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Apptegy Startup Gets $5.7 Million Infusion
June 23, 2017
Apptegy, the Little Rock-based technology startup company, received a $5.7 million investment from Five Elms Capital of Kansas City this year. The company plans on leveraging this investment with a goal of tripling sales from 2016 to 2017.
The funding will be used for sales and marketing efforts focused on their platform called Thrillshare, a digital content sharing framework used in hundreds of K-12 schools in 38 states. Thrillshare allows a school district’s teachers and staff to, through a mobile app, distribute information through all of their channels – email, website, mobile app and social media pages. Their mission is simple: helping schools build better connections with their communities by using the best technology available.
Apptegy is just one of the many business expansions in Arkansas, and it’s easy to see why. With startup business grants and incentives, Arkansas is quickly becoming one of the top business-friendly states in the nation.
Tech Startups Find Success in Small Markets
Apptegy previously raised $1 million from angel investors in Arkansas, and qualified for the state’s Equity Investment Tax Credit program in 2015 and 2017. This discretionary incentive is targeted toward new, technology-based businesses paying wages in excess of the state or county average wage. The program allows an approved business to offer an income tax credit to investors purchasing an equity investment in the business. The income tax credit issued under the program is equal to 33.3 percent of the investment.
Apptegy CEO Jeston George praised the state’s help and said that, while getting a startup off the ground can be difficult, the Little Rock area offers a place where those who are able to put their good ideas into action the opportunity to be a “big fish in a small pond.”
The company now has enrolled more than 260 public schools in 38 states, about 1,200 schools. In Arkansas alone, it’s working with 50 public school districts. Apptegy is a homegrown Arkansas company led by Arkansans and funded by Arkansans, making a global impact in the world of digital content distribution in the education system.
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