Rochester Startup Firm Receives Another City Loan
Rochester, MN (KROC AM News) - The Rochester City Council has approved a $250,000 loan for a startup technology company that has made huge strides since it began operations 4 years ago.
The GoRout company sells hardware/software equipment to football teams that is used to enhance practice sessions.
The company has sold devices to 150 schools so far. Most customers are high schools but GoRout has also sold the devices to the NFL and college teams, including several in the Big Ten. CEO Mike Rolih says he can’t identify the schools because of confidentiality agreements. Rolih says his company is the only one in the market offering the devices.
GoRout has seen revenues climb from just $30,000 in 2015 to over $500,000 this year. It has a payroll of four full time, one part-time and 11 seasonal employees. Up to three more employees are expected to be added this year.
The loan was processed through the RAEDI organization. GoRout repaid an earlier loan of $75,000 in one year.
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