These 3 companies just got funding from Anne Arundel's VOLT fund - Technical.ly Baltimore

Civic

Mar. 14, 2017 9:03 am

These 3 companies just got funding from Anne Arundel’s VOLT fund

CourseArc, PeerAspect and SecuLore Solutions got a total of $700,000.

CourseArc cofounders Katie Egan (left) and Bethany Meyer.

(Courtesy photo)

The Anne Arundel County Economic Development Corporation doled out a total of $700,000 to startups from a tech fund it administers.

AACEDC distributes tech loans through an allotment from the state’s VOLT fund, which is supported by 1.5 percent of the revenue collected from video lottery terminals at Maryland casinos.

In terms of what stage they seek to fund, a rough shorthand for Maryland startups is post-TEDCO, but pre-Series A.

Here are the three companies chosen to receive funding from 52 applicants:

CourseArc

PeerAspect 

  • A Baltimore-based ETC graduate company that’s helping companies manage supply chain data. CEO Scott Kaufman said the funding “will be a bridge from the seed-level capital we’ve raised so far to the proper A-round we intend to raise later this year.” ($250,000)

SecuLore Solutions

  • A Chesapeake Innovation Center-based cybersecurity company focused on protecting 911 call centers. CEO Timothy Lorello said the funding will help the company expand offerings for its platform, Paladin. ($250,000)

The no-interest loans don’t have to be paid until a startup receives money from institutional investors that is four times the amount of the original fund, or exits.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

VitusVet moves to Baltimore from Columbia, plans hiring

MICA’s UP/Start Venture Competition meant progress and funding for these 8 startups

Here’s a look at 11 Johns Hopkins student startups working in health, VR and beverages

SPONSORED

Baltimore

How SmartLogic accelerated these startups’ product growth trajectories

Philadelphia, PA

Orthly

Full-Stack Javascript Engineer

Apply Now
Baltimore, MD 21201

14 West

Chief of Staff

Apply Now
Baltimore, MD

SmartLogic

Product Designer

Apply Now

This startup has a way to charge wireless devices without cords

Baltimore’s ABS Capital Partners leads $23M Series A for Florida cybersecurity company

Female founders get far less VC funding than men. Here’s a look at the numbers in Baltimore

SPONSORED

Baltimore

This fast-growing SaaS company aims to be a force for change in the energy industry

Baltimore

Technically Media

Technical.ly Baltimore Contributing Reporter (Contract or Freelance)

Apply Now
Baltimore, MD

SmartLogic

Developer

Apply Now
Baltimore, MD 21201

14 West

Application Security Engineer (Pen Tester)

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!