Decision Pace, a business intelligence Web service startup located in the Z80 Labs in Buffalo, has raised $1 million from investors.
Richmond Capital Partners, Z80 Labs and some angel investors helped fund the startup company, which will use the money to further develop “data visualization” products, services and technologies. Its aim is to transform raw data into real-time visuals that can quickly be posted to websites, devices or email.
Jay Moeller and Alan Lash founded Decision Pace, which offers its data visualizations and developmental technologies to many industries, such as legal, accounting, health insurance, manufacturing and Internet software.
“This app allows you to be able to take data and create visuals and distribute it from various systems for your business,” said Dan Magnuszewski, managing director of Z80 Labs.
Z80 Labs, a technology incubator that launched in the summer of 2012, wants to transform Buffalo and Western New York into “a technology hotbed.” The lab helps kick-start tech-driven businesses and provides them guidance, as well as office space.
Decision Pace’s application, which can be used on computers and smartphones, pools data into visuals, like graphs and pie charts. According to Moeller, it cuts costs for businesses, which would otherwise have to hire programmers for a few months to create what he says his app can generate in one hour.
“It’s one stop and it’s fast,” and will change how paperless content is produced to manage a business, he added.
Moeller, who is originally from San Francisco, said the company is “extremely excited to have all Buffalo investors.” Moeller is currently seeking out office spaces in Downtown Buffalo and has already hired six people for his company. He plans to have 50 employees in three years.
The investment “represents a huge step toward building a successful, technology-focused ecosystem in Buffalo,” said Jordan Levy, co-founder of Z80 Labs and partner at Softbank Capital and Synacor chairman, in a release.
Z80 Labs lends its support to four other active companies outside of Decision Pace – CoachMePlus, GradFly, CrowdBouncer and Sale Diem – and is the process of bringing in four fresh startups.
CoachMePlus, which connects athletes and coaches by organizing data, is actively raising $500,000, according to the company’s CEO, Kevin Dawidowicz. Currently, the Buffalo Sabres, the Columbus Blue Jackets, the Edmonton Oilers and the Philadelphia Eagles are using Dawidowicz’s digital application. Multiple colleges and other professional teams are running trials of the app that provide “a global, complete view of an athlete.”
It centralizes tracked data, like an athlete’s heart rate or how much he or she is sleeping, and allows coaches or general managers to create and share workouts or keep tabs on athletes.
GradFly aims to help students in the science, technology, engineering and math fields by providing a platform to create an online portfolio. In late April, Gradfly competed with other startups through TechCrunch, a news outlet that focuses on startups, which was hosting a “Startup Battlefield.” GradFly was chosen from hundreds of applicants to compete with 29 other startups for a $50,000 prize.
CrowdBouncer helps “equity crowdfunding” websites, called portals, cope with upcoming federal regulations. CrowdBouncer provides automated solutions to ensure investors don’t exceed their investment limit, as set by law. The watchdog-like platform is a response to the Jumpstart Our Business Startups Act of 2012, which eased security for online fundraising and still has pending pieces.
Sale Diem provides shoppers with access to boutique items and daily private sales and was founded by Buffalo native Jeff Milkowski. Magnuszewski said the company is starting to gain momentum.
Z80 Labs is in the process of bringing on Logical Mobility Labs, which develops mobile applications. Magnuszewski said the company is still figuring out its focus and what they want to do, but he said that’s what Z80 Labs is for: to provide help and guidance for budding entrepreneurs.