Tammi Thomas

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The software industry is a dynamic force driving progress across all sectors. Maryland is home to a vibrant ecosystem of software companies tackling complex challenges and developing cutting-edge solutions. Championing this ecosystem is the Maryland Technology Development Corporation (TEDCO). Recently recognized by Pitchbook as the No. 5 top investor in the Mid-Atlantic region, they play a crucial role in fueling the success of Maryland’s software companies.

Established with a mission to identify, invest in, and cultivate early-stage technology startups within Maryland, TEDCO boasts a 26-year legacy of fostering innovation. Through a comprehensive array of resources, funding opportunities, and connections, TEDCO empowers software companies at every stage of their growth journey.

Here, we celebrate three remarkable Maryland-based software companies and explore how TEDCO is empowering them to achieve even greater success.

N5 Sensors: Pioneering Safety with Intelligent Sensor Systems

N5 Sensors, a Rockville-based company, is at the forefront of safeguarding communities from environmental threats. Their innovative solution revolves around a network of smart sensors that leverage the power of cloud connectivity and artificial intelligence. This real-time monitoring system allows for proactive intervention, potentially preventing hazards before they escalate. N5 Sensors’ technology is a prime example of Maryland’s talent for developing groundbreaking solutions with tangible real-world impact.Photo of Theodore (Teddy) Gresser, Director of Seed Funds at TEDCO

TEDCO’s investment in N5 Sensors illustrated how a portfolio company can benefit from multiple TEDCO initiatives. The Maryland Innovation Initiative (MII) has provided N5 Sensors with invaluable guidance and funding from its MII Company Formation Phase, propelling them forward in their mission to create safer communities. In addition, N5 Sensors received grant funding from TEDCO’s NIST – Science and Technology Entrepreneurship Program (N-STEP).

“N5 Sensors’ focus on promoting safety is admirable,” said Teddy Gresser, director of Seed Funds. “TEDCO is looking forward to seeing how our investment helps the company grow while continuing their research and innovation efforts.”

SharpRank: Sharpening Consumer Protection in Gaming

SharpRank, Inc., an agency located in Timonium, Md., is making an impact as an independent evaluator in the sports betting industry. Their live monitoring dashboards, periodic reporting of audits and performance, and data solutions strives to ensure fair and transparent sports betting markets, removing the gray area between sportsbooks and sports betting media – a relationship that can currently manipulate markets to the detriment of the industry’s sustainability.Professional Photo of Katherine Hill Ritchie, Senior Director of Venture Fund at TEDCO

SharpRank’s recent closure of a $2.5 million seed funding round led by TEDCO is a strong testament to the immense potential of its technology. Katherine Hill Ritchie, senior director of Venture Funds at TEDCO noted: “By leveraging AI to create a comprehensive sports betting evaluation system, SharpRank is working to provide transparency and fairness in a rapidly growing market. We hope that TEDCO’s investment in SharpRank will support their dedication to fostering a more sustainable sports betting landscape.”

Escalate USA: Empowering Frontline Employees

Escalate USA, based in Silver Spring, Maryland, is tackling a pressing national issue: the talent crisis impacting frontline positions. Their innovative software platform focuses on minimizing turnover among frontline employees through customized training and support. By ensuring employee success and prioritizing employee well-being, Escalate aims to end the current talent crisis.

TEDCO recognizes the importance of supporting companies that address social and economic challenges.Professional headshot of Jean-Luc Park, Senior Director of Social Impact Funds at TEDCO

“After finding that 76% of frontline employees leave their position during the first 120 days, Escalate committed to supporting frontline workers, improving the workforce and trying to halt this talent crisis,” said Jean-Luc Park, TEDCO’s senior director of Social Impact Funds. “With TEDCO’s investment, Escalate can continue working towards these goals, using technology to put people first while also supporting the growth of Maryland’s economic development.”

For more information about TEDCO’s investment opportunities, resources and programs, visit tedcomd.com.

Source: The Daily Record