BFTP announced the additional investment in CRO Analytics based on its positive pilot program results, extended business with pilot program customers, and overall opportunity growth.
"We are honored that BFTP has shown their continued confidence in CRO Analytics' Performer through additional funding," said Peter Malamis, CEO of CRO Analytics.
Such initiatives include Innovation Works, one of the four Ben Franklin Technology Partners (BFTPs) funded by the Ben Franklin Technology Development Authority (BFTDA).
In 2016, all four BFTPs reported the combined creation of 1,383 jobs and the retention of 7,919 jobs.
centers provide investment capital, operational assistance, and entrepreneurial support to emerging technology-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania.
The funds raised will be directed to the highly successful Ben Franklin Technology Partners (BFTP
), three Life Sciences Greenhouses and the Venture Capital investment program.