Upstate Deals and Doings – August 2019

Upstate Deals and Doings
August 2019

Deals, news and events for the investment community across Upstate New York.

In case you missed it:
The 12th Annual SaratogaForum brought together over 100 leaders from regional and national venture and private equity communities to learn, share, network and connect. Check out the event recap and photos!

Here are some highlights from the most recent deals done in Upstate New York

CloudCheckr, a Rochester-based provider of a cloud management platform designed to facilitate cost management, security, reporting and analytics for optimizing AWS and Azure deployments, raised $15 million of venture funding in a deal led by Level Equity.

Vaccinex, a Rochester-based clinical-stage biotechnology company, received $13.8 million of development capital from FCMI Financial and other investors

Ursa Space Systems, an Ithaca-based provider of geospatial data and analytics intended for global oil supply, raised $2.83 million of venture funding

WexEnergy, a Rochester-based developer of a transparent window insulation system intended to make single-pane windows work like more efficient double-pane windows, raised $430,000 of angel funding

FilmUp, a Scarsdale-based provider of a subscription based platform intended to simplify the search for fellow filmmakers in the industry, raised $120,000 of angel funding

Mahopac Septic, a Mahopac-based provider of environmental waste management services, was acquired by INVESTOR, via its financial sponsor Gryphon Investors

Resonado, a Yorktown-based provider of outsourced IT services to small and medium-sized businesses partnering with its clients to provide tailored strategic consulting and managed service, was acquired by Logically, via its financial sponsor The Riverside Company

The Mechanic Group, a Pearl River-based provider of insurance solutions and risk management services, was acquired by Specialty Program Group

Have a deal you’d like to share? Submit it here!


  • Buffalo-based former 43North Winner, SomaDetect, closes on $2M in funding. The company’s founder, Bethany Deshpande, spoke at last year’s Future of Food Conference hosted by Upstate Capital. This year’sconference is scheduled for September 26, 2019 in Williamson, NY.

  • Nominations are open for 2019 Community Catalyst Award winner to be announced at the Upstate Unleashed Conference. The winner will take the stage to shine a spotlight on their community’s accomplishments. Previous winners are Christine Whitman (Rochester), Richard Glaser (Rochester), Frank DuRoss (Utica), and David Colligan (Buffalo).

  • An incentive package including a $1.5 million Empire State Development grant will see 43North shift its offices from the Buffalo Niagara Medical Campus to the 24th floor of Seneca One Tower. According to Dan Miner of the Buffalo Business Journal, the move to Seneca One will place the heart of Buffalo’s startup economy next to the regional engine of institutional tech talent, M&T Bank’s forthcoming hub


  • September 12 – Saranac Lake – North County Innovation & International Connections – Upstate Capital to host investors, entrepreneurs and advisors to beautiful Saranac Lake for an event to highlight the Upstate innovations. Hear about the North Country’s transportation industry from a conversation on leading, global suppliers with manufacturing in the region. Registration is op

  • September 26 – Williamson – The Future of Food – Upstate Capital is hosting its second annual event to highlight food and agtech innovation in Upstate New York. This event will bring together members of the business and entrepreneurial communities to meet food and agtech investors and startups. Register today!

  • December 4Rochester – Annual Awards Celebration – Upstate Capital’s 4th Annual Celebration & Awards event will celebrate the investment ecosystem across New York. This  marquee event highlights the most interesting deals and most active dealmakers across New York State in seed, venture, private equity and corporate finance. Save the date!


  • September 20 – Verona – 2019 Upstate Unleashed ConferenceJoin UVC, partners and over 400 entrepreneurial leaders. Meet the top CEOs of Upstate NY’s fastest growing companies, and celebrate startup ecosystem builders across our region.

  • October 7-8 – Rochester – New York State Innovation Summit – FuzeHub is hosting this summit in collaboration with Empire State Development’s Division of Science, Technology & Innovation (NYSTAR). Learn about the technologies that are defining a new generation of products and manufacturing capabilities, showcase your own successes leveraging advanced technologies, and discover how New York State’s innovation ecosystem can accelerate your company’s growth.