A Serial Entrepreneur and $3M
Edtech firm Tech 2000 has been developing three new products in Herndon over the last year that have attracted large corporate customers and now some funding.
![Placeholder](https://cdn.bisnow.net/assets/website/placeholder.png)
The company raised $3M from a debt and stock offering and will use it to expand two of its new products and launch a third, says founder Tien Wong, here with EverFi CEO Tom Davidson. Appnetic, Tech 2000’s mobile app launched last year, gives sales people information about a product or service that they're trying to sell. It could be anything from videos to white papers to special financing they can offer. The company has already invested $1.5M in the product and scooped up customers like HP, Cisco and ShoreTel. Tien says the company will release a self-serve version of the product, which is now a managed offering.
![Placeholder](https://cdn.bisnow.net/assets/website/placeholder.png)
The company also recently launched Lumious, a learning analytics platform that corporate training and HR departments use to track how well employees are absorbing job training. Companies get real-time analytics on how well employees are scoring. The analytics also give clues on how well certain personality traits do in certain roles. The company is developing a third product called Learn Pulse, which gauges sentiment during a class or training session. Analytics are sent to a teacher’s iPad during the instruction on whether the class is keeping up or falling behind.
![Placeholder](https://cdn.bisnow.net/assets/website/placeholder.png)
Tien says the company will focus on the three products for now and get annual growth to 30%. The DC tech veteran, who also runs Lore Systems and the wildly popular Connectpreneur event, says there’s still a lot of energy around the local tech economy. Now the community is seeing more experienced entrepreneurs starting second and third companies. The challenge is still a Series A funding gap, but he says good entrepreneurs are persevering with minimal cash.