Muzzy Lane Software to grow with $450,000 in financial support from Mass Growth Capital
Support for Newburyport technology company to bolster opportunities
NEWBURYPORT, Mass., April 10, 2015 /PRNewswire/ -- State and Local officials joined together today to highlight the work of Newburyport based Muzzy Lane Software, Inc. and celebrate the award of $450,000 in financial support from Mass Growth Capital Corporation (MGCC). The public officials, including Newburyport Mayor Donna Holaday and State Representative James Kelcourse, all touted the public-private partnership as an example of the state's investment in growing private sector jobs and enhancing small business development.
"Muzzy Lane is a terrific small business success story, rooted in our knowledge based economy," said Representative Kelcourse. "Their success provides local employment opportunities and helps build a stronger regional economy across the Commonwealth."
Founded in 2002, Muzzy Lane is part of Massachusetts' creative economy. The local tech firm's experienced engineers and designers work closely with subject matter experts, integrating learning and practice objectives with engaging gameplay. Their work creating and deploying game-based learning products and the technology to support and deliver them has earned multiple industry awards.
"Digital game-based learning is experiencing massive growth that is expected to continue for years to come," said Muzzy Lane's President & CEO Conall Ryan. "MGCC has recognized this, and their support will bolster our opportunities for continued growth."
MGCC's Larry Andrews/Neil Martin said, "Muzzy Lane is an impressive, well run-company that has earned our support for their continued growth. Small businesses drive the Commonwealth's economy and face a unique set of challenges. As they work to serve their existing clients and fulfill their current projects, they must also seek working capital for future business plans and expansion. Mass Growth is excited to assist with financial support."
MGCC's support will allow the company to accelerate their growth by increasing employment in product development, professional services, and marketing.
Background
About Mass Growth Capital:
MGCC works to create and preserve jobs at Massachusetts small businesses, women and minority owned businesses, and promotes economic development in underserved, Gateway Cities and low and moderate income communities. MGCC is a central state resource that offers working capital, loan guarantees, and targeted technical assistance to solve specific financial and operational problems for local businesses. MGCC works with traditional financial institutions to make challenging loans bankable, working with community development corporations and other non-profits to provide financing for job-producing projects, and assisting a wide range of small businesses find the growth capital they require. MGCC specifically targets manufacturers that are expanding, other growth sectors, and small businesses in our older Gateway Cities. Since inception, MGCC has assisted more than 224 companies with over 7,500 employees with customized working capital financing commitments totaling over $74,600,000. http://massgcc.com
About Muzzy Lane Software:
Muzzy Lane Software is a technology company powering game-based learning in the K-20 education market. The company's technology platform allows products and content to be delivered natively on web and mobile. Muzzy Lane has developed award-winning products with McGraw-Hill Education, Cengage Learning, Pearson Education, and National Geographic. Muzzy Lane was recently awarded a Bill and Melinda Gates Foundation research grant to explore applications of game-based learning in competency-based education. http://muzzylane.com
Contact:
MGCC: Karen Brann, [email protected], 617-337-2819
Muzzy Lane: Chris Parsons, [email protected], 978-394-0319
Photo - http://photos.prnewswire.com/prnh/20150410/197871
SOURCE Muzzy Lane Software
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