AUSTIN, Texas, March 25 /PRNewswire/ -- UpSpring Baby(TM) executives, Lisa Williamson and Julie Jumonville, today announced that they have successfully entered into definitive agreements with new and existing investors to raise gross proceeds of $4M in equity through Series C financing for the innovative parent and baby products company based in Austin, Texas.
The funding secured will be used for new product development and sales support as the company expands its domestic and international sales. UpSpring Baby's Milkscreen(TM) home test for alcohol in breast milk was recently picked up by Target and Walgreens. Walgreens is the nation's largest drugstore chain and the first brick and mortar drugstore to carry the Milkscreen home test.
The $4M in new financing was raised through lead investor Small Ventures as well as repeat private investors and from members of the Central Texas Angel Network.
"We are seeing an increase in consumers wanting to better manage their own health care and UpSpring Baby is responding to that growing market by developing new platform technologies that help to improve the health and wellness of children and mothers," said Lisa Williamson, Founder and CEO of UpSpring Baby. "To have secured this funding is testament to the strength of our innovative product pipeline and the opportunity that our investors see in this emerging market."
"Small Ventures is thrilled to participate in this opportunity with UpSpring Baby. We feel UpSpring Baby is uniquely positioned to develop, and bring to market tools that empower parents to monitor the health and safety of their children," said Bill Perkins, CEO of Small Ventures. "UpSpring Baby has impressed us with their creativity in developing products, and they have cultivated strong strategic relationships in order to introduce those products to the world. We look forward to working with UpSpring Baby as they continue to innovate for the benefit of parents and their children."
UpSpring Baby(TM) develops innovative products that promote health, wellness and safety for infants, toddlers and parents. Founded in 2005 by female entrepreneurs, UpSpring Baby is creating a new genre of peace of mind products that offer convenient solutions to everyday life for parents and help improve overall health for children. UpSpring Baby's current product offerings include Milkscreen(TM) and Walking Wings(TM). For more information please visit www.upspringbaby.com.
|SOURCE UpSpring Baby|
Copyright©2009 PR Newswire.
All rights reserved