The University System of Maryland’s venture fund made a $250,000 investment into Towson edtech company InferCabulary.
The investment from the Maryland Momentum Fund will help the company as it looks to expand its visual vocabulary app. The company plans to hire in inside sales, customer success and accounts management, said CEO Beth Lawrence.
Founded by Lawrence and Deena Seifert, who are speech language pathologists, the company is based out of the Towson University Incubator.
Maryland Momentum Fund Managing Director Claire Broido Johnson said the team demonstrated a few qualities that we often see investors valuing: “grit and resilience,” and are “very coachable.” The Momentum Fund was launched to invest in ventures affiliated with the university system.
The company’s app uses images and context clues to teach vocabulary. Students are required to infer the meaning of the words, a practice that is designed to apply critical thinking skills. A recently launched beta also includes a tool allowing teachers to copy and paste text, then creates a game based on words in the system. The company offers the technology on a SaaS model, and about 150 schools and districts have signed on.
“This is all about distribution partnerships,” Johnson said of the company’s growth plans, in a statement. “InferCabulary has built early partnerships, and as they accelerate, they will become an attractive acquisition target for several different existing players.”
The funding news comes about a month after InferCabulary picked up a win at the pitch competition of the LearnLaunch conference in Boston.
It’s the second Maryland Momentum Fund investment into a Baltimore-area company this month, following ARMR Systems‘ recent raise.-30-
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