GAITHERSBURG, Md.
Aug. 27 /PRNewswire-USNewswire/ -- Lurn Inc. (formerly known as Affiliate Classroom Inc.), a leading provider of e-learning content and technology and a graduate of Mtech's VentureAccelerator Program and Technology Advancement Program (TAP) incubator, was named one of the 500 fastest growing private companies in America by Inc. Magazine.
The company, founded by Hinman CEOs alumnus Anik Singal, placed 216th on the list with a 5-year revenue growth of 950.8%.
In addition to the overall ranking, the company was ranked second in the education industry segment.
"I am proud of our company and everything our team has done to drive this growth and establish long-term, sustainable systems, technologies and plans," says Singal, CEO of Lurn. "This is further proof of our ability to repeatedly create and deliver quality training to our students."
This is the third award for Lurn in the past year. In June, the company was named a Maryland Incubator Company of the Year in the technology services category. In September 2008, Singal was ranked second in BusinessWeek.com's Best U.S. Entrepreneurs 25 and Under.
"It is exciting to see an alumnus achieve national recognition for his innovative venture," says James V. Green, director of the Hinman CEOs Program and associate director of Mtech's entrepreneurship education programs. "Lurn's success is a testament to the hard work of Anik Singal and his colleagues, as well as the portfolio of Mtech programs that help faculty and students develop great ideas into successful technology-based companies."
Singal started the company in 2004 after joining Hinman CEOs, the nation's first living-learning entrepreneurship initiative. He graduated in 2005 and joined VentureAccelerator, which speeds the process of venture creation by systematically guiding and coaching university inventors through new business processes. In May 2006, Singal took first place in the University of Maryland Business Plan Competition in the Young Alumni Category, winning $15,000. In March, 2007, he joined the TAP incubator. Lurn graduated from TAP in spring 2009.
The company is launching a new version of its flagship e-learning product, Affiliate Classroom. The application provides students with training courses on online marketing topics, tools for building and growing an online business, and a community to interact with one another, the company and its network of industry experts.
About Lurn, Inc. (www.Lurn.com)
Formerly known as Affiliate Classroom, privately held Lurn Inc. was established in October 2004 and is a leading provider of e-learning content and technology for interactive marketers. The company's growing e-learning product suite now includes courses, books, live seminars, digital magazines, online communities and applications for online marketers.
About the Hinman CEOs Program (www.hinmanceos.umd.edu)
The nation's first living-learning entrepreneurship program, replicated at 17 universities, Hinman CEOs is a groundbreaking initiative placing entrepreneurially minded students from all technical and non-technical academic disciplines in a unique community. Students live together, learn about entrepreneurship, and can launch new ventures. The mission of Hinman CEOs is to foster an entrepreneurial spirit, create a sense of community and cooperation, and develop ethical leaders. All undergraduates from the University of Maryland, College Park are invited to apply for this competitive program. Brian Hinman, University of Maryland A. James Clark School of Engineering alumnus and successful entrepreneur, provided $2.5 million to initiate and support the Program.
About Mtech's Technology Advancement Program (TAP) (www.tap.umd.edu)
For over 20 years, TAP has helped entrepreneurs build some of the most successful technology companies in the mid-Atlantic region. TAP's staff is comprised of seasoned veterans of startups and venture capital firms who provide business advice and support, market intelligence, introductions, access to funding and other critical assistance that can accelerate the growth of technology ventures. TAP offers furnished offices and flexible lab space as well as a multitude of other benefits and services that can only be found at a technology business incubator situated right on the campus of one of the nation's top public universities, the University of Maryland. TAP was the first technology business incubator in the state of Maryland and is the birthplace of two of Maryland's billion dollar companies: Gaithersburg-based Digene Corporation (now part of Qiagen) and Columbia-based Martek Biosciences.
About Mtech's VentureAccelerator Program (www.va.umd.edu)
VentureAccelerator offers faculty and students hands-on assistance with a range of new business processes, including: sound business planning; understanding of markets or customers; proper alignment and timing of efforts; assistance in establishing management teams; and access to capital financing sources.
