Spectrum Interactive Receives $1million Investment in Venture Round
Online Training Startup Spectrum Interactive Receives $1million Investment in Venture Round
Investment Will Help Online Training Company Accelerate Growth Into New Industries.
We are delighted that Spectrum Interactive today announced an investment of $1 million led by venture capitalists Gary and Conway Solomon. Making the announcement at the end of New Orleans Entrepreneur Week, the financing will be used to accelerate Spectrum’s growth into new industries, and to continue to build the world-class team that supports those efforts.
As the leader in Augmented Video Technology™, Spectrum Interactive creates immersive learning experiences that help some of the world’s leading organizations quickly deliver high quality, cost effective training and compliance programs. With this investment, the company plans to further expand into providing turnkey online training for the restaurant, hospitality, retail, fitness and medical industries. It also plans to grow its customer base in music and arts following strong sales of its audio training product, which is used by artists to turn their albums into interactive mobile apps.
With the investment, Conway Solomon joins the board, along with Gary Solomon, Chairman and CEO at Crescent Bank & Trust.
“This investment is a tremendous vote of confidence in Spectrum Interactive’s ability to help organizations nurture talent, build skills and ultimately, transform their people” said Kristen McEntyre, CEO of Spectrum Interactive. “We are thrilled also to have Gary and Conway Solomon join our board and look forward to drawing on their operational expertise with franchises to build on the success of Spectrum and to help grow the company.”
“Spectrum Interactive has built an easy to use online training platform that enables companies to provide their employees with immersive, multi-angle, multi-language, record and share training.” said Conway Solomon. “I’m excited to join the team as the company expands its enterprise business and reshapes training for new industries.”
Speaking as news of the investment broke at New Orleans Entrepreneur Week, Spectrum Interactive’s CEO Kristen McEntyre said: “When we first started out, we said we were not a conventional online training company. We’ve built a growing business by focusing on the challenges many organizations have today in training a workforce that is increasing millennial, multilingual, geographically dispersed and tech savvy.”
About Spectrum Interactive
Spectrum Interactive is revolutionizing online video training for business. Companies use Spectrum’s easy to use platform to give their learners immersive, multi-angle, multi-language, record and share training. The result is an award-inning intuitive online training that transforms traditional video into an engaging “lean forward” experience. Spectrum’s video solutions and instructional design services enable companies to efficiently create attractive training content. Digital checklists, surveys and quizzes seamlessly integrate compliance with training. Spectrum’s analytics allow managers and trainers to immediately track progress, comprehension, compliance and engagement. Today some of the world’s top organizations choose Spectrum to help them nurture talent, build skills and ultimately, transform their people.
About New Orleans Entrepreneur Week
NOEW is a dynamic eight day business festival that engages New Orleans’ entrepreneurial community in discussion, debate, education, competition, and celebration designed to support new ideas and elevate entrepreneurial thinking on Fulton Street in downtown New Orleans from March 11-18, 2016.
About The Idea Village
The Idea Village is an independent 501(c) 3 nonprofit organization based in New Orleans that provides direct service to high impact entrepreneurs, convenes the ecosystem through New Orleans Entrepreneur Week (NOEW), and supports initiatives that strengthen the city’s entrepreneurial infrastructure. The IV 100, a group of forward thinking corporations, foundations and individuals committed to New Orleans’ future, funds the Idea Village.