Kelowna’s HuStream announced today that they have secured $125,000 in growth capital from Community Futures. HuStream will use the funds to expand operations and establish their presence as the dominant market leaders for Interactive Video.
”We have a fairly aggressive growth strategy planned for the next 12 months,” says Peter Matejcek, cofounder and CEO of HuStream. “This funding is an essential piece to ensure we hire the right people to hit our goals.”
HuStream plans growth and hiring in two key areas—sales and marketing—with strategies for both departments aimed at pure revenue generation and accelerating HuStream’s industry presence.
“The market for our innovative Interactive Video product has firmed up, and with 90 clients and five years of operations under our belt we have the opportunity to be the dominant player in our industry,” adds Matejcek.
In July of 2013, the Loan and Investment Review Committee for Community Futures voted unanimously in support of the funding.
“HuStream has smartly positioned itself for substantial growth,” says Scott Carlson, a business analyst for Community Futures. “Its contagiously passionate management team impressed us with their thoughtful business strategy and eye for detail. It was an easy decision for us to assist with financing to help accelerate their growth.”