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H2bid set to raise $1.5M seed capital round

H2bid is working toward raising a round of seed capital worth $1.5 million that will help the 8-year-old startup grow its service offerings and hire more staff.

The Midtown-based startup's software helps water utilities bid out projects over the Internet, enabling them to strike the best deal in the most cost-effective manner. Over the last year it has turned into more of a data-and-analytics firm.

"We're helping water vendors and contractors make smarter decisions in the bidding process," says Glenn Oliver, president & CEO of H2bid.

H2bid employs about 15 people. It is looking to add people in three areas: a senior-level marketing professional with digital marketing experience, a data analytics research manager, and people with B2B telephone sales experience. H2bid plans to leverage its team to finish developing a data analytics offering, which it plans to market as software as a service. It is also offering a lead-generation service for its customers.

Oliver hopes to finish developing these services by the second quarter of this year. He is currently raising $1.5 million in seed capital to finish the development of those services and add more people to his team.

Source: Glenn Oliver, president & CEO of H2bid
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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