Big news today for Portland and the world of wiki. Portland-based AboutUs has secured $5 million in Series A funding led by Voyager Capital. And in equally good news, the company plans to use the infusion of cash to expand their staff.
It’s always impressive when a Portland company lands funding, but given the current economic conditions, this is especially welcome news.
Quoting heavily from my post on ReadWriteWeb:
How does a small startup secure capital in such turbulent economic times? Being profitable helps – something AboutUs achieved by mid-year 2008. The company is forecasting continued growth, this year. Ray King, CEO, said the company is targeting $5 million in revenue for 2009. The primary source remains advertising, but the online marketing services AboutUs sells – including content creation and custom page development – continue to gain traction.
Another reason for investor confidence? The staff. AboutUs holds a special place in the world of wiki as the employer of Ward Cunningham, the inventor of the wiki, and they continue to attract new talent. They recently hired a number of new employees, including CFO Jack Williamson. King hopes to use the new funding to increase the size of the company to around 50 employees by the end of 2009, up from its current staff of 32.
The company also received a nice write-up in the Portland Business Journal today. But, of course, the Business Journal being what it is, you won’t be able to read it unless you’re a subscriber.
For more on the news, see Mike Rogoway’s post on the Silicon Forest blog.
Other good news? The celebration for this announcement has already been set. Don’t forget, AboutUs is buying us lunch—or rather Lunch 2.0—next month.