26 Nov Maxtena receives funding through InvestMaryland program
Earlier this month Maxtena became one of the first companies to receive funding through InvestMaryland, the state’s venture capital program. The program is a funding source for early, mid and late stage growth companies. InvestMaryland focuses on businesses in software, communications, cyber-security and life sciences that have their principal business operations located in Maryland.
Created by Governor O’Malley and passed by the General Assembly in 2011, InvestMaryland is the largest venture capital investment initiative in Maryland’s history. The program is being administered through the Maryland Venture Fund Authority and Department of Business and Economic Development. In March, the State raised $84 million for the program through an online auction of tax credits to Maryland insurance companies.