EETimes: NewsGator Secures $12M in Venture Capital Funding and Adds Lisa Reeves to Its Board of Directors

" 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. "