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Intrepid Phoenix Ventures, a technology startup founded at the IDEA Center on the University of Notre Dame campus, has closed on a $2 million investment.
The funding from Red Rock Equity Group will be used to enhance the company’s substance use disorder recovery software and build its business development efforts.
Intrepid Phoenix is launching an app called Quality of Sobriety that allows users to create a personal recovery plan and progress tracker to “anticipate relapse before it happens and prevent relapse,” according to the company’s website. It is said that it was developed.
Founder and CEO Larry Smith said the investment exceeded initial plans.
“We had opened a $400,000 round and Red Rock Equity was so impressed with our business plan and mission that they decided to fund our business for the next two to three years. “We have decided to do so,” Smith said in a news release.
Intrepid Phoenix Ventures developed the software platform in collaboration with the University of Notre Dame and the Bowen Center, a Wabash-based health care provider. Smith said the company is now in a position to move deeper into executing its strategic plan.
“We have hired a sales executive and a product director to strengthen our business development efforts,” Smith said. “We’re also ramping up our investments on the digital side, from our new website to social media marketing. And as far as products go, we’re improving the look and feel of both our phone apps and clinician desktops. We invest in applications with large-scale software development projects. We believe that our software tools enable individuals to live moderate, healthy, and happy lives.”
Intrepid Phoenix Ventures’ origins date back to 2019, when Smith made a five-minute pitch at the IDEA Center Innovation Rally before a Notre Dame football game. Representatives from Red Rock Equity were also present at the rally.
Smith noted the importance of IDEA Center to the company’s success.
“We have gone through de-risking and commercialization engine programs, but we would not be where we are today without the IDEA Center,” he said. “We do this work to reach people with substance use disorders and help them live better, more fulfilling lives. I can speak from my own personal experience. But being clean and sober is life-changing.”
Intrepid Phoenix also operates numerous in-person fitness programs for people in recovery at YMCAs and gyms in multiple locations, including La Porte, Michigan City, Valparaiso, Plymouth, Knox, Rochester, Peru, Winamac, and Terre Haute. I am.
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