Capture Education tripling users, adding jobs in New Albany
Cloud-based software maker Capture Education has added 10 jobs since last summer and aims to hit its hiring pledge under a 2014 state loan in half the allotted time.
“We’ve been doubling our revenue and number of student users every year,” founder and CEO Mike Neubig said. “For 2015, it looks like it’s going to triple.”
I talked to Neubig for a story in Friday’s Columbus Business First on how the private investment arm of Dublin IT staffing firm Fast Switch Ltd. is trying to fill a gaping hole in available capital for startups at the earliest stages. It was the first investor in what was then Capture Educational Services Inc., just as it was shifting from consulting to selling its software.
The New Albany company’s subscription software helps school districts better track progress toward high school graduation and optimize course schedules. It had 250,000 student users in 2014 and is on track for 850,000 in 13 states by year’s end. The company does not release revenue figures.
Last year Capture Education raised $1.2 million from investors, plus a $700,000 state loan. Then at nine employees, its goal was to add 18 jobs over three years. It could hit that in early 2016, Neubig said. Fast Switch’s investment was important to landing those deals, he said.
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