CourseArc, a cloud-based online content creation platform, announced Monday it has secured a $200,000 loan 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 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, the company’s 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.