Software company used by economic development supporters receives investment

Posted on January 18, 2011

Automation Alley, the Troy-based technology association, has committed to invest $250,000 in Ann Arbor-based InfoReady Corp., completing the startup’s seed funding of $1.1 million.

InfoReady, a spinoff from Ann Arbor-based GDI InfoTech Inc., an IT services company, provides daily information about new grants from federal, state and philanthropic organizations and serves as a social-media site for the grant-seeking community.

Previous funding for the company included $250,000 from the Michigan Pre-Seed Capital Fund, which is administered through Ann Arbor Spark; and $50,000 from the First Step Fund, a $5 million fund in Detroit founded by the New Economy Initiative.

The company’s software is currently being used by 25 universities, local governmental entities and economic development organizations, including Easter Michigan University and Spark.