Greentech Media Refreshes Its Venture Coffers
Regulatory documents filed yesterday show that Cambridge, MA-based Greentech Media, which covers cleantech innovation through an online news site, market research, and events, has collected $825,000 of a planned $1.25 million equity funding round.
Contacted by Xconomy, Greentech Media’s president and CEO Scott Clavenna says the money is an extension of the $2.75 million Series B round that the company raised in 2008, and comes from the same investors, including EGORA Holding and the Massachusetts Green Energy Fund.
The funding round is “really meant to shore up the plan for 2010,” Clavenna said in an e-mail note. “The summer has been good to us: traffic has doubled since the relaunch of the website in May, new Grid and Enterprise businesses [are] expanding our reach and customer base (grid event at PG&E HQ in San Francisco, Wal-Mart workshop here in Boston in September, etc.) and we have grand ambitions for next year, so there was consensus to expand the balance sheet a bit to make sure we were in a position to take any steps we needed to keep building.”