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April 19, 2011

410Labs: Baltimore startup attracting outside investors

410Labs_Logotype.png
We've seen Dave Troy roll up his sleeves and help coordinate and promote Baltimore's tech scene over the last couple years, helping pull off such events as TedXMidAtlantic and BarCamp Baltimore.

He's also dabbled in politics lately, with a public endorsement of Otis Rolley, who's running for mayor in Baltimore.

But the local entrepreneur, who founded and sold ToadNet, an ISP, is coming on strong this year with a new startup venture. It's called 410Labs. The company is all about building nimble communication tools that make managing your flow of digital information better, whether its with Twitter or email.

A new tool that Troy and his colleagues demo'ed at the Baltimore Startup Weekend event is called Mailstrom, which helps people analyze and manage their email inboxes.

Last week, Troy tweeted that his company was receiving some investments to keep doing its thing. So far, 410Labs is about halfway through a $500,000-plus angel round of investing. And its attracted investors from San Francisco, Baltimore, Washington DC and possibly even New York.

Here's a short Q&A I did with Dave recently:

Q) Who are the principals in 410Labs?

A) David Troy, CEO; Matt Koll, Chairman (sold two companies to AOL). We also have two full-time developers and one part-time employee who have a stake in the company.

Q) What do you build?

A) We're building products that add value to people's lives using technology. So that's pretty broad. Our first product, Replyz, helps people find answers to questions. Our second product, Shortmail, is experimenting with innovations in email, which hasn't seen much innovation in a very long time. We anticipate having about four products in our portfolio by the end of the year.

Q) Why take investment?

A) We're not taking much, and the investments are strategic in nature. We want to build support within our industry, both in San Francisco and here in Baltimore. So it's really more about relationships, but this will also allow us to hire people and move faster than we have been. We also appreciate the vote of confidence and insights that we gain by working with outside investors.

Q) How much currently raised and how much targeted?

A) We are raising $500-$600K in this current round and are about half done. As I said, the investments we have secured so far are firmly in the "Angel" category.

Q) Who are your investors? (Is it Twitter and Living Social, per se, or individual executives from those companies?)

A) I can't speak to it in full before we close the round, but individuals at both Twitter and Living Social have committed to angel investments in the company. It's going to be a nice mix of people in San Francisco, Baltimore, Washington DC, and probably New York.

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About Gus G. Sentementes
Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.
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