Investors include True Ventures, 500 Startups and an All-Star Cast of Area Entrepreneurs
Baltimore, MD (July 11, 2011)— 410 Labs, a Baltimore-based lean product studio founded by Dave Troy and Matt Koll, announced today that it has closed its first round of external funding. Backing for the company comes from an impressive list of bi-coastal venture capital firms and successful entrepreneurs.
410 Labs recently saw the public launch of Shortmail go viral and become a trending topic on Twitter in four different countries. Garnering national and international coverage in publications such as Fast Company, The Telegraph and The Times of India, Shortmail continues to explode onto the tech scene as an effective tool to help make email more efficient. Shortmail received more than 10,000 user registrations in the first week of its launch.
The company’s first product, Replyz, is a unique question and answer service that taps into the Twitter stream to make it easier for people to seek out and interact with helpful people.
“With the successful launch of our first products, we thought it was the right time to expand our base of support,” said Dave Troy, CEO of 410 Labs. “And we’ve been successful at gaining the support of an outstanding group of firms and individuals. These folks have a great track record; they know our industry well. We’re already benefiting from their advice.”
The Series A funding includes:
- True Ventures, a leading early-stage venture capital firm, with offices in Palo Alto, San Francisco and Great Falls, VA
- 500 Startups, Dave McClure’s cutting-edge seed fund based in Mountain View, CA
- Fortify.vc, a seed and early stage venture capital fund based in the Metro DC area
- The Maryland Venture Fund
In addition, 410 Labs received support from a stellar group of entrepreneurs including:
- Tim O’Shaughnessy, CEO and Co-founder, LivingSocial
- Abdur Chowdhury, Chief Scientist, Twitter; Co-founder, Summize
- Jeff Ganek, Founder and former CEO, Neustar
- Mark Walsh, CEO and Co-founder, Genius Rocket
- Tom Loveland, CEO and Founder, Mind Over Machines
- Greg Cangialosi, CEO and Founder, Blue Sky Factory
- Paul Silber, CEO, In Vitro Technologies; Founding Member, Blu Venture Investors
“410 Labs combines the visionary talent of a world class team with a solid understanding of what Web 2.0 users want today and a clear vision for the future,” says John Burke of True Ventures. “The overwhelming response of Shortmail during its launch proves the need for the tools 410 Labs is producing. We are thrilled to be part of the team and look forward to the future with 410 Labs.’”
Investor Mark Walsh says, “I think of 410 Labs as the ‘conciseness company.’ Focused on simplicity and efficiency, their products bring a whole new meaning to effective communication.” Walsh adds, “The team is filled with true innovators…people that can help shape the next generation of online interaction.”
The Series A funding will support 410 Labs’ mission of developing tools that improve communication and provide easier access to information.
About 410 Labs
410 Labs, ‘the conciseness company,’ is a lean product studio that makes socially productive communication tools for web and mobile platforms. It was founded in 2010 by successful serial entrepreneurs Dave Troy and Matt Koll. Its first two products are Replyz and Shortmail. 410 Labs is based in Baltimore, MD, and is hiring.
410 Labs CEO Dave Troy is available for interview, and print and web-quality screenshots of Shortmail or Replyz are available. A select group of investors are also available for comment. Contact Luke Gibson at 410-937-6493 or firstname.lastname@example.org to request an interview or to obtain images.