Sensing Opportunity For Eco-Centric News, Greentech Media Closes $2.75 Million Second Round

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Greentech Media, the online environmental news and research outfit, has raised $2.75 million in a second round funding. New backers Egora Holding and The Massachusetts Green Energy Fund co-led the round. Previous investors Lightspeed Venture Partners and Northport Private Equity also participated, along with another new backer, King Hill Capital. Cambridge, MA.-based Greentech raised a $1 million first round last May. The proceeds of this current round will be used for additional hires, product development and expanding its domestic and global presence.

The company says that more consumers are interested in environmental-related news; the funding is meant to help Greentech capitalize on that growing “eco-consciousness.” As part of the build out, Greentech also announced that veteran *CNET* editor Michael Kanellos has left the company and joined Greentech as senior analyst; that comes nearly a month after Valleywag first reported the move. Release.

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This site has been a godsend in the increasingly crowded green sector. Their editor is Jennifer Kho, who formerly did a great job covering the industry at Red Herring. I'm glad to see others understand the company's value!

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