NewsGator Secures $12M in Venture Capital Funding and Adds Lisa Reeves to Its Board of Directors
Capital Will Be Used to Expand NewsGator's Success in Providing Enterprise 2.0 Solutions to Fortune 2000 Businesses and Media Companies
| Source: NewsGator
DENVER, CO--(Marketwire - December 13, 2007) -
NewsGator Technologies, Inc., a pioneer in RSS and Enterprise
2.0, announced today that it has closed a $12 million round of funding.
Led by new investor Vista Ventures, the round also includes existing
investors -- Mobius Venture Capital and Masthead Venture Partners.
NewsGator also announced the addition of Lisa Reeves, a general partner at
Vista Ventures, to its Board of Directors.
"We are delighted to partner with Vista and we appreciate the continued
support from Mobius Venture Capital and Masthead," said J.B. Holston,
president and CEO of NewsGator. "We also welcome the addition of Lisa
Reeves to our Board of Directors. Ms. Reeves has 15 years of experience
at SAP AG, including managing its venture fund, as well as senior
operational roles both in the U.S. and Europe. Lisa's unique enterprise
software and venture investing expertise will be invaluable as NewsGator
continues to lead the Enterprise 2.0 market."
"NewsGator is the most exciting late stage deal in Colorado," stated Lisa
Reeves. "I look forward to serving on NewsGator's Board of Directors and
leveraging my enterprise software experience from SAP to help foster
NewsGator's revenue growth."
NewsGator provides an enterprise-class RSS platform and supporting RSS
applications that help individuals and businesses improve the way they find
information and communicate. Using NewsGator products and solutions,
businesses and consumers can subscribe to news, information, podcasts and
other relevant content more efficiently and effectively than with
traditional channels. Since launching its
enterprise RSS strategy in
mid-2005, NewsGator has become the leading provider of RSS products to
Fortune 2000 businesses and media companies.
Brad Feld, managing director of Mobius Venture Capital, stated, "It is
exciting to be involved with the market leader for enterprise RSS software. NewsGator's Enterprise Server has been implemented
at over 100 Fortune 2000 companies. This financing round will enable
NewsGator to continue its aggressive expansion within the enterprise RSS
market."
Richard Levandov, general partner of Masthead, added, "Masthead is pleased
to invest additional funds in NewsGator given the company's achievements
within the
enterprise RSS and media markets. NewsGator's
Widget Framework has been adopted by over 50 of the world's largest
media companies, online publishers, and advertising agencies including
Cablevision Systems Corporation, Macmillan, The Miami Herald, and San Jose
Mercury News."
The continued support of Mobius and Masthead, along with new investment
from Vista, provides NewsGator with the resources to expand its global
sales and marketing efforts.
About NewsGator Technologies
NewsGator Technologies is the world's leading enterprise 2.0 and RSS
company. Headquartered in Denver, Colo., NewsGator develops and markets RSS
aggregation solutions for individual end users, enterprises and online
content providers. Using NewsGator products and solutions, businesses and
consumers can subscribe to news, information, podcasts and other relevant
content more efficiently and effectively than with traditional channels.
With NewsGator, users have access to RSS information via the Web, Microsoft
Outlook, mobile devices and both Windows- and Mac-based desktop clients.
All NewsGator products synchronize seamlessly, enabling users to read their
RSS feeds anywhere, anytime, with any device. For more information, visit
www.newsgator.com.
About Masthead Venture Partners
Headquartered in Cambridge, Mass., Masthead Venture Partners is a venture
capital firm dedicated to providing early stage information technology,
Internet infrastructure and services, communications, and IT-intensive life
sciences companies with the capital and hands-on operational support they
need to develop into industry leaders. The firm has the advanced technical
expertise, proven operating experience and deep industry knowledge and
relationships to help entrepreneurs build companies with category defining
potential. For more information please visit www.mvpartners.com.
About Mobius Venture Capital
Based in Boulder, Colorado, Mobius Venture Capital is a $1.5 billion
U.S.-based venture capital firm. For more information please visit
www.mobiusvc.com.
About Vista Ventures
Focusing primarily on investments in the Rocky Mountain region, Vista
invests in early stage companies in the networking, digital media and
software sectors. More information can be found at www.vistavc.com.