NM Economic Development Secretary Geisel Announces NMA Ventures Investment
October 31, 2018
FOR IMMEDIATE RELEASE
Contact: Jessica Mraz
(505) 365-3998 JessicaL.Mraz@state.nm.us
NMA Ventures Makes First Investment in a New Mexico Company
Santa Fe, N.M. - Today, the Economic Development Department announced that Catalyst Fund recipient NMA Ventures has made its first seed investment. The fund has invested $300,000 in Santa Fe-based company Fusion Funnel, LLC. The company is a software-as-a-service company that offers an automated solution for gathering sales intelligence.
"We are proud to partner with NMA Ventures to continue supporting New Mexico's culture of innovation," said Economic Development Cabinet Secretary Matt Geisel. "The Catalyst Fund helps our local companies get off the ground and succeed, creating new jobs and opportunities for New Mexicans."
NMA Ventures funds early-stage, high-technology companies based in New Mexico. NMA Ventures was created in 2017 by three New Mexico angel investors: John Chavez, Dorian Rader, and Sherman McCorkle. "We are excited to announce our investment in Fusion Funnel," said Managing Partner of NMA Ventures Dorian Rader. "Since our Fund's inception, we have worked diligently to find the most innovative, growth companies with a robust team in New Mexico. We are confident that our capital can move the needle in accelerating growth in the market."
In May, NMA Ventures received a $1.6 million commitment from the Catalyst Fund. The Catalyst Fund invests in emerging venture capital funds throughout the state. These venture capital funds invest in seed and early-stage technology companies. Sun Mountain Capital is the manager of the Catalyst Fund. Fusion Funnel is the fourth company receiving an investment via funds who received a commitment from the Catalyst Fund - BayoTech, Inc., Armonica Technologies, and AdWallet previously received investments.
"The investment from NMA Ventures provides Fusion Funnel the opportunity to reach its potential to be an influential player within the sales & marketing technology space," said Fusion Funnel CEO Brad Morrison. "We're excited to be part of the emerging New Mexico business landscape. As New Mexico continues to invest in its business infrastructure and offer incentives, there's a lot of ways for us to maximize this opportunity, all while enjoying the amazing lifestyle we came here for in the first place."
The Catalyst Fund capitalizes on New Mexico's history of successful research and development. New Mexico is well leveraged to develop and commercialize innovative technologies from its research universities and three federal laboratories. The Catalyst Fund has made commitments to six funds: ABQid, Arrowhead Innovation Fund, BlueStone Venture Partners, Cottonwood Technology Fund, NMA Ventures and Tramway Venture Partners.
These funds are bringing new seed and venture funding to the market. Under the leadership of Governor Martinez, New Mexico has bolstered economic development tools, cut taxes and fees 61 times, and rolled back unnecessary regulations and red tape to create a business-friendly environment in New Mexico. Governor Martinez established the Catalyst Fund, Innovation Vouchers, the SBIR Matching Grant, and the Credit Enhancement Program to help homegrown New Mexico technology startups grow and thrive. As a result of these tools, reforms, and investments, New Mexico continues to recruit global and national companies like Facebook, Keter Plastic, Safelite and others, while helping homegrown businesses like Descartes Labs, UbiQD, RS21, and others grow and thrive as well.
About Fusion Funnel Santa Fe-based Fusion Funnel LLC is a software-as-a-service (SaaS) company that offers an automated solution for gathering sales intelligence. Their product increases sales conversion rates and enables best-practice-driven sales discovery with a single keystroke from their marketing automation, customer relationship management or sales engagement platform. Led by CEO, Brad Morrison, Fusion Funnel is gaining traction in the market with early adopters. Fusion Funnel is enabling sales teams to have more meaningful conversations in a competitive and increasingly sophisticated industry. Learn more: https://fusionfunnel.com.
New Mexico Economic Development Department