Cloud-based news platform SendtoNews.com announced today that it has closed a $1 million financing round from angel investors led by Elton, Adrian and Myron Pereira & Don Wharton, all Co-Founders at ParetoLogic Inc. The funds will be used to accelerate North American expansion out of its offices in Victoria, San Francisco and New York.
“This round of angel financing will allow us to grow our team, aggressively increase our sales and marketing efforts into the sports event marketing and advertising industries, and continue to innovate and scale our technology to keep pace with the rapid adoption of our cloud-based news distribution platform,” said new CEO Greg Bobolo.
SendtoNews launched its platform at the Vancouver 2010 Olympics where more than 1,450 reporters used the SendtoNews platform to send video to their home networks in over 200 different countries. The platform has since been used for high-profile sporting events worldwide and adopted by North America’s largest news organizations.
The company’s success has gotten the attention of Elton Pereira, a Victoria-based entrepreneur who co-founded the security and utility software company ParetoLogic and helped transform it into one of North America’s fastest growing technology companies.
“I recognized this as an exceptional investment opportunity,” said Pereira. “SendtoNews.com is well positioned in the high-growth space of cloud-based news distribution and has paired a transformational technology with a management team that has an exceptional knowledge of the news industry.”