Newark Venture Partners, a venture capital fund whose mission is to build technology companies, has pledged investment to six technology companies: ClassTag, Designity, LendingFront, MoCaFi, PeopleJoy and Vetty.
“Our Labs program is designed to target startups that look at old problems with fresh eyes in the B2B space,” Tom Wisniewski, managing partner at Newark Venture Partners, said in a statement. “If we can help them succeed, we can revolutionize the way businesses operate - both for Newark, and beyond the city’s borders.”
Newark Venture Partners was founded by Don Katz, Audible founder and CEO, to recast Newark as a pioneering innovation zone and ultra-bandwidth tech center.
Selection included an initial $100,000 investment and access to Newark Venture Partners’ office space at 1 Washington Park, plus one-on-one coaching from an expert group of sales, marketing and strategy professionals.
ClassTag provides teachers with an intuitive platform for automating communication with parents, who can track their child’s classroom progress, all the while earning credits that can be redeemed for valuable classroom supplies.
Designity is a virtual design agency.
LendingFront is a technology platform that helps financial institutions enable small business lending operations.
MoCaFi is a start-up financial technology company that leverages mobile technologies, data analytics and digital strategies as it reimagines community banking.
PeopleJoy provides employee engagement, talent attraction and retention solutions for employers.
Vetty is a next-generation background verification platform.