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Compatio founder and CEO Tim Baynes participates in the Efactory's 2019 Demo Day event.
SBJ file
Compatio founder and CEO Tim Baynes participates in the Efactory's 2019 Demo Day event.

Springfield startups selected for Missouri Technology Corp. funding

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Two Springfield-based startups are recipients of funding through a recently announced investment round by the Missouri Technology Corp.

Software developers Compatio LLC and ConGenius were selected in the MTC's October investment cycle, according to a news release. Combined, 10 companies statewide were approved for equity-based investments from the MTC to the tune of $2.4 million.

Kinsey Batten, co-founder and chief growth officer of ConGenius, said via email that the company was chosen for $250,000 from the MTC. Jack Scatizzi, MTC executive director, said via email that the public-private partnership does not disclose individual totals for its investment program, and Compatio officials could not be reached for comment by deadline.

The investments come through MTC's Idea Fund, which issues funding to "Missouri-based high-growth potential startups," according to the release. The program has awarded more than $9 million in investments this year.

E-commerce software developer Compatio previously announced in early 2021 that it raised $1.5 million in a seed round led by Kurt Hellweg, former CEO of American Dehydrated Foods, with a $250,000 investment from the MTC and participation from existing and new investors, according to past reporting. Compatio in 2019 announced it had raised $1.25 million at the Efactory's Demo Day event, the culmination of a three-month accelerator program.

Earlier this year, construction industry software firm ConGenius announced it was moving its headquarters to 3171 E. Sunshine St. from 830 E. Primrose St., Ste. 101, Springfield Business Journal previously reported.

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