NetShelter Technology Media closes on $11.1 million financing deal

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Toronto—Technology ad network NetShelter Technology Media has raised $11.1 million in an initial round of financing from venture capital companies Rho Canada, GrowthWorks Canadian Fund and JLA Ventures.

NetShelter will use the proceeds to expand the reach of the 150 technology-content Web sites and reader forums in its ad network, which, the company said, has logged 17.7 million unique visitors a month in the U.S. and 50 million globallysince the launch of the branded network in May 2006.

The company, with 35 employees, recently opened offices in New York and San Francisco.

—Christopher Hosford

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