MTDC Invests in SiteScape
Massachusetts Technology Development Corporation (MTDC) has announced an investment in SiteScape Inc. (Maynard, Mass.), which develops and markets software for use over the Internet for group collaboration. Private individuals co-invested with MTDC in this initial seed round.
Tim Butler, President and CEO of SiteScape Inc., notes, "The collaboration market is poised for rapid growth. Customers are beginning to realize that collaboration software is a basic infrastructure component, like mail and Web servers. There is a need for collaboration capabilities in intranet, extranet and Internet environments. Collaborative software needs to be ubiquitous, easy to use and manage, and able to be quickly tailored to the customer's particular business needs. SiteScape is uniquely positioned to provide collaborative software, applications, toolkits services, and outsourcing which meet those requirements."
MTDC provides venture capital funding for start-up and early stage technology companies. Since 1979, MTDC has invested more than $43 million in 98 Massachusetts firms.