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The Venture Codex

The Maryland Venture Fund

10960 Grantchester Way, Suite 120, Columbia, MD, 21044, United States

Overview

The Maryland Venture Fund, started in 1994, is a $110M early-stage, evergreen venture capital fund dedicated to funding and growing the next generation of exceptional businesses based in Maryland. The Fund makes direct investments in technology and life science companies and indirect investments in venture capital funds.

Total investments
2
Lead investments
0
Investments · 12mo
0
Active investors
0

Sector focus

  • Big Data
  • Biotechnology
  • Cloud Computing
  • Cyber Security
  • E-Commerce
  • Enterprise Software
  • Health Diagnostics
  • Information Technology
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Investment portfolio

  • Motionsoft

    Participated · Series B · Jul 2014

    Motionsoft is a Rockville, Md.-based Software-as-a-Service platform for member-based organizations in the fitness and wellness markets. Led by CEO Rick Auletta, the company offers MoSo™, an enterprise solution for operators requiring custom software and services, and MoSoClub™, a cloud-based club management software package. Its solutions serve fitness clubs, corporate fitness facilities, hospital wellness centers and university recreation centers. The company’s software is used by more than 2,900 businesses and over 8 million members. Motionsoft secured $17M in financing to accelerate growth, further enhance its product offering, and extend its leadership position in the health and fitness industry. Motionsoft is a Rockville, MD-based provider of SaaS and payment solutions serving the health and wellness industry. Led by CEO Al Noshirvani, the company offers cloud-based core club management, payment services and marketing software that automate membership retention and recruitment while providing strategic insights. Its client base includes health clubs, corporate and hospital-based wellness centers, and universities such as Town Sports International, Equinox and Active Sports Clubs. Motionsoft raised $10M in a Series B to support growth. The company intends to use the funds to expand sales and marketing operations. A prior financing noted in the article: in 2011 MotionSoft received $2M from Edison Ventures. MotionSoft is a Rockville, MD–based provider of Software-as-a-Service (SaaS) and payment/financial solutions for the health and wellness industry. Its core products include the Complete Member Management Software and a Billing Suite designed to support sales and prospecting, retention and engagement, and reporting/strategy. The company serves nearly 2,000 clients across the USA, Mexico, Canada and Europe, including commercial gyms, family activity facilities, schools, universities and hospital/corporate wellness facilities. Led by CEO Al Noshirvani, MotionSoft plans to deploy new capital to expand product development as well as sales and marketing efforts. The article does not disclose revenue figures or other operating metrics beyond client count. Motionsoft is a Silver Spring, MD-based provider of membership management software and billing solutions serving gyms, hospitals and corporate wellness centers. Its platform supports membership management and billing for more than 2,000 clients across the US, Canada, Mexico and Europe. Notable customers include Equinox, Gold's Gym, Starbucks, Mayo Clinic and Duke Fitness Center. The company says the new capital will be used to expand sales, marketing and development. In conjunction with the investment, Edison representatives joined Motionsoft’s board of directors.

  • 410 Labs

    Participated · Series A · Jul 2011

    Shortmail is an email front-end that enforces a 500-character limit on each message, positioning itself as a concise, Twitter-like experience for email. Users can mark conversations private or public, and the service works with existing email protocols as a bridge rather than a replacement. The product’s key design choice is to force brevity by preventing messages longer than 500 characters instead of relying on add-ons or self-policing. Shortmail is operated by 410 Labs; co-founder Dave Troy is quoted in coverage and tested the public conversation feature. Financially, 410 Labs has raised external funding to support the product: the company secured a $750,000 Series A round led by True Ventures with participation from other investors.

Team

No current team members are available.