ThePort Secures $4.1 Million

Dec 05, 2008

ThePort Network, Inc., a social media solutions provider, announced that it has raised $4.1 million in series B funding. American City Business Journals, a publisher of metropolitan business newspapers, led the financing. Other participating investors include Lee Enterprises, a newspaper chain; Atlanta-based venture capital firm Imlay Investments; angel investor Robert Jetmundsen; and Bob Cramer, ThePort CEO and co-founder. The new capital will be used to expand ThePort’s sales, marketing, and business development activities, while also supporting technology enhancements to ThePort Social Media Suite. The Software-as-a-Service (SaaS) solution allows customers to create, operate, and monetize socially enabled online communities.