Innovation Capital Advisors, a US-based venture capital firm with strategic ties to specialty materials company Rohm and Haas, has led the series A round for Careerminds Group, a web-based outplacement and career transition services company.
Formed last year, Careerminds made the first closing of its series A round at $800,000 and a filing with the US regulator last month said it was looking to raise $960,000 in total.
David Freschman, managing principal at Innovation and one of the related parties in last month’s Securities and Exchange Commission filing, said: "We are impressed by its ability to become revenue positive and profitable at this early stage in its growth."
Rohm and Haas is a subsidiary of Dow Chemical and its vice president of corporate development and strategy, Thomas Macphee, is on Innovation’s advisory board to help as strategic partner in technology evaluation, global market analysis, deal sourcing and exit strategies.