Everything was lining up nicely for Sandy Kronenberg when he launched his latest tech startup, Locqus
Kronenberg liked the tech hub under development at the M@dison Block in downtown Detroit, especially the talent that was flocking there. Having worked as either a principal or CTO at Netarx, Yottabyte, and Logicalis, Kronenberg had a few nice exits under his belt. He also knew he had enough cash to get Locqus off the ground.
"I wasn't looking for outside capital at all," Kronenberg says.
In fact he had turned down funding offers from local venture capitalists. They were only bringing money to the table. Then Moneris
came calling and it was too hard to say no to one of the largest electronic payments firms in North America.
"They do 40 percent of all digital transactions in Canada," Kronenberg says. "It's kind of a big deal."
Locqus is developing Field Manage
, a mobile app that helps small businesses in the service industry (think skilled trades people or mom-and-pop ventures) handle the back end of the business. The app manages time clocks, scheduling, inventory, etc, and it synchronizes many aspects of the business between employees on everyone’s personal mobile device or computer.
"At the end of the day we're a mobile solution for the service industry," Kronenberg says.
Locqus has also formed a strategic partnership with Samsung, which will recommend Locqus as an must-have app with some of its mobile devices. That effort will work hand in hand with the $2 million is has raised.
"For the most part it (the $2 million) is for hiring more folks and raising awareness through marketing," Kronenberg says.
Locqus has expanded its staff to 16 employees and an intern since it launched last year. The company is also looking to hired four more people in software development or customer service. Kronenberg expects the employee count to be closing in at 25 people by the end of the year.
For now the staff is working at the co-working space of Bizdom at 1528 Woodward. Kronenberg expects he will move Locqus into its own space within the next few months, but he is trying to maintain his startup’s presence in Bizdom's home for as long as he can.
"We're going to hold out as long as we can because it's a great group of people," Kronenberg says. "It's a collaborative environment. It's a great culture. It's a natural fit."
Source: Sandy Kronenberg, CEO of Locqus
Writer: Jon Zemke