The investment comes as part of a $10 million Series B investment round led by Route 66 Ventures and included Edison Ventures as a co-investor. The State of Maryland’s investment is part of a multifaceted effort led by Governor Martin O’Malley to stimulate growth and job creation among high-tech startup companies in Maryland.
“Today’s investment is part of our focus on innovation — we are committed to supporting our entrepreneurs, innovators, startup companies and small businesses like Motionsoft because, in addition to being the future leaders of our economy, they are creating the jobs of today and tomorrow,” said Governor O’Malley.
“By investing in high-tech startups like Motionsoft, we’re ensuring that Maryland is a state where businesses want to stay and grow while also creating family-supporting jobs for our highly-trained workforce,” said Lt. Governor Brown.
“This investment from the Maryland Venture Fund allows Motionsoft to continue to capture the attention of top talent that drives our market growth and innovation. This is something we can all be proud of,” said Al Noshirvani, CEO of Motionsoft.
Motionsoft’s leadership in member relationship management software (MRMS) and payment services is redefining health club management while enabling fitness operators to connect better with their members. For more information on Motionsoft, visit www.motionsoft.net.