|[July 15, 2009]
ProtonMedia Raises $2.5 Million in Series ‘A' Financing
LANSDALE, Pa. --(Business Wire)--
ProtonMedia today announced the successful completion of a $2.5 million Series ‘A' venture financing. The company, which is profitable, will use the financing to accelerate R&D of ProtoSphere 2.0, a second-generation social collaboration platform for highly effective online teaming. The funds will also be used to expand ProtonMedia's sales force, to help the company respond to strong demand among global corporations, especially in the pharmaceutical and energy sectors.
ProtoSphere is now used by several of the pharmaceutical industry's leading brands, and two of the energy industry's top ten brands, to create engaging team environments that markedly improve the productivity and organizational effectiveness of globally dispersed teams.
ProtonMedia's customers use ProtoSphere for more engaging and immersive virtual meetings, for virtual events that give access to subject matter experts without burdensome travel, and in project teaming situations to optimize knowledge transfer and human capital management. Built with the enterprise in mind, ProtoSphere provides a secure platform with all the tools teams need to collaborate socially online, including holographic virtual spaces with interactive avatars and bots, document and application sharing, VoIP audio conferencing, text chat, presence awareness, video streaming, blogs, wikis, feeds, role playing simulations, content workflow, and enterprise social networking.
Capital for this round came from Originate Ventures of Bethlehem, Pa., Osage Partners of Bala Cynwyd, Pa. and individual investors.
"While the financial environment remains challenging, our pipeline, growth, and profitability were key elements in attracting investors to our Series A financing," said Ron Burns, Chief Executive Officer and founder of ProtonMedia, in Lansdale, Pa. "We are pleased to complete this initial round of financing, as we work to roll out the next version of ProtoSphere, and build on our profitable model."
ProtonMedia is the developer of ProtoSphere, a state-of-the-art social environment for highly effective online teaming. Since 2006, ProtonMedia has been helping businesses overcome the limits of traditional online collaboration tools with engaging environments that improve the productivity and organizational effectiveness of globally distributed teams. ProtonMedia's growing list of customers include some of the world's most respected brands, including AstraZeneca, Becton-Dickinson, Comcast (News - Alert), GlaxoSmithKline, Johnson & Johnson, National Defense University, Merck Inc., BP, Chevron, Johnson & Johnson, Eli Lilly, Duke University's Fuqua School of Business, TIAA-CREF, and Cisco (News - Alert). For more information, visit www.ProtonMedia.com.
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