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Reston-Based Intellinote Raises $4.3 Million in First Round, Boulder Ventures Among Investors

01/14/2014
Intellinote, the Reston-based developer of a cloud-based platform that allows business users to create virtual workspaces and collaborate with one another on any device, said on Tuesday it has raised $4.3 million in its first round of funding, co-led by Grotech Ventures and Boulder Ventures. The company said it will use the proceeds to support customer acquisition, bolster its technology and expand its employee base. Don Rainey of Grotech and Jonathan Perl of Boulder will join the company's board of directors. "This round of funding gives us the opportunity to invest in market expansion, continue enhancement of our product, grow marketing and sales and expand our staff," said Bill Welch, Intellinote's co-founder and executive chairman. More than 1,200 clients now use Intellinote's technology.

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