Columbia, SC – South Carolina Research Authority’s investment affiliate, SC Launch Inc., has invested in ScopeStack Inc. for a second time. The $250,000 investment will help the Greenville-based software startup expand to continue streamlining statements of work for IT companies.
ScopeStack became an SCRA Member Company in 2018 and successfully progressed through the program, receiving a $25,000 Project Development Fund Grant and a $50,000 Acceleration Grant. They eventually became an SC Launch Inc. Portfolio Company in 2021 when they received their first investment of $250,000.
Developed by IT providers, ScopeStack offers a Software-as-a-Service (“SaaS”) solution for creating statements of work by redefining the presales process for IT services providers, managed services providers, and cloud services providers through a unique automation platform. The platform enables engineers to accurately price professional services, reduce the time to scope a project, and quickly generate statements of work while ensuring that accuracy and proper approvals are in place.
“Generating an accurate statement of work can be tedious, but ScopeStack understands the intricacies because the founders came from the very IT service industry they serve. Their solution works extremely well because it’s truly an answer to the problems they saw first-hand,” said Lee MacIlwinen, SCRA investment manager. “ScopeStack makes scoping projects a turnkey process.”
“Most companies have no idea how much their inaccurate statements of work are costing them. This includes the time to scope the project, the investment in the team to do the project, and the re-work an inaccurate statement can cause,” said Jon Scott, ScopeStack founder, and CEO. “Lee and the team at SC Launch Inc. always believed in our development, and we appreciate their vote of confidence in the business solutions we provide.”
“ScopeStack’s commitment to helping businesses run more smoothly is consistent with our mission of helping business grow,” said Bob Quinn, SCRA executive director. “We’re excited to partner with them in their success.”
ScopeStack also recently launched a podcast where they are helping businesses by discussing the dos and don’ts of scoping and managing IT projects. They have a growing client base, including some of the industry’s largest global IT distributors, resellers, and managed services providers.
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Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and equity investments to selected South Carolina-based companies participating in the SC Launch program.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels South Carolina’s innovation economy through the impact of its four programs. SC Academic Innovations provides funding and support to advance translational research and accelerate the growth of academic startups. SC Facilities offers high-quality laboratory and administrative workspaces for technology-based startups and academic institutions. SC Industry Solutions facilitates and funds technology advancements and partnerships with industry, startups, and academic institutions. SC Launch mentors and funds technology-based startups that may also receive investments from SCRA’s investment affiliate, SC Launch Inc.
Media Contact
Adrianne Grimes
Director of Marketing and Communications, SCRA
O: (854) 888-2033
C: (843) 277-7295
adrianne.grimes@scra.org
