Company well positioned to help enterprises protect crucial corporate content in the burgeoning BYOD market
MassVentures, an early-stage venture capital firm focused on fueling the innovation economy in Massachusetts, in partnership with MassDevelopment’s Emerging Technology Fund, today announced it financed and led the Series A funding round of more than $2,000,000 for Content Raven. The finance round was oversubscribed and included funding from leading New England angel investors Angel Investor Forum, LaunchPad, Hub Angels, East Coast Angels, Beta Fund, and SideCar Angels. Content Raven, founded by a veteran management team, has developed a secure document and rich media-sharing application to enable companies to reduce the risk of data exposures and eliminate revenue loss due to unauthorized access to valuable corporate information.
Content Raven is the first investment made through Commonwealth Fund III, a partnership with MassDevelopment’s Emerging Technology Fund and MassVentures. “The partnership between MassVentures and MassDevelopment has allowed us to meet our goal to support cutting-edge companies to grow and create jobs in Massachusetts,” said MassDevelopment President and CEO Marty Jones. “We look forward to a continued partnership with MassVentures and the broader investment community to support innovation in the Commonwealth.”
“It’s an exciting time to be part of the vibrant tech economy here in Massachusetts. MassVentures committed to us early and with its help and support we orchestrated a successful fund-raising round with regional angel groups,” said Content Raven CEO Ron Matros. “We can now focus on growing our product offerings and broadening our position in the market.”
“The Content Raven solution provides the right balance among security, flexibility, and ease-of-use without disrupting normal business routine. It is well-positioned with its data-centric model to support the security needs of enterprises across industries,” said Jerry Bird, President of MassVentures. “Ron and his team have the entrepreneurial experience and the business know-how to prove out their value proposition and grow their business in the Commonwealth.”
“Entrepreneurship and innovation are two of the hallmarks of our growing economy, and investing in those areas will help us maintain our position as a world leader in those areas and help create economic opportunity for everyone,” said Greg Bialecki, the Secretary of Housing and Economic Development. “This partnership between MassVentures and MassDevelopment is an example of how two state organizations can combine their strengths to help fuel economic development and job creation in Massachusetts.”