TAMPA — Tampa tech startup CoLabs said Wednesday it has raised $6.2 million in investor backing for its IntelAgree software, a contract life cycle management tool designed to improve and simply business processes by using artificial intelligence and machine learning.
CoLabs introduced IntelAgree in March, and has picked up the Tampa Bay Buccaneers, Tampa Bay Lightning and Tampa Bay Rays as IntelAgree clients.
The three founders of CoLabs’ founders are David Hull, John Wagner and Marc Miller. Hull founded technology staffing company Veredus, which grew to $100 million in annual revenues before being acquired by Hays in 2014. Wagner is a founder of custom software development company AgileThought, which recently sold to AN Global. Wagner and Miller were the co-founders of eStaff365, a cloud-based employee on-boarding platform that launched in 2013 and was acquired by Boston-based Erecruit 20 months later.
CoLabs plans to use the newly raised capital to invest in sales and marketing, implementation services and integrating IntelAgree with other systems, Hull said in an announcement.