Rawporter announces $300k in seed financing from two NC-based funds
Posted on 24 Sep 2012 by Justin Ruckman
Is it more interesting that local startup Rawporter just received $300k in funding, or that the investment represents the inaugural ventures for both funds involved: IMAF Cape Fear, and the NC Fund of Funds?
Press release below:
Charlotte, NC, September 24, 2012 – Rawporter, a new service that protects, promotes, and sells photos and videos shared online, announced today that it has raised $300,000 in seed financing. This the 1st investment by the newly formed IMAF (Inception Micro Angel Fund) Cape Fear and the N.C. Fund of Funds with additional participation by Gofman Holdings. Rawporter will use the capital to grow its online community and enhance its mobile applications.
Rawporter is the 1st investment by the newly formed IMAF Cape Fear seed stage angel capital fund and sets the stage for future startup funding.
“We formed IMAF Cape Fear to invest in emerging technology businesses. Rawporter is an exciting way for us to take advantage of the photo and video-sharing momentum. Additionally, our expertise in Mobile and eCommerce will better prepare Rawporter for success,” said Dallas Romanowski, Fund Director at IMAF Cape Fear.
Rawporter is also the 1st investment by the N.C. Fund of Funds program, a component of the N.C. Small Business Credit Initiative, which was created through federal funding under the Small Business Jobs Act.
“We will be investing in early stage North Carolina companies, like Rawporter, with the potential for exceptional job growth. Our financial support will lead to exciting employment opportunities in the ever-growing North Carolina technology sector,” said Timothy Janke, Director of Private Equity Initiatives for North Carolina’s Small Business & Technology Development Center.
Rawporter is a social network for news enthusiasts, protecting their rights and earning them compensation for sharing and selling their photos and videos online. Since it’s beta launch in November 2011, Rawporter has expanded into 55 countries and has sold content to dozens of media properties globally.
“Although we’re pleased with the progress to date, this funding provides the opportunity to expand faster and introduce functionality our community’s been clamoring for,” said Rawporter Co-founder Kevin Davis.
Rawporter is in public beta and based out of Charlotte, NC. Rawporter’s vision is to protect, promote and sell the photos and videos that are shared online. Community members can feature their photos and videos and manage their portfolios online. In turn, Rawporter actively promotes featured members through social media channels to increase exposure and the likelihood that their photos and videos will be purchased. For more information, visit www.rawporter.com or follow @Rawporter on Twitter.