BOCA RATON, FL, Switchboard Live has raised a $1.5 million Series Seed Preferred Stock offering.
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New World Angels (NWA), Florida's premier structured angel investor group, announced today a $555,000 investment in Orlando-based Switchboard Live's $1.5 million Series Seed Preferred Stock offering. Together with Mosley Ventures, a current investor funding an additional $500,000, NWA is investing to help Switchboard Live develop and grow their live video and social media management platform.
Switchboard is a live video, social media management platform that helps Creators, Producers and Brands manage their live streams and create workflows that extend reach to online audiences and social connections. Switchboard develops technologies that facilitate the sharing of live activations to social video platforms and broadcast destinations.
"New World Angels is delighted to join Mosley Ventures in funding the expansion of Switchboard Live" stated Carl Treleaven, who co-led NWA's due diligence team with Matt Lorentzen and will join Switchboard Live's board of directors. "We are very excited to be working with an exceptionally strong team led by CEO Rudy J. Ellis."
"As a start-up CEO, I am thrilled to have proven venture investors like Mosley Ventures and New World Angels express their belief in our technology and potential growth by investing in our success," explains Rudy J. Ellis CEO of Switchboard Live. Throughout the due diligence process, the professionalism demonstrated and the insightful questions asked by the diligence team convinced me that we were choosing the right partners."
NWA President and CEO Steve O'Hara noted, "Switchboard is our fourth new company funded in 2017 and eighth investment overall in 2017. Year-to-date we have invested over $4MM into Florida start-ups and we expect one to two more deals in 2017."
About New World Angels:
New World Angels (NWA) is a group of 63 accredited, private investors, operators and entrepreneurs dedicated to providing equity capital to early-stage entrepreneurial companies with a strong presence in Florida. Members of NWA have extensive experience in founding, building, and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from Miami to Jupiter on Florida's east coast and from Naples to Tampa on Florida's west coast, with a growing membership in Orlando. Since 2014, NWA has invested $13MM in growing US and international companies that are either based in Florida or have a strong presence in the state. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate a company's growth.
About Switchboard Live:
Switchboard Live is a B2B SaaS-based platform empowering live content creators and publishers with a simplified workflow to build audiences across multiple social media platforms. Switchboard Live's vision is to be the globally recognized way to do live video streaming whether it be a sporting event, political rally, musical concert or company meeting. Founded by Rudy J. Ellis, Josh Sachs and Jason Kotte in Orlando, Switchboard Live already has a who's who of blue chip live content publishers using its cloud platform.