StatusNet Secures $875,000 in Financing

Oct 30, 2009

Open Source microblogging developer StatusNet secured $875,000 in a round of financing that included venture capital groups Montreal Start Up and iNovia Capital, as well as angel investor Oleg Tscheltzoff. StatusNet indicated that it plans to use the capital to build the sales, support, and marketing capabilities of the organization, which focuses on developing open source microblogging tools that it refers to as "the WordPress of microblogging."