CUMBERLAND, Maine, June 25, 2020 /PRNewswire/ -- Reconnect is pleased to announce the close of their latest round of funding, and the addition of exciting new investment partners.
Reconnect, based in Cumberland, Maine, is dedicated to building technology for accountability, starting with the Criminal Justice industry. Reconnect's mission is to use technology to fight incarceration, recidivism, and addiction which collectively cost the US over one trillion dollars annually and have a tremendous impact on communities nationwide.
With the close of this convertible note, Reconnect has raised $3.7 million in 2020 to continue their important work. The funds will further the development of data driven software and hardware designed to improve outcomes for individuals in the justice system. Several institutional investors have joined Reconnect including San Francisco-based Yes VC, Philadelphia-based SustainVC, Knoxville-based 6ixth Event, and Maine-based entrepreneur and investor David Shaw—founder of Idexx and Vets First Choice.
This has been a busy year for Reconnect, as their technology enables probation and parole departments to operate remotely. They have added over 100 new jurisdictions since the start of the COVID-19 pandemic, and now have customers in 35 states. They have also been named a finalist for Fast Company's 2020 World Changing Ideas Awards
Reconnect's Founder and CEO, Sam Hotchkiss, stated, "There has never been a timelier moment for the criminal justice system to embrace true change. The solutions created by Reconnect are proving to be part of that change. Our solutions are data-based and accountability-driven, something research has shown time and time again are significant factors for success in our field. We welcome our new partners and their contributions as we move forward."
Managing Principal Eric Chapman shares why early stage impact investor SustainVC decided to invest: "At this pivotal moment in history when the BLM movement is highlighting inequities in the Justice system, we are excited to support Reconnect and welcome them to our portfolio of companies empowering and serving marginalized communities. Reconnect's demonstrated deep understanding of the complexity of creating long-term impact in the prison space and strong recommendations from their customers made this a compelling investment for us."