Local angel groups including Launchpad Venture Group, Hub Angels, Sidecar Angels, and Beta Fund, along with the eCoast Angels of NH and Angel Investor Forum of Connecticut, joined the state of MA in syndicating a $2.15M series A round for Content Raven of Marlborough, MA.The round was led by MassVentures and included the first ever investment from Commonwealth Fund III, a partnership fund with MassDevelopment managed by 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 Commonwealth III Fund is expected to invest in four to seven companies that are in the emerging market segments, started by first-time entrepreneurs or moving from seed to Series A financing. “With our new investments and focus, MassVentures is well-positioned to lead and participate in investments alongside angels and venture capital firms that bring industry expertise, a track record of success, and a shared commitment to follow-on funding,” said Jerry Bird, President of MassVentures, at the fund announcement last year. “We look forward to working with local entrepreneurs, and partnering with the angel and venture communities to support innovation in the Commonwealth.”
About Content Raven
Content Raven was founded in July 2011 by Vasu Ram, and had previously been self-funded. From the company: “Content Raven empowers enterprises of all sizes to control intellectual property and other valuable content as it is shared externally. The company provides content distribution and control through the cloud, with usage analytics, to mobile and other devices focused on rich media. Content Raven's end-to-end content control and analytics solution enables users to securely and easily share and track rich media, video, and other critical documents without risk of loss or abuse. Easy to use, with no software installation required, Content Raven is the first and only cloud-based content control solution that supports multiple devices, including mobile, and any type of content format. Companies around the world, including EMC, Gryphon Networks, and Certified Home Care use Content Raven. Content Raven is headquartered in Marlborough, MA."