Cloud-based news platform SendtoNews.com announced that it has closed $1 million in financing from angel investors led by Elton, Adrian and Myron Pereira and Don Wharton, co-founders at ParetoLogic Inc.
The funds will be used to accelerate North American expansion out of SendtoNews’ offices in Victoria, San Francisco and New York.
CEO Greg Bobolo said, “This round of angel financing will allow us to grow our team, aggressively increase our sales and marketing efforts into the sports event marketing and advertising industries, and continue to innovate and scale our technology to keep pace with the rapid adoption of our cloud-based news distribution platform.”
SendtoNews launched its platform at the Vancouver 2010 Olympics where more than 1,450 reporters used the company’s platform to send video to their home networks in more than 200 countries.
The company was recently named top Western Canadian startup in Foreign Affairs and International Trade Canada’s Technology Growth Initiative competition.
This success drew the attention of Elton Pereira, a Victoria-based entrepreneur who co-founded security and utility software company ParetoLogic.
“I recognized this as an exceptional investment opportunity,” said Pereira.
“SendtoNews.com is well positioned in the high-growth space of cloud-based news distribution and has paired a transformational technology with a management team that has an exceptional knowledge of the news industry.”
Jennifer Harrison
@JHarrisonBIV