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January 27th, 2021

Bloomington Startup Receives Funding to Test Software

BLOOMINGTON Atlas Solutions has launched a software platform and related pilot program to help non-profit organizations manage grants more efficiently.

The Bloomington-based startup, which was launched in 2019, received a $20,000 investment from Elevate Ventures’ Community Ideation Fund in late 2020. The funding allowed founder and CEO Ansley Fender to build basic software for the pilot program.

“Atlas Solutions would not have a software product without the funding from Elevate,” said Fender. “This money will always be what created the product and I’m extremely grateful for that.”

While working in non-profit management, Fender discovered a need for better technology—particularly for grant recipients. Most grants are paid as reimbursements, and organizations must document how money is spent in order to be reimbursed. Manual management can cost up to one-third of the grant income. Atlas Solutions streamlines the process by integrating with the organization’s accounting software to track budgets and prepare reports.

To build the software, Fender connected with the Dimension Mill, a co-working space in Bloomington, and Cy Megnin, Elevate Ventures’ entrepreneur-in-residence serving Velocities, a partnership focused on startups in south central Indiana.

“I have volunteered for a lot of non-profits, so I knew what Ansley was building was really filling a niche,” Megnin said. “I also watched how quickly requests to be involved in her beta testing were filling up. It made me realize what a big issue she is solving.”

Organizations interested in signing up for the wait list can learn more at getatlassolutions.com. Test participants will receive responsive service, including in-person onboarding and integrated user feedback.

Elevate’s Community Ideation Fund is made possible through its partnership with Velocities. The Community Ideation Fund is available through the state’s 21st Century Research and Technology Fund, which is overseen by the Indiana Economic Development Corp. and promotes economic growth and innovation-driven public-private partnerships in Indiana.

Fender graduated last year from Elevate Origins, which provided necessary tools enabling Atlas to receive the Community Ideation Fund investment.

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