BALTIMORE, MD (July 29, 2013) – Governor Martin O’Malley today announced that two Maryland tech companies received investments totaling $350,000 through the State’s InvestMaryland program, which was created by Governor O’Malley and the General Assembly to make venture capital investments in promising Maryland startups in high-tech, high-growth fields. The State invested $200,000 in SocialToaster, a Baltimore firm specializing in social media and customer engagement, has been approved for a $200,000 investment and $150,000 in ReelGenie, a new online service based in Silver Spring that creates high-quality videos from a customer’s photos and digital media.
“Supporting our entrepreneurs, startups and small businesses is a top priority for Maryland as we grow our Innovation Economy. Our high-tech entrepreneurs place Maryland at the forefront of innovation and discovery,” said Governor O’Malley. “We’re pleased to make these investments in ReelGenie and SocialToaster, as well as the many others that have benefited from the InvestMaryland program, and we look forward to their future growth and success in our State.”