LEID Products received a $250,000 investment from the Michigan Pre-Seed Capital Fund in June, allowing the tech start-up to begin hiring as it prepares to ramp up sales over the next year.
The Auburn Hills-based company manufactures electronic locker and information management systems for every industry from military to medical to law enforcement facilities. “It eliminates the old paper-and-pen method,” says Sam Hoff, president of LEID Products. “It frees up department personnel to do more police work and less administrative work.”
The manufacturer has sold 20 of these systems so far, allowing it to pass the $1-million revenue mark since launching in 2006. It plans to expand exponentially over the next year by focusing the Michigan Pre-Seed Capital Fund’s cash toward making the product more visible in the marketplace.
“We’re going to be bringing some more sales and marketing resources in, starting with one new sales rep,” Hoff says. That would raise LEID Products’ headcount to five employees and two independent contractors. More hires will also be in line in the not too distant future.
by Joe Zemke, Metromode