Indianapolis-based Quantifi raises $2.3 million to improve digital ad testing

Quantifi looks to be an impressive startup. The company provides AI-powered software to help marketers better test their digital advertising campaigns. It just raised $2.3 million in seed funding from local VCs and angels, and it disclosed a short list of customers. Quantifi also happens to be the latest example of Indianapolis’ shift from manufacturing auto parts and air conditioners to building startups.

“Fifteen years ago, you wouldn’t have thought about starting a tech company in Indianapolis or Central Indiana,” Quantifi CEO and cofounder R. J. Talyor told VentureBeat. But since then, a local ecosystem of investors, entrepreneurs, and talented labor has propelled the one-time manufacturing hub of 850,000 people into a top-ranked city for starting a business. “Indianapolis is now being recognized as a tech center with great talent,” Talyor said.

Read more of the story on Venture Beat.

Ilos Videos raises $1.5 million in first round of financing

Ilos Videos, launched three years ago by two University of St. Thomas accounting graduates, has raised $1.5 million in its first formal round of capital raising beyond family, friends and insiders.

The St. Paul-based company, with 10 full-time employees, allows organizations to communicate with customers and employees through software and support that enables customized training and other videos.

Ilos Videos has served 100-plus customers and will break $1 million in revenue this year, said Sean Higgins, a founder and head of business development.

Investors in the firm include Come Up Capital, Matchstick Ventures and Router Ventures. The funding arrived after Ilos was selected from among many applicants by the Techstars business accelerator program in Austin, Texas, earlier this year.

Read more via The Star Tribune