FREDERICK, Md., July 5, 2018 /PRNewswire-PRWeb/ -- Mid-Atlantic Angels (MAA), Frederick's own version of "Shark Tank," is pleased to announce that two of our investor members have made an equity investment in Baltimore-based Speak Agent.
Speak Agent is a SaaS – or, software-as-a-service – platform that enables K-12 administrators to comply with laws requiring annual improvement of academic performance for the 4.8 million English Language Learners (ELLs) in U.S. schools through rapid, low-cost customization and personalization of instructional programs. The Speak Agent platform is currently in use at 75 schools in CA, FL, MD, NY, TX, and VA. Speak Agent also received equity investment in 2016 from the Maryland Technology Development Corporation and has leveraged investment and early revenue to significantly expand its market reach while enhancing its ELL product.
The MAA investment in Speak Agent represents the second company investment by its members thus far in 2018. MAA Managing Director Mark Greathouse notes, "Given the riskiness of start-up businesses, MAA must be highly-selective in assessing investment opportunities. To ensure readiness to pitch investors at our Shark-Tank-like angel events, candidate companies are screened using 20 key business criteria before facing MAA investors at an initial Pitch Review."
To protect the privacy of our member investors, MAA does not reveal the names of our members who invest nor the amounts invested. Investors must be members of MAA and be accredited as defined by the SEC to have the privilege of investing in the early-stage companies pitched at its events. Angel events are followed by due diligence meetings in which interested investors get into the nitty-gritty of reviewing investment term sheets and questioning the entrepreneurs in greater detail. The object is to mitigate risk so far as possible before the investor opens his or her checkbook.
Headquartered in Frederick, MAA strives to actively feed the Frederick economy by advising and obtaining investment capital for emerging technology companies through its five annual Capital Cycles. Investment options include "opt-in," syndication, and regulation crowdfunding. As a gateway to private equity capital, MAA is excited to help entrepreneurial businesses flourish in Frederick County and the region. Prospective investors may inquire about membership on the Investor Inquiries page at http://www.MidAtlanticAngels.com, while businesses seeking capital are invited to the Entrepreneur Inquiries page.
SOURCE The City of Frederick
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