TEDCO, Maryland’s economic engine for technology companies, announced today its Maryland Venture Fund invested $500K in REXTAR. TEDCO’s MVF is an early-stage, venture capital fund dedicated to funding and growing the next generation of outstanding technology-based businesses in the state. With the goal of making meaningful investments into venture trajectory businesses as their first institutional partners.
“We are excited that TEDCO has joined our investor group,” said Bill Fox, chairman, CEO, and co-founder. “With their participation, REXTAR is poised to rapidly expand its market footprint and its repertoire of technology solutions for real estate agents and the residential real estate industry.”
REXTAR LLC, based in Baltimore and founded by a seasoned group of real estate and technology professionals, offers an innovative technology solution for the sale of residential real estate. REXTAR revolutionizes the interaction between buyer and seller by bringing the transaction online- efficiently and cost-effectively in a secure, convenient and totally transparent bidding environment. REXTAR’s platform accommodates both non-contingent sales of investment properties as well as retail sales to owner-occupants, who typically cannot purchase without contingencies, e.g, for inspection and finance.
“REXTAR’s innovative technology solution to real estate buying and selling is accelerating the growth of our technology-enabled service sector,” said Jack Miner, chief investment officer, TEDCO. “This investment in the company has the opportunity to bolster these platform technologies and create a positive lasting effect on Maryland’s future economic development successes.”
TEDCO provides funding, resources and connections that early-stage technology and life sciences companies need to thrive in Maryland. For entrepreneurs interested in applying for TEDCO funding opportunities,visit https://www.tedcomd.com/funding.
About TEDCO
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.
