MyHealthMath raises $3.5M, LaunchPad & Top Gun name finalists, and more...
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⛅️ Good afternoon. Welcome to the 257th edition of Maine Startups Insider. You are one of 2,367 subscribers from around the country receiving this email.
What's covered in this week's edition:
MyHealthMath raises $3.5M to demystify health insurance
LaunchPad and Top Gun both name finalists for pitch contests
Before we get to the news, I want to thank Maine Startups Insider's newest Sustaining Member: Chris Vickers, CEO of STARC Systems.
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Keep creating, keep innovating, keep curious.
-Whit Richardson
/ News
MyHealthMath raises $3.5M to demystify the health insurance process for consumers
MyHealthMath, a Portland-based company with the mission to simplify the process of purchasing health insurance, has raised $3.5 million to help fund its product roadmap.
The company partners with health insurers to make its software product available to the end users, employees of businesses that provide health insurance benefits. The product helps employees navigate the process of choosing a health insurance plan and make more informed decisions about which plan works best for them and their family. Maine Startups Insider selected MyHealthMath as a 2019 Maine Startup to Watch.
Jennus Innovation, a company that’s part incubator, part advisory firm, led the round, raising the majority of $3.5 million from its network of investors.
Read more at Maine Startups Insider >>
MSI is sponsored by Eaton Peabody
LaunchPad names finalists to compete for $50K prize
Gorham Savings Bank has announced the finalists for its ninth annual LaunchPad small business pitch competition.
The five founders will compete for a $50,000 non-dilutive grant on June 7 at the final LaunchPad pitch event, being held at the University of New England’s Portland campus.
The five finalists are:
Bookclubs, a Camden-based company that's developed software to make organizing a book club simple with tools to build community, choose books, schedule meetings, and discover what to read next.
TrueFin, a Portland-based "net-to-table" provider of high-quality seafood from the Gulf of Maine to professional chefs and home chefs nationally.
Maine Food Group, a Brunswick-based specialty food manufacturer that focuses on shelf-stable and frozen food.
Erin Flett/Studio e Flett, a Gorham-based textile designer and lifestyle brand with big ambitions. (Flett was also a finalist in last year's LaunchPad competition.)
Tanbark Molded Fiber Products, a North Yarmouth-based company that's developed sustainable, compostable packaging.
The bank announced five additional finalists for the Emerging Business Award, which comes with a $10,000 grant, plus $10,000 worth of in-kind business and marketing services from sponsors.
Read more at Maine Startups Insider >>
Top Gun names five finalists for statewide pitch competition
The Maine Center for Entrepreneurs has announced the five finalists for its 2022 Top Gun program.
The finalists will compete May 26 at USM’s Hannaford Hall for the chance to win a $25,000 grant provided by the Maine Technology Institute.
The five 2022 finalists coming out of the regionals are:
Bijou Build (Waterville) — A system of collapsible outdoor play structures with interchangeable panels.
Finsulate (Portland) — FINSULATE is an eco-friendly bio mimicry based anti-fouling solution for boats and other watercraft.
Rugged Seas (Portland) — Maine-made recycled fisherman’s gear turned into products and wearables with a percentage of profits going back to the Maine Coast Fishermen's Association and the Maine Lobstermen's Association.
Seaweed Evolution (Bangor) — Reduce methane gas in livestock by utilizing Maine's red seaweed.
Teach 2 Move (Lewiston Auburn) — Assisting with schools, coaches, and administrators to create a better understanding of the social emotional needs of athletes.
Read more at Maine Startups Insider >>
MSI is sponsored by Gorham Savings Bank
/ Roster Report
Standard Magic has hired games industry veteran Christopher Demers as a Senior 3D Artist. Chris is a 28-year veteran of the computer game and VR/AR industries, including stints at companies like Magic Leap, Kabam Games, Electronic Arts, and Westwood Studios. He will help Standard Magic's 3D virtual world Web3 efforts.
/ Briefly Mentioned
🎼 MedRhythms has partnered with drug maker Biogen on the development of a therapy that combines sensors, software, and music to improve walking problems in multiple sclerosis patients. MedCity News covered the announcement.
🏆 SCORE Maine ranked #2 for Client Engagement in 2021 among SCORE chapters nationally. In 2021, SCORE Maine, which is made up of three chapters (which cover northern, central and southern Maine) provided business-mentoring services to more than 4,300 entrepreneurs and small business owners. It also delivered 108 webinars to 2,300+ virtual attendees. According to the organization's annual report, those mentoring services helped helped entrepreneurs start 224 new businesses and create 1,297 non-owner new jobs. Read the annual report.
💰 The Bill and Joan Alfond Foundation in Portland has provided an undisclosed amount of grant funding to Dirigo Labs, the new startup accelerator in Waterville, according to a news release. Maine Startups Insider reached out to Central Maine Growth Council to determine the size of the gift, but was told the foundation did not want to disclose a number. Despite the lack of a dollar figure, Mainebiz covered the news.
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/ ICYMI
Here are some recent articles from Maine Startups Insider you may have missed:
Friday, the startup building software for remote teams, shuts down
REDD, a VC-backed Maine energy bar company, acquired by Connecticut firm
Maine Venture Fund to invest up to $750K in startups at the Roux Institute Techstars Accelerator
UMaine's Foster Center for Innovation announces winners of inaugural Innovation Awards
Commentary: A roadmap for a more inclusive entrepreneurial ecosystem
/ Classifieds
✅ Have an idea for an e-commerce business but don't know where to begin? Launching an innovative product but don't know how to market it? Need assistance with Amazon FBA? Brickyard Collective, a DTC product lab and growth marketing firm in Portland, is actively looking to partner with entrepreneurs to launch and grow their businesses. Get in touch for a free consultation.
Have a product or service and want to reach Maine's startup community? Purchase one or more classified ads for $25 each.
/ Jobs
If you apply for a job you see here, let them know you saw the opportunity in Maine Startups Insider.
+ The Roux Institute Techstars Accelerator is hiring a Design Associate and a Senior Program and Operations Associate.
+ HighByte, an industrial software startup, is hiring an Account Executive.
+ The University of Maine is hiring a Technology Business Development Administrator.
+ Pumpspotting, a femtech startup in Kittery, is hiring a product manager.
+ ElleVet Sciences, which sells CBD products for pets, is hiring for several roles.
+ EnergyCircle, a digital marketing and lead-gen agency in Portland, is seeking a Digital Marketing Account Manager.
+ CourseStorm, an Orono-based EdTech startup, is hiring a Software Engineer and a Software Engineering Manager, among other positions.
+ MedRhythms is hiring for several positions, including a VP of Engineering and a Senior Full Stack Engineer.
+ Defendify, a cybersecurity startup in Portland, is hiring a SaaS Software Engineer.
+ Theory and Principle, a legal-tech product design and development startup in Portland, is hiring a Client Executive.
+ VETRO Inc., a SaaS company in Portland, is looking for a Senior Software Engineer, a Director of Platform Engineering, and a Senior Accountant, among other roles.
+ Guideline, the fintech company with offices in California, Texas, and Portland, is hiring for several software engineering positions.
+ AskGMS, a Portland-based company that provides benchmarking and data analysis tools to the insurance industry, is hiring a full-stack developer.
+ Arkatechture, a Portland-based company that provides business intelligence and data analytics services, is hiring for a host of positions.
Seeking a full-stack engineer? A technical co-founder? A sales or biz dev superstar? Send me your job postings to make this a great resource!
/ Calendar
Top Gun Showcase Event
Thurs., May 26, 5-8 p.m. — USM's Hannaford Hall in Portland
The Maine Center for Entrepreneurs hosts its Top Gun Showcase Event where five Maine-based entrepreneurs will present their companies to a panel of experts and compete for a $25,000 cash prize sponsored by
the Maine Technology Institute. For more info and to register.
Maine Blockchain Meetup
Wed., June 1, 4:30-7 p.m. — Location TBD
Maine Startups Insider is creating a monthly meetup for folks interested in all things blockchain-related, whether crypto, NFTs, web3, P2E gaming, etc. Details are still being worked out, but feel free to respond to this email to let me know if you want to be on the list.
Symposium on Risks and Opportunities of AI in Clinical Drug Development
Mon., June 6, 8:30 a.m.-5 p.m. — Ocean Gateway in Portland
The Roux Institute at Northeastern University is hosting a symposium that will convene scientists, regulators and other professionals to address the challenges and opportunities of AI in pharmaceutical medicine; to foster collaboration among industry, academia, regulatory agencies, and professional associations; and to propose recommendations with policy implications for proper implementation of AI in promoting public health. More info or to register.
GSB's LaunchPad 2022
Tues., June 7, 3:30-6 p.m. — UNE’s Innovation Hall in Portland
Gorham Savings Bank hosts its ninth annual LaunchPad pitch competition. Five finalists (announced here) will pitch before a live audience and panel of judges for the chance at a $50,000 grant. More info and to RSVP.
Please send me your event or calendar item for possible inclusion.