Where It All Began
Wellspring was founded as a spin-off of Carnegie Mellon University and soon became the preeminent tech transfer solution provider for universities and research institutes.
Sophia Gets an Upgrade
Wellspring's flagship product Sophia gets a major upgrade, rewriting the activity matrix, finance, and permissions while adding WUI architecture and advanced workflows.
Wellspring Acquires Flintbox
Flintbox was a collaboration with tech scouts to organize data in order to connect the innovation ecosystem and bring inventions to market. It's a modern, online system that provides clear and consistent summaries of technologies, startups, and faculty expertise. This added to Wellsprings offerings to serve institutions and make an impact.
Wellspring 2.0
After upgrading the platform again, Wellspring did a $5 million Series A capital raise that then led to hiring it's first official corporate sales and marketing teams to prepare for growth.
Additional Capital Raise
In 2016, Wellspring did a $7 million Series B capital raise to further position it for growth and product enhancements to serve the IP Market.
Wellspring Acquires Covalent Data
Covalent Data, the leader in innovation intelligence, housed the world’s most comprehensive and accurate collection of content illuminating the global innovation landscape. This technology, now integrated into Wellspring's products, enables researchers to showcase their expertise, institutions to market their assets, foundations to evaluate grant applicants, and licensing professionals to discover groundbreaking technologies. Utilizing this functionality gives all participants in the innovation ecosystem the ability to efficiently track trends, analyze opportunities, and connect with each other. Covalent Data became the base platform for Wellspring's Scout product, the AI-Powered search engine for innovation, connecting universities, institutions, startups, and corporations to develop and bring innovations to market.
Wellspring Acquires MyIP
MyIP was a UK based competitor in the intellectual property space.
RTP Makes Strategic Investment in Wellspring
Resurgens Technology Partners (RTP), a software-focused private equity firm, made a strategic platform investment in Wellspring to drive further growth and expansion in the innovation space.
IP Pragmatics Acquisition
Wellspring acquired IP Pragmatics, an IP consulting services company that was complementary to Wellspring's product offerings.
Wellspring Acquires Sopheon
In early 2024, Wellspring acquired Sopheon, the premier innovation management software in the industry. Together as one company Wellspring now powers the entire innovation lifecycle from conceptualization to commercialization and market impact. Giving organizations invaluable tools to drive the complexities of innovation forward and together, the ability to transform tomorrow.
Wellspring Rebrand
The Dawn of the Frog. Following the acquisition of Sopheon, Wellspring rebranded itself to reflect its role in serving the entire innovation ecosystem. "The Wellspring Frog" is a symbol of abundance and renewal. Frogs are an indicator species meaning their presence and health can indicate the overall health of an ecosystem. We now serve innovation from conceptualization to commercialization and market impact. Innovation is in our DNA and together with world-renowned institutions and global forward thinking corporations, we transform tomorrow.
