Tuesday, May 13, 2008

Greentech Media gets $2.75M in second VC round

Greentech Media Inc., a locally based green technology blog, has closed a Series B venture capital deal worth $2.75 million.

The round was co-led by EGORA Holding and The Massachusetts Green Energy Fund, along with participating investors Lightspeed Venture Partners, Northpoint Private Equity and King Hill Capital.

The investment adds to the $1 million in Series A capital the firm landed last May.

Cambridge-based Greentech Media was co-founded by CEO Scott Clavenna, a former analyst for Heavy Reading (the market research arm of Light Reading), and vice president Rick Thompson, also a former analyst with Heavy Reading who also spent several years in the local startup community at marketing positions for PanGo Networks Inc. and Sycamore Networks Inc.

The company was founded in February 2007 and provides news and research for the clean tech market.