The Company’s products provide real-time, high spatial resolution imaging at the point-of-care in a variety of medical applications. OCT is a new imaging modality for visualization of tissue microstructure, especially in anatomical areas with stratified tissue. It has the ability to detect near-surface tissue abnormalities indicative of disease, which established imaging modalities might not detect. Many diseases, including cancer, are associated with superficial tissue structure disruption. Today, there is no commercialized in vivo method to visualize this tissue structure alteration; clinicians must do a biopsy and an ex vivo histopathological review using a conventional microscope. Imalux OCT products can be used to visualize structural disruptions in vivo at the point of care.

TetraLogic Pharmaceuticals

Series A in 2004
TetraLogic Pharmaceuticals is a privately held biopharmaceutical company focused on the discovery and development of small molecule drugs that target programmed cell death pathways to address serious diseases. The company's lead products, known as Smac Mimetics, work by neutralizing key inhibitors in the apoptosis pathway, allowing for the selective destruction of cancer cells. Additionally, TetraLogic develops Necrostatin drugs, which inhibit critical processes leading to necrosis, thus promoting cell survival in various conditions where necrosis plays a significant role in disease progression. Through these innovative therapeutic approaches, TetraLogic aims to improve treatment outcomes in oncology and other medical fields.

Five Star Technologies

Series C in 2003
Five Star Technologies is a supplier of high-performance dispersions, inks and pastes used in displays, photovoltaics, and microelectronic packaging. Combining its patented hydrodynamic cavitation process with innovative chemistry, Five Star produces the ElectroSperseâ„¢ series of inks and pastes as well as a wide range of precision dispersions. The ElectroSperse line features a range of conductive pastes with exceptional printability, low firing temperatures, high levels of conductivity, strong adhesion to a variety of substrates, and RoHS compliance. ElectroSperse grades can be tailored for a range of processing techniques, including screen, gravure, extrusion and ink jet printing. Targeted applications include electrodes, interconnects, and linearization patterns for displays, photovoltaic front side contacts, and hybrid microcircuits.

Imalux Corporation

Series A in 2003
Imalux Corporation, an Ohio medical device company, is positioned to become the worldwide leader in the commercializationPhoto of medical imaging equipment and devices based on its proprietary Optical Coherence Tomography (OCT) technology. The Company’s products provide real-time, high spatial resolution imaging at the point-of-care in a variety of medical applications. OCT is a new imaging modality for visualization of tissue microstructure, especially in anatomical areas with stratified tissue. It has the ability to detect near-surface tissue abnormalities indicative of disease, which established imaging modalities might not detect. Many diseases, including cancer, are associated with superficial tissue structure disruption. Today, there is no commercialized in vivo method to visualize this tissue structure alteration; clinicians must do a biopsy and an ex vivo histopathological review using a conventional microscope. Imalux OCT products can be used to visualize structural disruptions in vivo at the point of care.

Netilla Networks

Series C in 2003
Netilla Networks specializes in providing secure remote access solutions for corporate networks through its innovative Service Platform. This platform is recognized as a leading SSL VPN appliance that facilitates secure remote and intranet access to various applications, including Windows, UNIX/Linux, and mainframe, using a standard web browser. By integrating thin-client technology with SSL encryption, along with a flexible authentication and policy framework, Netilla Networks offers rapid deployment, reduced network exposure, and lower maintenance costs compared to traditional VPNs. The company's solutions enhance ease of use while ensuring the security of applications, files, and data accessed over the Internet.

AxioMed

Series A in 2003
AxioMed LLC is a medical device company based in Malden, Massachusetts, specializing in the design and development of disc replacement devices aimed at alleviating neck pain and restoring normal spinal function for patients suffering from degenerative disc disease. Founded in 2001, the company was previously known as AxioMed Spine Corporation and rebranded in November 2014. AxioMed has developed the Freedom® Lumbar Disc and is also working on a project for cervical disc replacement. The company emphasizes advancing the standard of care beyond traditional fusion techniques and first-generation artificial discs. Guided by CEO Patrick McBrayer and COO James Kuras, AxioMed boasts a team with significant expertise in spinal implants, complemented by a Medical Advisory Panel of surgeons from leading spine centers and universities. The company's facilities encompass product development, testing, clinical and regulatory affairs, and manufacturing.

Netilla Networks

Series B in 2001
Netilla Networks specializes in providing secure remote access solutions for corporate networks through its innovative Service Platform. This platform is recognized as a leading SSL VPN appliance that facilitates secure remote and intranet access to various applications, including Windows, UNIX/Linux, and mainframe, using a standard web browser. By integrating thin-client technology with SSL encryption, along with a flexible authentication and policy framework, Netilla Networks offers rapid deployment, reduced network exposure, and lower maintenance costs compared to traditional VPNs. The company's solutions enhance ease of use while ensuring the security of applications, files, and data accessed over the Internet.
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