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Media Network NetShelter Raises $11.1 Million First Round

imageTech blog aggregator NetShelter has secured $11.1 million in a first round funding from Rho Canada, GrowthWorks Canadian Fund and JLA Ventures. The Toronto company plans to use the proceeds to speed up development of its Open Media ad system. The new program hopes to connect brand marketers with NetShelter users and B2B tech buyers. The investment is also designed to help NetShelter better compete against rival tech publishers like CNET and IDG. In its nine years of operation, NetShelter has previously raised only $1.5 million in seed funding. Even though it’s been around awhile, NetShelter has become much more aggressive in pursuing growth in the past year. It has recently opened offices in New York and San Francisco as it tries to crack the U.S. market. The aggregator claims to reach 9.3 percent of the total U.S. online audience and comScore (NSDQ: SCOR) says it averages 17.7 million unique visitors a month.

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