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The startup, founded last year, describes itself as a 'process intelligence platform for software development' designed to help users 'improve the transparency, predictability and efficiency of developing new software products.'
The software company has a history of funding growth, acquisitions and dividend payments to its private equity owners through debt, which apparently is creating some financial duress for the company during a time of surging interest rates.
Kvamme, the co-founder of Columbus' Drive Capital, and Leach, CEO of JumpStart Inc., have been working on raising The Ohio Fund, which aspires to catalyze economic growth in the state through investments in startups, real estate and infrastructure projects.
The collapse of Silicon Valley Bank was felt across the country, including the local market.
Vytalize attributes much of its growth to the Cleveland market, where it does a lot of business. The company is headquartered in Hoboken, New Jersey, but has had a significant presence in Ohio since its 2021 acquisition of MedPilot.