Maryland company working to support employee growth
COLUMBIA, Md. (August 3, 2024) – TEDCO, Maryland’s economic engine for technology companies, announced an State Small Business Credit Initiative (SSBCI) investment of $300,000 in Truvelop, a Human Resources (HR) technology startup. TEDCO’s Seed Funds invest in early-stage, technology and life sciences companies and provides access to gap financing.
Truvelop, based in Baltimore, Md., has developed a software as a service (SaaS) that works to transform how companies evaluate and develop employee talent. Through their algorithm, Truvelop is leveraging technology to allow for a more efficient assessment of employee and organization strengths.
“Truvelop is looking to address a concern that can affect companies around the world,” said Teddy Gresser, director of TEDCO’s Seed Funds. “By utilizing a ‘sliding scale’ technique, companies can promote employee growth, which could ultimately lead to company success.”
TEDCO’s Seed Funds invest in companies that show promise of becoming venture fundable companies or are companies that, through a seed investment, will be sustainable through customer revenue, follow-on funding, or other forms of corporate venture. For more information or to apply to TEDCO’s Seed Funds, click here.
SSBCI funding targets communities and areas with small, micro and Socially and Economically Disadvantaged Individual (SEDI businesses. For more information about TEDCO’s SSBCI funding, visit https://www.tedcomd.com/funding/state-small-business-credit-initiative-ssbci.