Idle Smart posts Series A round with KCRise Fund, multimillion-dollar investment support
October 24, 2018 | Austin Barnes
A multi-million dollar investment round has Kansas City-grown Idle Smart revving its engine and accelerating toward rapid growth in 2019, revealed Jeff Lynch, company president.
“I think it’s a reflection of what the team has been able to create over the past few years,” Lynch said of Idle Smart’s completion of a milestone Series A funding effort.
The round was led by Massachusetts Clean Energy Center, but also included significant support from the KCRise Fund and Service Provider Capital, he said. Stout Street Capital and Clean Energy Fund have also invested in the company, according to online Crunchbase reports.
Known for its patented, energy-saving technology that automates engine start-stops of fleet vehicles, Lynch said the cash infusion will greatly contribute to the internal growth of the company.
“Our business to date commands that we need to build, grow, and enhance our team in advance of what we think will be even better years in 2019, 2020, and 2021,” he said.
Idle Smart’s personnel upgrades will focus on technical expertise, U.S. and international sales forces, and internal account management functions, Lynch added.
“We think it’s a positive sign and a positive year mark in terms of our future opportunities and potential for success,” he said.
In addition to internal growth, Idle Smart is now in the process of relocating its offices from the Kansas City Startup Village to Plexpod Westport Commons, Lynch said.
Idle Smart was one of the first companies to inhabit the startup village –– a series of homes nestled within the 45th Street and State Line Road neighborhoods that first welcomed Google Fiber, which came to Kansas City in 2012.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
Procrastinating? Eat the frog, don’t chase the squirrels
On the metal wall in front of my desk, I’ve magnetically fastened a famous recommendation from Mark Twain. “Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day,” the humorist from Missouri wrote. Though it can become an aspiration rather than a rule,…
KCultivator Q&A: ‘Fashionpreneur’ Jordan Williams on starting with nothing but his smile
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. Check out our features on Plexpod founder Gerald Smith, innovation coach Diana Kander, Victor & Penny’s Erin McGrane, SEED Law’s Adrienne Haynes, Code Koalas’ Robert Manigold, Prep-KC CEO Susan Wally and community builder Donald Carter. Jordan…
KC designers put streetwear innovation, culture on Kritiq runway (Photos)
Fashion entrepreneurs at Sunday night’s Kritiq fashion show shared many of the same struggles on their ways to the runway, Mark Launiu said. “One of our designers here was asked, ‘What’s your inspiration?’ And I think a lot of us can relate,” said Launiu, co-founder at MADE Urban Apparel and lead organizer of the event.…
Tax bill guts historic tax credits used to rehab Westport Commons, Kemper, lofts
Plexpod Westport Commons wouldn’t exist without the historic tax credits used to make the massive renovation and preservation project financially feasible, said developer Butch Rigby. A GOP-led tax reform bill introduced this month to simplify the tax code, however, would eliminate the Reagan-era tax credit program, which provides a 20 percent federal tax credit for…