CourseArc, a cloud-based online content creation platform, today announced its selection as one of the recipients of a $200k loan to Technology Businesses through Maryland’s VOLT Fund. Given to high-potential, early-stage startups, the loan will support the company’s business development efforts and the expansion of marketing activities to broaden awareness in target markets.
“The loan through the VOLT fund came at the perfect time for us, as we have established traction with key clients in our target markets, especially in the Maryland region, and spent the last few months expanding our technological capabilities. With the positive feedback we have received from our existing clients, we know our natural next step is to deliver CourseArc to a wider audience,” said Katie Egan, Co-Founder and CEO of CourseArc. “We are grateful to have been selected for the VOLT Fund from among so many Maryland companies who offer useful, innovative, and disruptive products.”
The VOLT Fund is supported by 1.5 percent of revenue from video lottery terminals at Maryland casinos. Anne Arundel Economic Development Corporation manages the fund and administers loans to small, minority-, women- and veteran-owned businesses based in Maryland. CourseArc was one of three technology companies selected out of 52 applicants.
CourseArc was co-founded by Egan and Bethany Meyer, Chief Technology Officer, as a response to their collective experience in creating online courses and training for various companies and schools. They recognized a gap in the eLearning market for an intuitive tool that gives subject matter experts the ability to easily create their own online courses. CourseArc streamlines eLearning, empowering the experts and designers by removing technological barriers. As the eLearning industry continues to grow in support of organizations who educate learners in an increasingly mobile and student-centered world, CourseArc provides a simple solution that delivers on-demand learning to a wider and geographically-diverse audience.
The VOLT fund loan will enable CourseArc to hire a Director of Business Development to expand the company’s sales and marketing efforts, and will help CourseArc increase brand awareness both online and at eLearning conferences and trade shows.
ABOUT COURSEARC
CourseArc is a web-based eLearning authoring platform that makes developing course content accessible. Founded in 2015 by Katie Egan and Bethany Meyer, CourseArc is a resource for educational institutions, companies and individual content publishers to create interactive and customizable online courses. Headquartered in Baltimore, CourseArc is a member of Betamore, a community of startups and entrepreneurs as well as the Towson University Incubator. CourseArc has been recognized statewide for its growth by the VOLT Fund and the TEDCO Seed Investment Fund. For more information, visit https://coursearc.com.
