Cloverleaf Secures Investment from Queen City Angels
Company emerges from OCEAN Accelerator with software to help guide more people towards thriving team experiences Cloverleaf today announced that it has secured an investment from Queen City Angels to help the company add staff, expand its geographic reach, and enhance customer usability of its software. The company, which uses data analysis to help companies build high-performing teams, recently added three full-time employees and has plans to add three more people this year and scale up to 30 team members within the next two years. Cloverleaf is a homegrown startup and founders have used many local resources to get the business off the ground. The company is based in Kroger Co. 84.51’s startup-in-residence area in downtown Cincinnati and emerged from OCEAN Accelerator’s 2017 class; an experience the company said was pivotal to the young business.
“The early support and capital from OCEAN made it possible for two of us to dive in full-time and bring in additional resources to grow, while Cincinnati’s start-up community has offered tremendous support and connections along the way,” said Kirsten Moorefield, co-founder of Cloverleaf. “Queen City Angels stepped up to be our lead investor, and its reputation and track record instilled a lot of confidence in follow-on investors deciding to also join the round. Beyond the investment, individual QCA members have spent many hours helping us with messaging and strategy. They are generous in opening doors and offering support to help us keep the business moving forward.” Moorefield added, “Organizations such as PowderKeg Cincinnati and Cintrifuse have also offered opportunities for powerful networking, as well as speaking and press events to spread the word. In short, QCA and the local start-up community have been essential to our success. And Cincinnati truly feels like a community; individuals committed to helping all boats rise, and have a good time in the process.”Cloverleaf’s team-building software was inspired by the co-founders’ own working experience, which they now use to target markets where teams are most critical to the success of businesses such as software development, sales, consulting, and human resources. Among its software uses is the ability to apply data analytics to commonly used personality and strength-based assessments to help companies identify career development and promotion opportunities, and create teams that will work well together. Co-founder Darrin Murriner said, “Our co-founders met years ago working together as an awesome team. We enjoyed coming to work and enjoyed the people we worked with, which lead to incredible results. We recognized that not everyone has that experience so we created a company and technology that can help replicate our experience. At our core, we believe everyone is wired to accomplish excellent, meaningful work, and our best work happens when we’re on a team that plays to our strengths and differences. QCA recognized our potential and is now helping us achieve our vision.” “Cloverleaf has a great recipe for success, beginning with a strong team that has the experience and expertise to make this company grow and a technology that fills a void in the market,” said Sue Baggott, QCA member, and Cloverleaf board member. “The company is off and running with its sights set on reaching 100 customers by the end of the year. This is the type of company that really excites QCA and our members. We have Cincinnati entrepreneurs that are taking full advantage of everything that the local and regional ecosystem has to offer. This is a great example of how a local community can work together to build something great.” About Queen City Angels The Queen City Angels (QCA) is comprised of 63 experienced accredited investors who provide funding, support, and guidance to early-stage growth companies in the Cincinnati area and surrounding region. QCA members, which include successful entrepreneurs, former corporate executives, and life science experts, draw from their personal operating and management experience to evaluate opportunities and provide on-going mentoring to young businesses with exceptional growth potential. Since 2000, QCA members have directly invested more than $60 million in approximately 95 portfolio companies. The total capital invested in these companies, including QCA members’ capital, syndication partners’ capital, follow-on venture capital funds and venture debt of approximately $510,000,000. CB Insights ranked QCA second out of 370 national angel organizations. For additional information, visit www.qca.com About Cloverleaf Despite the multitude of tools for tasks, timelines, and budgets, 38% of projects do not meet objectives, 47% go over budget, and 51% go over timeline. Cloverleaf is a SaaS platform that solves the root issue: how teams work together. Using data companies already have about their people, Cloverleaf empowers every person in the organization to increase relational and communication effectiveness, ultimately improving productivity and engagement. With additional integrations, Cloverleaf’s value extends beyond the platform into tools companies use daily to manage talent and work, such as email, HRIS, and task/performance management tools.