New Orleans-based tech startup Spectrum Interactive, formerly Tutti Dynamics, announced an investment of $1 million led by venture capitalists Gary and Conway Solomon. The company revealed the news during New Orleans Entrepreneur Week (NOEW), a weeklong festival of entrepreneurship.
The funding will be used to accelerate the company’s growth into new industries, and to continue to build out their expanding team.
When Spectrum first started out, they were not a conventional training program. The company had created an interactive video platform that enables musicians to practice playing with the world’s best artists and share their own recordings with teachers and friends. By 2014, the platform was being used by programs at Jazz at Lincoln Center, Berklee College of Music, Tulane/Music Rising, 500 high schools and at Coursera.
Now, the online training company is a leader in Augmented Video TechnologyTM. They are focusing on helping organizations around the world delivery high-quality, cost-effective training and compliance programs. Whether it’s providing virtual cooking lessons for in-store food demos, or fitness instruction through a video series, Spectrum is now reaching the masses.
“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.”
Conway Solomon will now join the board of Spectrum, along with Gary Solomon, Chairman and CEO at Crescent Bank & Trust.
“Spectrum Interactive has built an easy-to-use online training platform that enables companies to provide their employees with immersive, multi-angle, multilanguage, recordandshare training.” said Conway Solomon. “I’m excited to join the team as the company expands its enterprise business and reshapes training for new industries.”