Accelerators / Events / Startups

Nfoshare, Cnverg pitch to investors at DreamIt Demo Day

Two companies with Delaware roots took part in the DreamIt Philly accelerator program this fall. Here are recaps of their pitches yesterday.

After more than three months of hard work — from launching beta apps and growing a client base, to switching gears and learning through trial and error — 12 teams presented their work during DreamIt Ventures’ Philly Demo Day yesterday.
The 12 teams — including two with Delaware roots — took turns presenting to hundreds of technologists, investors and venture capitalists.
Here’s how the home team fared:

1. Nfoshare

Nikhil Paul, a University of Delaware graduate, kicked off the presentations with an update from his company, Nfoshare, which specializes in social and emotional data.

Originally created to gauge the day-to-day emotions of professors and students on college campus, the platform and app (coming soon) are targeted at individuals in the fields of IT, hospitality and retail, Paul said during his presentation. The constant responses from the platform and app can help individuals in the workplace better understand each other.
Nfoshare launched its beta in October and eight companies have already used the platform. Paul said about 30 percent of the workforce would be likely to respond to a clunky survey asking questions about their job.
“We we’re able to hit the 64 percent mark in six weeks. That’s what we call a game changer,” Paul said. “If a company wants to be successful, if a company wants to be great, you have to engage with employees. We need to start killing the surveys. Let’s make it fun, let’s make it engaging, dare I say, let’s make it inspiring.”

Nfoshare, which is currently based in New York City, plans to raise $500,000 in its next round of funding. Paul said his organization plans to stay in New York for now, but would consider other locations if investors were willing to provide funding.

2. Cnverg

Richard Prieto led the discussion on Cnverg (formerly known as MUNI-Tech), which creates hardware and software to connect people all over the world, visually, its founders say. After the presentation, Prieto and partner John Kirk demonstrated a large touchscreen, which allowed users the chance to move digital sticky notes on a business plan and add content to the document.

During the presentation, Prieto said he and Kirk reached out to 100 large organizations, especially in the engineering and construction fields, to see if they’d be interested in the hardware and technology. The answer was yes: 46 told the pair that Cnverg was the exact solution their company was looking for; 25 companies said they were interested in working together; a few, Prieto reported, even turned into paying customers.
“Our goal is to become the leading collaborative management platform in the world,” Prieto said. “We want companies to connect people and their processes.”

Cnverg is planning to raise $1.5 million in its next round of funding. Kirk said, for now, he and Prieto are continuing to split their time working in Philadelphia and at The Loft in Wilmington.

Companies: Cnverg (formerly MUNI-Tech) / DreamIt Ventures / Nfoshare

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