Greentech Media Raises $2.75M Series B Capital as Market for Green Technologies Accelerates

Business Wire,  May 13, 2008  

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Michael Kanellos, Veteran CNET Green Technology Editor, Joins Greentech Media

CAMBRIDGE, Mass. -- Greentech Media, Inc., the industry leading online media company covering green technology news and analysis today announced that it has raised $2.75M in Series B financing. New investors EGORA Holding and The Massachusetts Green Energy Fund co-led the round. Existing investors Lightspeed Venture Partners and Northport Private Equity also participated, along with King Hill Capital a new investor as part of the Series B round.

"The greentech industry has needed a dedicated news and research outlet focused on market development and trends that can help separate the fact from the fiction, the reality from the hype," said Nikolaus Zwick, Partner and Managing Director of EGORA Holding. "Greentech Media's coverage of the market has been intelligent, insightful and a welcome voice in the ongoing greentech debate."

Greentech Media will use the funds to expand its team, increase focused coverage on key greentech markets, grow its product offering and scale its sales efforts domestically and internationally. "In under a year we have quickly become the go-to source for information on green technology trends," said Scott Clavenna, President and CEO of Greentech Media. "We're at the start of an exciting transformation in the industry, where green technology trends have become part of the social consciousness, presenting real opportunity for growth, value creation and environmental change."

In conjunction with the funding and corporate growth strategy, Michael Kanellos joins Greentech Media as senior analyst. A veteran CNET editor known for his coverage of green technology, Michael will significantly add to the breadth and depth of content and analysis provided by Greentech Media.

"As an active investor in the greentech space, it became apparent to us that the need for independent and reputable research, news and events is growing rapidly," said Jay Fiske, Partner at The Massachusetts Green Energy Fund. "Greentech Media has captured this opportunity and built a robust, information rich online platform that anyone, at any level, in the greentech community needs to bookmark as one of their favorites."

About Greentech Media

Greentech Media is an integrated online media company designed to deliver the highest-quality content in the greentech industry, whether it is research, news or critical networking events. Greentech Media is headquartered in Cambridge, Mass., New England's educational- and technology-innovation center, with operations in New York City and San Francisco. For more information, visit http://www.greentechmedia.com.

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