Igor Inc. Successfully Hires New CEO and Raises $6M
July 25, 2016
Igor announced hiring Steven L’Heureux as its CEO, President and Chairman. Steven was most recently the CEO of Ryko Solutions, a large, privately owned manufacturing company based in Grimes, IA., where he still serves as the Vice-Chairman of the Board. Steven joins Dwight Stewart who is the Founder of Igor and leads the technology development.
Igor also announced that it has completed the process of securing $6 million in total financing from the State of Iowa as well as angel and VC investors. Igor will use the funds to enhance the development of its Power-over-Ethernet (PoE) Intelligent Lighting System and Software as well as to ramp-up sales and marketing. The lead investors included CMA Ventures, a private investments subsidiary of Central Iowa Power Cooperative (CIPCO), Next Level Ventures and Steven L’Heureux.
“The lighting industry is undergoing an exciting digital transformation led by the rapid adoption of solid state LED based fixtures”, stated Steven L’Heureux. “Our recent capital raise will enable Igor and our business partners to accelerate this transformation and seize the commercial opportunities it represents.”
Steve L’Heureux led the most recent capital raise efforts with advisory services from JD Geneser of LWBJ. Chris Sackett of Brown Winick served as legal advisor to Igor in its financing.