July 15, 2009
VC Firms, Originate Ventures and Osage Partners Invest $2.5 Million in Series A Funding for ProtonMedia
Based in Lansdale, Pennsylvania, ProtonMedia announced today that it had completed the raising of $2.5 million in series A funding from Originate Ventures and Osage Partners. Proceeds from this funding will go to help the company expand its sales and marketing forces.
Founded in 2006, ProtonMedia is a company that helps businesses overcome limitations of online collaboration tools available to team people up over the internet. The main product that ProtonMedia uses to do this is the ProtoSphere, which is a social network that provides a good business environment that allows businesses to collaborate with their teams effectively and efficiently. ProtoSphere is actually a second-generation collaboration tool that allows for effective teaming. The clientele of ProtonMedia are mainly companies in the pharmaceutical and energy industries. Some of the companies that are already using ProtonMedia’s services with its ProtoSphere platform include AstraZenica, Comcast, Johnson & Johnson, BP, Chevron, and others.
The benefits experienced by ProtonMedia’s customers by using the ProtoSphere platform are that they can have a virtual meeting online that are more engaging and immersive than the different telecommuting or web-based conferencing services available today. Furthermore, the ProtoSphere platform allows for those who need to bare subject matter to other company officials to be able to do it from their offices or homes, eliminating the need for burdensome and tiresome travel. The highly graphic interfaces of the ProtoSphere platform can allow for vivid presentations and allow for a more effective transfer of knowledge to all of the meeting participants.
According to Ron Burns, CEO and founder of ProtonMedia; despite of the tough economic times, the company’s pipeline, growth, and profitability were what was the most crucial to attracting investors to ProtonMedia. Mr. Burns also stated that he was pleased that both Originate Ventures and Osage Partners were willing to provide this round of funding in these uncertain financial times that we find ourselves in today.
One of the reasons that ProtonMedia’s ProtoSphere platform is so popular with the business community is that the graphics are absolutely amazing. Some of the graphics that the ProtoSphere incorporates in the virtual meeting include holograms, interactive avatars and bots, voIP sound, and document and file sharing capabilities to name a few.
Originate Ventures is a Pennsylvania based vc firm that focuses on early stage companies in the services industry and are located within the state of Pennsylvania. Originate Ventures also invests in companies who are in the healthcare, consumer, software, and IT industries. Some other companies in Originate’s portfolio include Adhezion Biomedical, SouthSolutions, NayaTec, and others.
Based in Bala Cynwid, Pennsylvania, Osage Capital is a vc firm that is a prominent provider of venture capital and private equity to entrepreneurs in the Mid-Atlantic region. Along with the necessary capital, the vc firm also brings board experience to diligent entrepreneurs who want to build successful companies. Some other companies in Osage Capital’s portfolio include HardMetrics, Instamed, Landslide, Moda, and others.
For more information about ProtonMedia, click here.