NetShelter Technology Media has done what many say is the impossible, “getting funding during their economic times”, perhaps it is simple a matter of the company’s track record and being to assemble a publisher network of over 150 tech content sites and been profitable since inception in 1999. The company has announced its closed a round of series A financing to the tune of $11 million which will be used for further development and infrastructure costs.
“NetShelter Technology Media has experienced 900% growth in audience size in the past 2 years to become number one for reaching tech audiences online,” says Peyman Nilforoush, NetShelter’s CEO and Co-Founder. “The efficiency and profitability of our Open Media model has enabled us to beat all established traditional tech media companies including CNET, IDG, Ziff Davis and CMP with very limited resources and outside funding. Our ability to attract three of the county’s top venture funds in an economic downturn highlights the size of the opportunity the management and our investors see ahead for the company. We are very pleased and excited about our new investor partners.”
The funding was provided by Rho Canada, GrowthWorks Canadian Fund and JLA Ventures, Jeff Grammer, Partner at Rho Canada, Roger Chabra, Investment Manager at GrowthWorks Capital and Rick Segal, Partner at JLA Ventures will all be joining NetShelter’s Board of Directors.
