Round13 Capital invests in Bluerush's $1.3 mln financing

Toronto digital solutions provider Bluerush Media Group Corp (TSX-V: BTV) has closed a private placement deal, generating proceeds of $1.3 million. Round13 Capital Founders Fund, an affiliate of Canadian venture capital firm Round13 Capital, invested $750,000. As a result, the fund acquired about 25 percent of issued and outstanding shares and is entitled to nominate a board member. Founded in 2004, Bluerush provides marketing and sales software that helps organizations engage with their customers. It will use the funds raised to ramp up sales and R&D activities that support the company's development "toward a recurring revenue model."

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