MentorTech Ventures joins MissionOG in CloudMine round

Tom Paine

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UPenn-connected MentorTech Ventures has joined MissionOG in a new investment round in Philly-based startup CloudMine, MentorTech Managing Director Brett Topoche said via a tweet yesterday and confirmed to Philly Tech News via email. The Form D filing related to the offering dated in March said it was for up to $750,000, and that $505,000 had been raised at that time. I can't confirm the total amount raised to date, or whether there were any other investors in this round. The financing was in the form of convertible debt. MissionOG's investment had already been made public. Topoche says he will join CloudMine's board as an advisor.

CloudMine was in DreamIt Venture's 2011 Philadelphia class and raised an additional $480,000 in 2012 from investors that included Ben Franklin Technology Partners SEP and RobinHood Ventures. MentorTech's investments always have some Penn connection, and CloudMine CEO Brendan McCorkle received his Master of Science in Engineering in Computer and Information Science (a program sponsored by the school of engineering and Wharton) from there.

CloudMine competes in a hot, emerging market: backend-as-a-service (BaaS). It provides a cloud-based platorm that helps enterprises build mobile & web-based backend solutions and connect data sources such as Salesforce.com and SharePoint.




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