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Print Edition StoriesWednesday, May 7, 2008
InnoCentive intakes $6.5M in second round of funding
By Mass High Tech
Online research collaboration company InnoCentive Inc. has raised $6.5 million of a planned $7.5 million Series B round of financing, according to federal filing.
Waltham-based InnoCentive has attracted 75 investors, including New York-based Spencer Trask & Co., the California-based Omidyar Network, and Indiana-based Eli Lilly & Co., according to the U.S. Securities and Exchange Commission filing.
InnoCentive, which was founded in 2005, operates a website where researchers can collaborate on scientific challenges. In 2006, the company completed a $9 million Series A round of funding.
That same year, the company reported a total of 110,000 registered users of its website and appointed Dwayne Spradlin, former president of Hoovers Inc., a Dun & Bradstreet company, to lead InnoCentive.
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