Greentech Media Secures $1 Million to Build Innovative Online Environment for the Green-Technologies Market

Round led by Northport Private Equity and Lightspeed Venture Partners

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Greentech Media, Inc., a new online, analyst-driven media firm that delivers cutting-edge industry news, technology-centric market research and tightly focused industry events, today announced that it secured $1 million in Series-A funding. Investors Northport Private Equity and Lightspeed Venture Partners led the round and were joined by several strategic angel investors. The company will use this financing to continue to expand its operations and to fulfill its mission of delivering truly must-have content in the burgeoning greentech market.

“As venture capitalists, we are active in the green technologies market and we see Greentech Media filling a strong need for the entire industry. We are looking forward to working with the team as this market grows.”

“The markets for clean energy, advanced transportation, breakthrough efficiency, green building and sustainable air and water technologies present a real, lasting opportunity for entrepreneurial companies, including online media,” said Greentech Media’s President and CEO Scott Clavenna. “We are delivering an innovative publishing model that leverages our strengths in market analysis to create compelling content, from our daily news analysis to our market reports, webinars and live events.”

“Greentech Media is addressing an exciting emerging opportunity – providing the greentech market with consolidated and comprehensive information that is not available today,” said Eric Reed, Northport Private Equity general partner. “Greentech Media’s customer traction to date, prior to launching the company, has already exceeded our expectations.”

"We feel strongly about the management team whom we have worked with before and the business strategy they have put together for Greentech Media," said Peter Nieh, Lightspeed Venture Partners general partner. "As venture capitalists, we are active in the green technologies market and we see Greentech Media filling a strong need for the entire industry. We are looking forward to working with the team as this market grows."

About Northport Private Equity

Northport Private Equity was founded in 1996 by David T. Shelby and is headquartered in Northfield, Ill., a suburb of Chicago. They have partners located in Chicago, Indianapolis, Denver, Ft. Collins, Colo., and the Boston area. Since 1996, Northport Private Equity has been developing relationships to gain access to deals from the most recognized, most successful venture-capital firms in the world including Kleiner Perkins Caufield & Byers, New Enterprise Associates (NEA), Benchmark Capital, Sequoia Capital, ComVentures and Sevin Rosen Funds. Northport Private Equity is currently active in various markets, including greentech. Northport Private Equity portfolio companies include, among others, Infinera, Motricity, Altra Biofuels, Bloom Energy, and Force 10 Networks. For more information, visit http://www.northportequity.com.

About Lightspeed Venture Partners

Lightspeed is an early-stage technology venture-capital firm focused on helping entrepreneurs build large, sustainable enterprises globally. The partners of Lightspeed have invested more than $800 million in more than 100 technology companies over the past two decades. Its team invests in the United States, Israel and Asia and has contributed strong operational and sector expertise to market leaders such as Blue Nile, Brocade, Ciena, eHealthinsurance, Galileo Technology, Informatica, Kiva Software, Metasolv, Phone.com, Quantum Effect Devices, Sirocco and Waveset, working closely with these companies throughout the early stages of their business-development lifecycles. Because Lightspeed focuses on investments in specific sectors, portfolio companies benefit from the firm’s specialized industry knowledge and deep global network of relationships. For more information, visit http://www.lightspeedvp.com.

About Greentech Media

Founders Scott Clavenna and Rick Thompson bring diverse experience from technology startups, market research firms and integrated online media companies, notably Light Reading, the leading online company serving the telecommunications market. Greentech Media builds on those successes and is designed to deliver the highest-quality content in the industry, whether it is research, news or critical networking events. Greentech Media is headquartered in Cambridge, Mass., New England’s educational- and technology-innovation center, with operations in New York City and San Francisco. For more information, visit http://www.greentechmedia.com.