Startup closes $7M in venture capital
By Dan Miner
Buffalo Business First
CleanSlate was on a steady upward trajectory before the coronavirus hit. Now demand for its flagship product is skyrocketing.
That's what happens when you've spent years developing a tabletop machine that sanitizes electronic devices for infection control.
The startup – which splits operations between Buffalo and Toronto – announced Wednesday that it has raised a $7 million round of venture capital. The money will support heavy demand not just in health care but also food processing, biotechnology, hospitality and corporate offices.
CleanSlate came to Buffalo after winning a $500,000 award in the 43North competition in October 2015. Seven of its employees are now based at the Olmsted Center for Sight, where visually impaired workers support the company with testing and assembly.
CEO Taylor Mann said CleanSlate will continue working with Olmsted while scouting out new space in the next few months to accommodate its fast-growing staff.
Buffalo will continue to be CleanSlate's main operational hub, supporting in-field sales and service that goes into client facilities.
"Part of what this funding round does is allows us to deploy a much wider range of products over the next year," Mann said. "Buffalo will be our solutions group that goes into facilities and is able to provide a one-sized-fits-all approach to hygiene, whether that's a hospital, a retail environment or a factory."
Mann said that a few weeks into its fiscal year, the company has already hit its first- and second-quarter sales goals. He said CleanSlate was planning to grow sales by about 800 percent – a target that will be smashed by the current trajectory.
CleanSlate's funding round was led by Prolog Ventures, a venture capital firm focused on health and wellness startups, which contributed $6 million to the $7 million round.
CleanSlate is the second Buffalo-based startup this year to confirm a growth-oriented funding round this year. Circuit Clinical closed on $2.2 million in January.
This article originally appeared in Buffalo Business First.