With CIT’s investment, Villagize will network neighborhoods and local businesses together, while also advancing the innovation market within the Commonwealth.
Herndon, VA (PRWEB) February 29, 2012
The Center for Innovative Technology (CIT) announced today an investment in Oakton, Va.-based Villagize, a social networking website that connects people in their local residential community.
Villagize allows individuals to send neighborhood messages, share regional news and events, interact with local businesses and form community groups. Built leveraging the Facebook platform, Villagize allows users to connect even if they are not Facebook friends. Villagize plans to add custom content that details events within the user’s neighborhood, such as local church and school group events, and regional news.
CIT President and CEO Pete Jobse said, “Villagize’s innovative social networking platform facilitates interactions with neighbors who, without this product, may have never spoken to one another. With CIT’s investment, Villagize will network neighborhoods and local businesses together, while also advancing the innovation market within the Commonwealth.”
Villagize’s CEO Gio Hunt said, “Our mission at Villagize is to build stronger local communities by enabling people to discover, connect, and share with their real-world neighbors and nearby friends. We want to make everyone’s neighborhood – everyone’s Village – a better place to live. And an essential step in making neighborhoods better is strengthening the relationships people share with one another at a local level.”
Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “CIT GAP Funds has confidence in Villagize’s ability to utilize technology to help communities thrive.”
Since its 2005 launch, CIT GAP Funds has placed over 60 investments across the Commonwealth, deploying more than $5M of public funds and attracting more than $10 dollars of private funding for every $1 of public money invested. (For a list of portfolio companies, please visit the GAP Funds website.)
To learn more about Villagize, visit their 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.