Digital Railroad Secures $10M to Accelerate Product Development and Expand Internationally.Funding Further Validates Company's Success in Connecting Photographers, Agencies and Buyers in a Global Marketplace NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Digital Railroad today announced it closed a $10 million Series B investment round led by London-based venture firm DN Capital, with further participation from existing investors Morgenthaler Ventures and Venrock Associates. The funding will be used to accelerate product development, fuel the launch of the Digital Railroad Marketplace and open international offices, starting with Milan. "The vibrant network that has already been brought together by Digital Railroad's management team is on the cutting edge of changes that are afoot in the photography industry," said Steve Schlenker, managing partner at DN Capital. "The Digital Railroad approach will significantly empower the creative community and drive industry economics in favor of the buyers and sellers of digital imagery." Digital Railroad has a growing international membership base of marquee professional photographers and photo agencies that manage, market and sell their images online to thousands of buyers in nearly 60 countries. In addition to supporting product development, the new funding will enable the company to reach new markets worldwide. "This new round of funding, along with the ongoing support of our current investors, allows us to evolve the platform in response to the professional photography community's needs," said Evan Nisselson, Digital Railroad founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "With its European network and expertise in growing technology and media companies, DN Capital is an ideal partner for Digital Railroad's global expansion." Schlenker joins Digital Railroad's existing board, which includes Ken Gullicksen, general partner of Morgenthaler; Mike Brooks Mike Brooks is a television news correspondent for CNN, currently based in Atlanta, Georgia. He appears regularly on Nancy Grace's show, and gave significant coverage of the Anna Nicole Smith paternity controversy, as well as the Virginia Tech massacre. , general partner at Venrock; Peter Nisselson and Evan Nisselson. About Digital Railroad Digital Railroad (www.digitalrailroad.net) is the trusted provider of online technology and services for the global community of buyers and sellers of professional photography. Digital Railroad members actively manage images on topics such as sports, news, celebrity, commercial, nature and stock. Digital Railroad's comprehensive suite of online services transforms the way photographers and agencies manage, market and sell images worldwide. About DN Capital DN Capital (www.dncapital.com) is a pan-European venture capital firm backed by leading institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . DN Capital identifies invests in and actively supports leading European enterprise software, communications and digital-media companies. With more than 30 years of private-equity experience, the firm concentrates its investment activities in the United Kingdom, France and Germany, and is also active in helping leading U.S. software companies enter the European market. About Morgenthaler Morgenthaler (www.morgenthaler.com) is a leading, national venture-capital and buyout firm with offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif., Boston, Princeton, N.J., Boulder, Colo., and Cleveland. Its venture-capital team focuses on life sciences and information technology. Internet-services investments include: NexTag, SNOCAP, Orb Networks, imeem, Digital Railroad, IGA IgA abbr. immunoglobulin A IgA, n the abbreviation for immunoglobulin A. IgA immunoglobulin A. See immunoglobulin. Worldwide and Rhythm New Media. About Venrock Associates Venrock Associates is a premier venture capital firm with offices in Menlo Park, New York, Cambridge, MA, and Israel. Originally established as the venture capital arm of the Rockefeller family The Rockefeller family, the family of John D. Rockefeller (1839-1937) ("Senior") and his brother William Rockefeller (1841-1922), is an American industrial, banking, philanthropic, and political family of German American origin that made the world's largest private fortune in the , Venrock continues a six-decade tradition of funding entrepreneurs and establishing successful, enduring companies. Having invested $1.8 billion in 400 companies resulting in over 120 IPOs over the past 38 years, Venrock's investment returns place it among the top tier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] that have achieved consistently superior performance. With a primary focus on information technology, healthcare, and energy, portfolio companies have included Intel, Apple Computer, StrataCom, Check Point Software, and DoubleClick; Sirna Therapeutics Sirna Therapeutics Inc. (NYSE: RNAI), Sirna develops therapeutics based on RNA interference (RNAi) technology, a new and extremely potent method of using nucleic acids as drugs. , Centocor, Idec Pharmaceuticals, Sugen, Millennium Pharmaceuticals Millennium Pharmaceuticals NASDAQ: MLNM is a biotechnology company based in the Cambridge, Massachusetts area of the United States of America. Founded in 1993, the company conducts research in various scientific areas, currently focusing on inflammation and oncology. , and Illumina. For more information, please visit Venrock's website at www.venrock.com. Digital Railroad is a trademark of Digital Railroad Inc. Other company, product or service names mentioned herein are the trademarks of their respective owners. |
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