HBR Labs scores $2M in capital, expands Farmington Hills office

HBR Labs is using its millions in newly found seed capital to ready a product launch and expand its Farmington Hills office.The 3-year-old Internet company raised $2 million from private equity investors. That money will mostly go toward the commercialization of its two new multi-media products: ShowDocument and VeriShow. Both are set to launch next year.ShowDocument is designed for individual users and small businesses to share documents and use whiteboards on the Internet. VeriShow’s tool kit aims to improve web-based sales, service, and training, including integrated text, voice, video, document sharing and co-editing, joint form completion and electronic signature, interactive white boards, and more. For example, a sales representative can use the technology to show off a 3-dimensional model of a product to potential customers.The launch of these two products should allow the 10-person company to expand its Metro Detroit office. It conducts research and development at its Israel office and handles sales and marketing in Farmington Hills. Yuval Moed, CEO and president of HBR Labs, plans to hire a few more people next year. The former MBA student at the University of Michigan is married to a Huntington Woods native.”I felt there was an opportunity here,” Moed says. “There is a lot of manpower and brainpower here.”Source: Yuval Moed, CEO and president of HBR LabsWriter: Jon ZemkeRead more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.