Motionsoft Set To Expand with Fresh Funding
advertisement
Interact With Us
Best of 2011
Top Stories of 2011
The most popular stories of 2011. Did your favorites make our list?
Resource Center
Buyers Guide
Find industry businesses by product or service categories, view company profiles and more.
Club Industry Trade Show
Club Industry Show and Conference, held each October, is the premier event for fitness and wellness professionals. Find out more about Exhibitors, Events, and Education.
Industry Events & Trade Shows
The industry-wide calendar features listings for educational events, trade shows and more.
Classifieds
View classified ads for health club equipment and services, plus business opportunities and job postings.
Current Issue
Read stories from the latest print issue of Club Industry magazine.
Club info and News
Read news about some of the biggest names in the industry.
- 24 Hour Fitness
- Anytime Fitness
- Bally Total Fitness
- Crunch Fitness
- Club One
- Curves
- Equinox
- Gold's Gym
- Health Fitness Corp.
- LA Fitness
- Life Time Fitness
- Lifestyle Family Fitness
- Planet Fitness
- Plus One Management
- Powerhouse Gyms
- Snap Fitness
- Spectrum Athletic Clubs
- Sport & Health
- Town Sports International
- Sports Club Co.
- Urban Active
- Wellbridge
- Western Athletic Clubs
- World Gym
E-Newsletter Signup
Breaking news on the industry, people on the move, mergers and acquisitions and much more. Delivered weekly.
SILVER SPRING, MD — Motionsoft Inc. not only made Inc.'s 5,000 list last month, but the growth that put it on the list also helped it get some additional funding. The company says it will put that funding toward expanding sales, marketing and development.
Motionsoft, Silver Spring, MD, received a $5.5 million investment from Edison Venture Fund, Lawrenceville, NJ, last month.
“Motionsoft achieved impressive growth and repeated customer renewals,” Tom Vander Schaaff, vice president of analysis with Edison Venture, said in a release from the company.
Al Noshirvani, CEO of Motionsoft, added, “Edison's strategic counsel, growth experience and value-added resources will be instrumental to our success as we continue our expansion.”
As part of the deal, Gary Golding, general partner at Edison Venture Fund, and George Pappas, vice president of sales and marketing for Edison's portfolio company, Presidium, joined Motionsoft's board of directors.
Rumors that Noshirvani and his brother, Hossein Noshirvani, co-founder and executive vice president of Motionsoft, might sell the company can now be put to rest, Hossein Noshirvani wrote on the company's blog.
Want to use this article? Click here for options!
© 2012 Penton Media Inc.











Acceptable Use Policy blog comments powered by Disqus