Posted April 20, 2021
USM Maryland Momentum Fund Invests $250K in TargetDocs, Completing $850K Investment Round
TargetDocs streamlines communication between general contractors and all of their subcontractors, and is led by a University of Maryland, College Park graduate.
College Park, Md. (April 20, 2021)– The University System of Maryland (USM) Momentum Fund has invested $250,000 in TargetDocs, a communication platform for the construction industry that reduces lead times and saves money by collecting, tracking, and labeling all subcontractor project files in one place. The Maryland Momentum Fund (MMF) investment is part of an $850,000 funding round, which includes the Hustle Fund, New Age Capital, Debut Capital, Gaingels, Dingman Center Angels and TEDCO.
“As a former project manager for solar projects, this tool would have been very helpful to manage construction projects,” said Claire Broido Johnson, managing director of the Momentum Fund. “Joe Leiva, the CEO of TargetDocs, has built an impressive tool—he’s a natural entrepreneur and we’re excited to contribute to the growth of TargetDocs.”
After graduating from the A. James Clark School of Engineering at the University of Maryland, Leiva joined his family’s construction business where he saw firsthand the need for a communication management tool tailored to the construction industry. TargetDocs was developed to help connect subcontractors and general contractors through one catch-all workspace, so that files do not fall through the cracks and projects can be kept on time and on budget.
Read the full release from the University System of Maryland.