Local News: Clearspring Raises $18 million

This was really exciting news here today in the DC area. Clearspring, everyone’s favorite widget network got a Seires C funding round of $18 million.  This is a nice infusion of cash and will allow them to

The new round will fund expansion of Clearspring’s viral marketing network, which currently serves and tracks almost four billion widgets monthly. It will also be used to extend Clearspring’s reach into international markets and further develop its rapidly growing advertising network and vast data infrastructure and optimization services.

Of course we are all happy to see a local company secure such a nice round of funding.  At the recent SocialDevCamp in Baltimore a ccouple of weeks ago, one of the final sessions of the day was about the local area and issues like funding.  Some of the good insight came from Clarence Wooten, of CollectiveX, who had previously cashed out of a company that was bought by Network Solutions.  He said that until the local area gets some major funding under its belt, the area would have a hard time standing out in the crowd.

Maybe a funding infusion to such a great company will help to continue to put DC on the technology company map.  Congrats to the team at Clearspring and good luck.  Use it wisely