Coolfire Solutions Raises $11.5 Million in Oversubscribed Series B
St. Louis-based software company Coolfire Solutions—creators of the Ronin Platform, a situational awareness delivery platform—gained $11.5 million in an oversubscribed Series B financing round. An undisclosed strategic investor led the round, along with a significant follow-on investment from Clayton Venture Partners, the venture capital arm of Enterprise Holdings Inc. Additional funding came from new and existing investors, including the IrishAngels investing group.
According to the company, the Series B funding builds on a year of achievement for Coolfire, which saw a growing list of customers, platform upgrades, and expansion of its partner program. The company’s Ronin Platform was selected, in partnership with the US Department of Homeland Security, for the Smart City IoT Innovation (SCITI) Lab program.
The company plans to use the funds to aggressively accelerate sales, marketing, and product development for commercial industries.