USM Maryland Momentum Fund Invests $250,000 in Qualytics
Baltimore, Md. (April 26, 2021)– The University System of Maryland (USM) Momentum Fund (MMF) has invested $250,000 in Qualytics Inc., a data quality company that offers the Qualytics Data Firewall, a platform that monitors data with real-time surveillance. Qualytics uses advanced data operations and machine learning to enable governance, auditing, and data security by detecting data quality anomalies in real-time and preventing bad data from entering downstream systems. The MMF investment is part of Qualytics’ seed round which includes Inner Loop Capital, The LegalTech Fund, TCP Venture Capital, Saas Ventures, and Gaingels, among other early stage and angel investors.
“We all use data every day. There are a lot of companies handing data infrastructure, but Qualytics is focused on a critical gap -- data integrity. This team has had multiple successes before, and we are excited to see where Qualytics goes next,” said Claire Broido Johnson, Managing Director of the Maryland Momentum Fund.
Qualytics was founded by Gorkem Sevinc (Co-founder of Facet Wealth and emocha Health) and Dan Roche (Founder of Rapid System Solutions & Condor Technology Solutions, CEO/Owner of e.magination, Director of Agile Network Builders and emocha Health) in April of 2020. Qualytics is a tenant at the bwtech@UMBC Research & Technology Park at the University of Maryland, Baltimore County (UMBC).
"Qualytics’ platform identifies and immobilizes the “needle in the haystack” that can shut down a supply chain or skew business intelligence and cause millions of dollars of damage. UMBC is proud to support Qualytics,” said Greg Simmons, Vice President for Institutional Advancement at UMBC.
Unique from others in the industry, The Qualytics Data Firewall performs data surveillance while data is in motion. Crucial to determining data quality, Qualytics focuses on the Qualytics 8: data completeness, accuracy, coverage, duplication, consistency, conformity, timeliness and volumetrics. This thorough review process gives organizations that use multiple sources of data— such as customer data platforms, vendor data, and health records— confidence in the quality of their data.
“Qualytics is at the forefront of an extraordinarily large market opportunity with a simple yet elegant solution. People will be saying why didn’t I think of that in a few years,” said Chris College, Managing Partner of TCP Venture Capital.
By addressing data integrity, Qualytics allows organizations across the globe to rely on their data for improved data-driven insight. “Every organization’s reliance on data for critical decision making is growing exponentially, while the quality of that data continues to remain stagnant. Qualytics was formed to create the confidence you need in your data to make critical, data-driven decisions,” said Sevinc.
The USM Maryland Momentum Fund provides investment for promising technology ventures born out of USM’s 12 institutions. The Momentum Fund helps early stage companies move beyond grant funding andearly stage seed investorsto position themselves for commercial launch or to reinforce commercialization at the early revenue stage. The Momentum Fund is continuing to invest in companies affiliated with the USM despite the COVID-19 pandemic and encourages applications through the Fund website at https://momentum.usmd.edu/.
About the USM Momentum Fund
The Maryland Momentum Fund is an initiative of the University System of Maryland (USM) to provide late seed investment funding for promising technology ventures that come out of any of the 12 constituent USM institutions, its research parks, and its students, faculty, or graduates. With a $10M commitment from the USM already in place, the Fund co-invests with venture capitalists, foundations, and angel investors.
The Maryland Momentum Fund was established by the USM Board of Regents to support promising commercial opportunities arising from advances in research and intellectual property at USM campuses, and its portfolio companies include: MF Fire, NextStep Robotics, the North American Wave Engine Corporation, Zest Tea, PaverGuide, Retrium, Veralox Therapeutics, Gemstone Biotherapeutics, Neoprogen, Minnowtech, ARMR Systems, Infercabuary, Datakwip, pathOtrak, KaloCyte, MiRecule, N5 Sensors, VisiSonics, Voxy EngGen, Dynamhex, TargetDocs, and Qualytics. The Fund is designed to create returns and support USM’s most innovative ideas as they enter the marketplace. Learn more at https://momentum.usmd.edu/.
About Qualytics
Qualytics is a data monitoring platform that improves the quality of enterprise decision making by using real-time data surveillance. It is a cloud-native, integrated platform that deploys seamlessly to any public cloud. Qualytics connects to your databases, warehouses, and source systems, proactively improving data quality through anomaly detection, signaling and workflow.
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Contact – Qualytics, Inc
Lauren Prezby, Director of Marketing
Phone: 910.465.9820
Email: lauren@qualytics.co
Contact: Mike Lurie
Phone: 301.445.2719
Email: mlurie@usmd.edu
