Deal tracker.

• Author: Mildenberg, David M.
• Position: STATEWIDE: Charlotte

Helping investment bankers, lenders, chief financial officers and others involved in mergers and financial transactions stay organized is the premise of DealCloud, a Charlotte-based software-as-a-service firm that raised $4.5 million in June and has doubled its total staff to more than 50 in the last year.

Investors in corporate transactions need to connect with many other parties that have a role in completing deals, and DealCloud's service helps organize those relationships, says Ben Harrison, a 2007 graduate of UNC Chapel Hill. Offerings from Salesforce and large customer-relationship management companies "are too generic to help you do that. We took a complicated, complex problem specific to financial services and solved it very elegantly."

Harrison and Rob Cummings started DealCloud in 2010. Both had been working for Falfurrias Capital Partners, the Charlotte investment firm led by bankers Hugh McColl Jr. and Marc Oken.

The recent funding followed a $5.3 million round in late 2015. DealCloud's lead investor is St. Louis-based Cultivation Capital, whose general partner, Rick Kushel, became CEO in 2015. While he is based in Hoboken, N.J., close to New York's dominant investment-banking scene, and most of the company's capital comes from other cities, much of DealCloud's growth will happen in Charlotte, he says. The company...