Providence tech startup Swipely, which has grown significantly since it was launched in 2009, says a new infusion of $20 million in venture capital funding will enable it to continue expanding a small spark of Silicon Valley in Rhode Island.
"The intent is to use those funds to continue to aggressively growing the team in all our areas, including our engineering team, our marketing and sales team, and other departments within the company," Swipely founder Angus Davis said during a news conference Thursday morning.
The plan to locate a state probation office on Fountain Street in downtown Providence is dead. But RIPR political analyst Scott MacKay says the debate on where it ought to go may be just beginning.
After an outcry ignited by Angus Davis, one of Rhode Island’s top young high-tech entrepreneurs, Governor Lincoln Chafee’s administration has pulled back a proposal to move a state probation office from a gritty South Providence neighborhood to a downtown venue nestled among the Providence Journal Building, The Rhode Island Convention Center and the Providence Biltmore Hotel.
While the meltdown of 38 Studios is certainly Rhode Island's top story for 2013, Swipely -- the company started by Angus Davis -- is showing how a smart entrepreneurial company can thrive in the Ocean State.