Motionsoft, a Silver Spring, MD-based provider of membership management software and billing solutions to the health and wellness industry, received a $5.5m investment from Edison Venture Fund.
The proceeds will will be used to expand the company’s sales, marketing and development activities.
Motionsoft designs member, facility and business management solutions for the health and wellness industry including commercial gyms, corporate and hospital wellness centers, universities, and hotels.
Commentin on the investment, Al Noshirvani, CEO, Motionsoft, said: “Edison’s strategic counsel, growth experience and value-added resources will be instrumental to our success as we continue our expansion.
“Their investment and support will enable us to carry out our vision for innovating technologies in both the health and wellness field, and beyond”, he added.
Gary Golding, General Partner at Edison, and George Pappas, Edison Director Network Member, will join Motionsoft’s Board of Directors.
FinSMEs
19/10/2010