Grotech Ventures

Grotech Ventures is a venture capital firm established in 1984, headquartered in Hunt Valley, Maryland, with additional offices in Arlington, Virginia, and Denver, Colorado. The firm specializes in early-stage investments in high-growth technology companies, focusing on sectors such as social and digital media, e-commerce, mobile and cloud software, enterprise software, big data analytics, security technologies, and healthcare information technology. Grotech Ventures typically invests between $500,000 and $5 million initially, with a total target investment size of $5 million to $8 million, seeking to lead investments and acquire board seats in portfolio companies. The firm is committed to partnering with entrepreneurs who present innovative ideas and unconventional approaches, emphasizing collaboration and long-term support throughout the growth stages of their businesses. It specifically targets underserved venture markets across the United States, including regions like the Southeast and Rocky Mountain areas.

Charles P. Cullen

COO, CFO and General Partner

Chuck Cullen

General Partner, COO and CFO

Lawson DeVries

General Partner

Steve Fredrick

General Partner

Sharon Gogol

Vice President of Controller

Meghan Pfeifer

Director, Finance

Julia Taxin

General Partner

Past deals in Maryland

Sunstone Credit

Seed Round in 2022
Sunstone Credit is on a mission to democratize access to solar for small and medium sized businesses (SMBs). Sitting at the intersection of climate, finance and technology, Sunstone has built a best-in-class technology platform and partnered with leading financial institutions and a national network of solar developers to provide SMB borrowers access to simple, affordable and easy-to-understand solar loan products with flexible terms and a streamlined application process. When SMB customers go solar using Sunstone’s products, they save money and reduce their carbon footprint, driving a clean, green future for all. Learn more at sunstonecredit.com.

Apkudo

Venture Round in 2022
Apkudo, Inc. specializes in developing solutions for operators and original equipment manufacturers (OEMs) to facilitate the launch and management of Android devices. Founded in 2010 and based in Baltimore, Maryland, the company offers a platform called Hive, which integrates internal systems and external partners into a secure environment for managing connected devices throughout the supply chain. Apkudo's technology leverages artificial intelligence and robotics to enhance diagnostics, automate processes, and facilitate real-time decision-making. By standardizing and optimizing the exchange of data among stakeholders—including manufacturers, mobile network operators, and logistics providers—Apkudo aims to improve device quality, enhance user satisfaction, and promote efficiencies across the device lifecycle, from pre-launch to end-of-life. This comprehensive approach helps companies make data-driven decisions, reduce costs, and minimize electronic waste.

Youreka Labs

Series A in 2021
Youreka Labs is a developer of Salesforce-native applications designed to simplify smart mobile forms and procedures for various industries, including healthcare, manufacturing, energy, utilities, and the public sector. The company focuses on creating robotic smart mobile assistants that support frontline workers in performing their tasks safely and efficiently. By facilitating knowledge-sharing, offsite assistance, analysis, and feedback, Youreka Labs enables its clients to streamline operations and enhance overall productivity.

Apkudo

Series B in 2020
Apkudo, Inc. specializes in developing solutions for operators and original equipment manufacturers (OEMs) to facilitate the launch and management of Android devices. Founded in 2010 and based in Baltimore, Maryland, the company offers a platform called Hive, which integrates internal systems and external partners into a secure environment for managing connected devices throughout the supply chain. Apkudo's technology leverages artificial intelligence and robotics to enhance diagnostics, automate processes, and facilitate real-time decision-making. By standardizing and optimizing the exchange of data among stakeholders—including manufacturers, mobile network operators, and logistics providers—Apkudo aims to improve device quality, enhance user satisfaction, and promote efficiencies across the device lifecycle, from pre-launch to end-of-life. This comprehensive approach helps companies make data-driven decisions, reduce costs, and minimize electronic waste.

Cerebro Capital

Seed Round in 2020
Cerebro Capital, Inc. operates a web-based platform tailored for middle-market companies seeking to optimize their use of credit facilities for operations, growth, or acquisitions. Founded in 2017 and based in Baltimore, Maryland, the company aggregates data from over 80 lenders, facilitating a more efficient lending process for corporate borrowers, intermediaries, and private equity firms. Its online software provides valuable analytics to help match financing options with appropriate lenders and offers tools for interpreting complex financial data. By integrating credit metrics, Cerebro Capital enhances transparency in the borrowing process, allowing users to access important financial information, evaluate their credit standing, and identify new financing opportunities.

RackTop

Series A in 2019
RackTop was founded by intelligence community veterans who have been solving the most complex data and security problems for over two decades. Today, RackTop develops innovative software products that are revolutionizing the data storage industry by combining high-performance network attached storage with advanced security to solve the most difficult compliance and cyber security challenges facing the modern enterprise. RackTop’s products are unified under a single platform, offering reduced complexity, improved security, and significant cost savings over traditional solutions.

Yet Analytics

Seed Round in 2017
Yet Analytics, Inc. is a data analytics company based in Baltimore, Maryland, founded in 2014. The company offers a comprehensive platform that enables large organizations to collect and analyze data from various sources, including web, mobile, wearables, Internet of Things devices, sensors, and virtual and augmented reality systems. This platform focuses on identifying trends and behavioral patterns among employees, allowing businesses to leverage this information to enhance operational outcomes. Additionally, Yet Analytics provides a modular suite of interoperable software products that support the entire xAPI learning technology ecosystem, covering everything from data input to storage and output, and thus delivering a complete solution for modern learning and training analytics.

Healthcare Interactive

Series A in 2016
Healthcare Interactive, Inc. specializes in health planning solutions with a focus on enhancing the administration and delivery of healthcare. The company's flagship product, Healthspace, is a cloud-based platform that facilitates the management of benefits plans by integrating data, managing risk, and engaging members. Healthcare Interactive offers a range of services including automated benefit plan management, workplace well-being solutions such as health risk assessments and clinical coaching, incentive management, direct contract primary care, and compliance solutions for ACA reporting. Founded in 2006 and based in Glenwood, Maryland, Healthcare Interactive operates as a subsidiary of WellNet Healthcare Administrators, Inc. The company's mission is to empower client-partners to utilize data effectively, identify health risk and cost drivers, and develop targeted programs to improve health outcomes within their communities.

Healthcare Interactive

Series A in 2015
Healthcare Interactive, Inc. specializes in health planning solutions with a focus on enhancing the administration and delivery of healthcare. The company's flagship product, Healthspace, is a cloud-based platform that facilitates the management of benefits plans by integrating data, managing risk, and engaging members. Healthcare Interactive offers a range of services including automated benefit plan management, workplace well-being solutions such as health risk assessments and clinical coaching, incentive management, direct contract primary care, and compliance solutions for ACA reporting. Founded in 2006 and based in Glenwood, Maryland, Healthcare Interactive operates as a subsidiary of WellNet Healthcare Administrators, Inc. The company's mission is to empower client-partners to utilize data effectively, identify health risk and cost drivers, and develop targeted programs to improve health outcomes within their communities.

Ryft Systems Inc.

Venture Round in 2014
Ryft Systems Inc. specializes in big data analytics, providing virtual and heterogeneous compute solutions designed to enhance data analysis for large-scale operations. The company's product offerings include Ryft CLUSTER, which supports petabyte-scale data analysis, and Ryft ONE, a compact platform that delivers real-time insights by analyzing both historical and streaming data simultaneously. Utilizing hybrid x86/FPGA technology, Ryft's systems significantly accelerate data processing speeds, achieving performance levels of up to 10 gigabytes per second while optimizing energy consumption. Ryft serves various sectors, including retail, finance, defense, and healthcare, helping organizations extract valuable intelligence from complex datasets. Founded in 2012 and headquartered in Rockville, Maryland, Ryft was previously known as Data Design Corporation.

iBiquity Digital

Private Equity Round in 2009
iBiquity Digital is a company that develops and licenses digital HD Radio technology for AM and FM audio and data broadcasting both in the United States and internationally. The technology enables digital radio signals to coexist on the same airwaves as traditional analog broadcasts. Additionally, the company offers products such as the Gigaware Navigation Control HD Radio Receiver accessory and a Gigaware HD Radio application for iPhone and iPod touch users, which allows access to HD Radio FM broadcasts. Founded in 1991 and originally known as USA Digital Radio, iBiquity Digital is headquartered in Columbia, Maryland, with additional offices in Basking Ridge, New Jersey, and Pontiac, Michigan.

iBiquity Digital

Series D in 2008
iBiquity Digital is a company that develops and licenses digital HD Radio technology for AM and FM audio and data broadcasting both in the United States and internationally. The technology enables digital radio signals to coexist on the same airwaves as traditional analog broadcasts. Additionally, the company offers products such as the Gigaware Navigation Control HD Radio Receiver accessory and a Gigaware HD Radio application for iPhone and iPod touch users, which allows access to HD Radio FM broadcasts. Founded in 1991 and originally known as USA Digital Radio, iBiquity Digital is headquartered in Columbia, Maryland, with additional offices in Basking Ridge, New Jersey, and Pontiac, Michigan.

iBiquity Digital

Series C in 2005
iBiquity Digital is a company that develops and licenses digital HD Radio technology for AM and FM audio and data broadcasting both in the United States and internationally. The technology enables digital radio signals to coexist on the same airwaves as traditional analog broadcasts. Additionally, the company offers products such as the Gigaware Navigation Control HD Radio Receiver accessory and a Gigaware HD Radio application for iPhone and iPod touch users, which allows access to HD Radio FM broadcasts. Founded in 1991 and originally known as USA Digital Radio, iBiquity Digital is headquartered in Columbia, Maryland, with additional offices in Basking Ridge, New Jersey, and Pontiac, Michigan.

RewardsPlus

Venture Round in 2005
RewardsPlus is a provider of benefits management technology. RewardsPlus' Benfinity system is a suite of Web-based applications and professional services designed to simplify and automate employee benefits communication, self-service enrollment and ongoing post-enrollment administration. Serving many nationally recognized corporations such as Unilever, AT&T, and National City Corporation.
Bluefire Security develops security software for wireless and mobile handheld devices.

BroadSoft

Series C in 2004
BroadSoft, Inc. is a prominent provider of software and services that empower telecommunications service providers to offer hosted cloud-based unified communications (UC) to enterprise customers across various regions, including North America, Europe, the Middle East, and Africa. The company's main products include UC-One, which integrates various communication and collaboration tools such as phone services, messaging, and video conferencing; Team-One, a solution for project management and collaboration; BroadSoft Hub, which connects real-time communications with cloud applications; and CC-One, a contact center solution for multi-channel customer interactions. BroadSoft's offerings are delivered through its BroadWorks application server and BroadCloud platform. The company also provides professional support services, including installation, project management, and training. Catering to over 500 telecommunications service provider customers, BroadSoft operates in more than 70 countries and serves many of the largest telecommunications carriers globally. Founded in 1998 and headquartered in Gaithersburg, Maryland, BroadSoft became a subsidiary of Cisco Systems in 2018.

Chicken Out Rotisserie

Venture Round in 2002
Treating your family, your guests, and yourself to flavorful, high-quality, inexpensive meals has never been more convenient. At Chicken Out, they provide award-winning, always fresh, 100% all-natural chicken, served in a variety of scrumptious dishes, from platters to salads, from breasts to filets, and from sandwiches to soups to rotisserie on the bone. They marinate their chickens in a special blend of natural herbs and spices, slow rotisserie roast them to perfection, and serve them fresh and juicy. To make your mealtime planning as simple as possible, Chicken Out provides many options for ordering. You can order online and pick up your meal at one of their local restaurants. Or, join us for in-house dining. Chicken Out also provides on-demand catering services. Call us, or email us, and they’ll provide a catered meal for a large group within two hours. And if you need the meal sooner, call us for immediate assistance.

BroadSoft

Series C in 2002
BroadSoft, Inc. is a prominent provider of software and services that empower telecommunications service providers to offer hosted cloud-based unified communications (UC) to enterprise customers across various regions, including North America, Europe, the Middle East, and Africa. The company's main products include UC-One, which integrates various communication and collaboration tools such as phone services, messaging, and video conferencing; Team-One, a solution for project management and collaboration; BroadSoft Hub, which connects real-time communications with cloud applications; and CC-One, a contact center solution for multi-channel customer interactions. BroadSoft's offerings are delivered through its BroadWorks application server and BroadCloud platform. The company also provides professional support services, including installation, project management, and training. Catering to over 500 telecommunications service provider customers, BroadSoft operates in more than 70 countries and serves many of the largest telecommunications carriers globally. Founded in 1998 and headquartered in Gaithersburg, Maryland, BroadSoft became a subsidiary of Cisco Systems in 2018.

USA Digital Radio

Private Equity Round in 2000
USA Digital Radio is a developer of digital audio broadcast technology or iDABTM.

RewardsPlus

Series D in 2000
RewardsPlus is a provider of benefits management technology. RewardsPlus' Benfinity system is a suite of Web-based applications and professional services designed to simplify and automate employee benefits communication, self-service enrollment and ongoing post-enrollment administration. Serving many nationally recognized corporations such as Unilever, AT&T, and National City Corporation.

USInternetworking

Venture Round in 1998
USinternetworking, an applications services provider, manages companies' software via the internet. It provides hosted applications via the internet for large companies looking for managed software services. It offers applications from vendors in the areas of enterprise resource planning and customer relationship management (Oracle), spend management (Ariba), messaging and collaboration (Microsoft), and custom developed e-commerce systems. USinternetworking's customers included the State of Maryland's Department of Health and Mental Hygiene, Sunburst Hospitality, and Yankee Candle. The company was acquired by US telecom service giant AT&T in 2006.
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