TEDCO Announces Investment into Marinalife
Maryland small business creating technology solutions to enhance boater life
COLUMBIA, Md. (April 26, 2023) – TEDCO, Maryland’s economic engine for technology companies, announced a recent Venture Funds investment of $500,000 in Marinalife Inc., a small business operating a software-as-a-service (SaaS) platform to support boaters and marina management.
“As lifelong boaters, we saw a gap in the industry. Many of the marinas throughout the boating industry were still relying on paper, spreadsheets, and whiteboards for their business’ management,” explained Jennifer LeRoux, CEO of Marinalife. “Turns out, the technology software created to simplify managing marinas is costly and limiting, causing many marina owners to resort to other, non-technology-based solutions. So, we sought to provide solutions that would benefit everyone—limiting the frustrations boaters experience, while also providing a more reliable and efficient method of management for marinas. It was time to bring technology to the boating industry, streamlining various processes, letting boaters and marina management find the information they need to succeed.”
Marinalife Inc., based in Baltimore, Md., is bringing tech-enabled solutions to the boating industry. Through Marinalife’s platforms, marinas and boaters are provided with an easier way to connect and interact. One of these platforms is Snag-A-Slip, which allows boaters to easily search, select and reserve a slip. Additionally, Marinalife Manager offers marina owners a better management experience, providing streamlined internal operations and real-time analytics. Marinalife’s suite of products allows marinas to spend more time interacting with boaters and ensuring they are available to provide excellent customer service and support.
“It’s hard to believe that in the 21st century, a significant business like the boating industry was still relying on paper and ink,” said Katherine Hill Ritchie, senior director of Venture Funds at TEDCO. “The innovative technology solutions that Marinalife offers have the potential to impact the entire boating industry, allowing for happier boaters and marina managers. It’s this innovative thinking that allows TEDCO to create change throughout Maryland.”
TEDCO’s evergreen Venture Funds are committed to funding and growing the next generation of early-stage businesses in Maryland; these funds are one of the many investment opportunities TEDCO can provide to qualifying technology-based start-ups and small businesses throughout Maryland. For more information, visit our page here: https://www.tedcomd.com/funding/.
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
Tammi Thomas, Chief Development & Marketing Officer, TEDCO firstname.lastname@example.org.