LineStream Technologies, a Cleveland developer of control software for automated products, secured series B financing by U.S. Venture Partners. USVP will team up with series A investor Early Stage Partners to move the company forward.

“The funding we just raised allows us to find more customers,” says Dave Neundorfer, LineStream president. "It is a huge boost for us. This funding will drastically accelerate growth for our company and meet customer demand.”

LineStream Technologies was formed in 2008 as a spinoff out of research done by Cleveland State University’s Zhiqiang Gao, director of the Center for Advanced Control Technology, and focuses on commercializing and simplifying control software.

LineStream products increase efficiency, are easy to implement and therefore improve the performance of automated systems in everything from washing machines to medical robotics. Last year LineStream licensed its software to Texas Instruments for use in a chip platform in motor and motion controls.

Neundorfer says the funding will not only help serve its growing customer base, it will also allow the company to attract the right talent. “With this funding we can build a team and hire technical talent,” he says. “We’re attracting technical talent who are self-starters, adaptable, work hard and are willing to align themselves around the common goal.”

Source: Dave Neundorfer
Writer: Karin Connelly