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Monday, February 10, 2014

GOVERNOR O'MALLEY ANNOUNCES $500,000 INVESTMENT IN SALESWARP FROM INVESTMARYLAND

BALTIMORE, MD – SalesWarp, a Baltimore-based provider of e-commerce management software, has received a $500,000 investment from the State’s InvestMaryland program, the Maryland Department of Business and Economic Development (DBED) announced today. A public-private partnership between the State and venture capital firms, InvestMaryland raised $84 million to reinvigorate the State-run Maryland Venture Fund (MVF) and support the growth of young Maryland companies in biotechnology, cybersecurity, e-commerce and other high-growth industries. The funding, through the Maryland Venture Fund, led SalesWarp’s fundraising round and will be used to grow the company’s innovative line of products.

“Entrepreneurs, startup companies and small businesses play a critical role in the growth of Maryland’s economy. They are the engine that drives innovation and discovery while creating the family-supporting jobs of today and tomorrow,” said Governor Martin O'Malley. “We are proud to make this investment in SalesWarp and we look forward to their success in Maryland’s growing community of exciting high-tech startups.”

“We are thrilled to have this commitment from the Maryland Venture Fund,” said David Potts, Founder and CEO of SalesWarp. “Beyond the funding, MVF also brings many connections and skills that will help us achieve our 2014 goals and grow our team here in Maryland. We’re using this funding to expand our market share nationally, meet rising customer demand and continued innovation of our product lines to propel growth.”

SalesWarp, a retailer’s mission control center, has experienced strong growth the past two years by serving both enterprise and emerging online retailers. A budding 12-personcompany located in Baltimore’s Emerging Technology Center, SalesWarp expects its staff to grow to 25 by the end of 2015. Much of the company’s growth can be attributed to its partner strategy and integrations with leading eCommerce firms, including shopping carts (Magento, Volusion, Demandware, osCommerce), online marketplaces (Amazon, eBay, Rakuten), accounting (Quickbooks, Peachtree) and shipping software (Shipworks, iabol, Shipstation).

Publishers Notes: Once again, why not the Eastern Shore?

11 comments:

  1. Maybe there are not enough people with computer science degrees on the shore or willing to relocate to a depressed area.

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  2. Joe, I wish more businesses would expand and grow here. I also wish some industries would come back. But MOM just doesn't give 2 sh!ts on what happens down here. As long as we keep electing people like liarton, tricky ricky, babs, cardin, mathias, conway, the shore won't grow. If we keep paying taxes on little things like this rain tax, chicken tax, etc. we are going to continue to decline here.

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  3. Once again, why not the Eastern Shore.


    Answer: O'Malley could care less about the eastern shore. O'Malley is only concerned about one thing - his own meal ticket into the White House. He has literally plundered the eastern shore of its natural resources. Our founding fathers called individuals like O'Malley - TYRANTS!!

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  4. Has nothing to do with O'Malley

    1. there are no biotechnology, cybersecurity, e-commerce and other high-growth industries here
    2. if there were, they could have applied for this grant and did not
    3. it is our own local governments fault for not promoting the area
    4. work ethic here is awful, which explains why ALL big businesses pulled out
    5. what do you expect when you have a part time government

    Quit blaming everyone else for your problems and solve it locally.
    It is way past time to change the structure of our local government, we need a FULL TIME executive in charge. I know you hate Laura Mitchell, but at least she goes across the bridge and represents us, does the Mayor? Do any of the other council members?

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  5. Please replace the word "Investment" With the real word, "spending".

    Now you have the real picture.

    I'll add a "DUH" just for effect!

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  6. I agree 8:03 except for your choice of rep...we need people with tech experience ...bussiness experience..section 8 housing projects touted by welfares queens is not represetative of this area

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  7. Yep, them dang people with them fancy degrees get all the luck….MD just gave them 1/2 a billion dollars to make more money.

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  8. Has saleswarp announced ther $1,000,000.00 contribution to Maty's campainge for grand pooba? They will shortly

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  9. 8:03 I agree, except for the Laura Mitchell part. She is not representing business or the working class.

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  10. Obama Crooked BastardoFebruary 11, 2014 at 8:18 AM

    8:03 I may have agree somewhat to the first part of your statement. And then you say Laura Mitchell and Represent in one sentence? What does she represent, the Welfare Crowd & EBT Card holders? Maybe its bad luck maybe its something else on her part, but people like that should not be in charge of any business. Has anyone ever got a job from poor person and got paid for it? It should be a team of enterprenaurs and businessmen. Unfortunately, this bunch in Salisbury has no experience with making money, all they know is to tax and spend, absolutely clueless. Hey, but they got the new "Bury" T-shirts, what a joke.

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