Herndon, VA (PRWEB) January 11, 2012
The Center for Innovative Technology (CIT) announced today an investment in Reston, Va.-based PublicRelay, a company providing an intelligence system for corporate communications and public relations executives.
As a proven innovator in the field backed by the National Science Foundation's Small Business Innovation Research (SBIR) Program, PublicRelay delivers an industry-leading media monitoring and analytics solution to some of the world's most sophisticated brands, government agencies, and trade associations. Their unique focus on accurate, useful analysis surrounding key influencers identified both online and offline has created a loyal customer base across multiple industries. PublicRelay also leverages the power of social media to give its clients the ability to amplify their messages to supporters across the Web quickly and easily.
CIT President and CEO Pete Jobse said, “PublicRelay’s software uses innovative technology to solve real problems in the marketplace – whether that is sophisticated content analytics that give actionable insights to the PR team or providing tools to effectively engage target audiences. With CIT’s investment, this company will be leading the advancement of digital communication across all industries.”
PublicRelay is known for its ability to deliver the richest, most useful analytics in the marketplace, including measuring message uptake, identifying which influencers are prominent and have strong opinions on key topics, and the impact of PR on sales and market share. Clients also can use PublicRelay to forecast trends and identify issues early on, giving them the ability to ‘look around the corner' and avert crises.
“PublicRelay gives our clients the kind of actionable information, insights, and relationship-building knowledge that has been absent in a marketplace filled with one-size-fits-all automated solutions,” said Eric Koefoot, PublicRelay’s co-founder and CEO. Chris Bolster, co-founder and President of the company, added, “With our solution, communications executives have knowledge at their fingertips that makes them more proactive, strategic, and valuable to their company’s mission.”
Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “We offer entrepreneurs like Eric and Chris access to hard-to-find capital, enabling them to focus on the development of their product. PublicRelay’s cutting-edge public relations technology demonstrates the potential to generate extraordinary economic returns for the Commonwealth of Virginia.”
Since its 2005 launch, CIT GAP Funds has placed over 50 investments across the Commonwealth, deploying more than $5M of public funds and attracting $16 dollars of private funding for every $1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)
About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.
About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources.
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