• December 15, 2008

NetShelter Technology Media has closed $11.1 million in Series A venture capital funding from Rho Canada, GrowthWorks Canadian Fund and JLA Ventures.

The Toronto company, which recently opened offices in New York and San Francisco, plans to build out its "Open Media" model aimed at helping brand marketers engage with consumer and B2B tech buyers worldwide.

The NetShelter platform combines a publisher network of more than 150 tech content sites with programs that offer marketers an integrated customizable platform. The media start-up, which has been profitable since its inception in 1999, said it needed a mere $1.5 million in seed funding to assemble a platform to go up against rivals CNet and IDG, but investors gave more.

Joining the company's board of directors are: Jeff Grammer, Rho Canada partner; Roger Chabra, GrowthWorks Capital investment manager and Rick Segal, JLA Ventures partner.--Laurie Sullivan