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Venture Capital Funding Allows AideRSS to Capitalize on Rapid Internet RSS Growth
Waterloo, ON (PRWEB) January 10, 2008 -- AideRSS, Inc. a leader in information management tools is pleased to announce today that a significant financing round has been raised with Tech Capital Partners and a group of Canadian Angel Investors. This funding will provide the resources for AideRSS to continue to develop leadership in the growing market for RSS filtering and ranking tools which help improve personal productivity.
"2007 was a banner year for RSS, with the $100 million acquisition of Feedburner by Google, the extensive use of RSS within Facebook, and the fact that RSS is now the hidden force behind most of the syndication on the web - including news sites, content aggregators, blogs, and social networks," said Ilya Grigorik, co-founder and Chief Architect at AideRSS. "Today the biggest challenge is dealing with information overload - the wealth of available content makes prioritization key. Our focus at AideRSS is building tools which allow the user to prioritize and allocate their attention efficiently among all these sources."
With a patent pending for their PostRank? algorithm AideRSS addresses the issue of people spending significant amounts of time in their feed readers such as Google Reader and Bloglines trying sift through piles of stories to find the good stuff and read what matters. AideRSS's PostRank system filters and ranks incoming stories, posts and articles based on social engagement metrics such as comments, bookmarks, trackbacks and more. Like a newspaper editor, who picks the relevant stories off the newswire services, AideRSS analyzes all of the posts in an RSS stream, assigns a PostRank score based on what others are saying and delivers only the most relevant stories to a reader's inbox based on their chosen filtering level.
Founded last January and following a successful launch in July that resulted in hundreds of positive articles and reviews including top front-page stories on Slashdot, Digg, Mashable, e-Week, Network World and other leading news sources, AideRSS's feed management tools fill a dire need to help manage the overwhelming numbers of posts and news stories generated everyday on the Internet. Earlier this week, Marshall Kirkpatrick of ReadWriteWeb wrote "check out tools like AideRSS? to improve the signal to noise ratio" regarding how to address the issue of information overload.
AideRSS is currently tracking over one hundred thousand unique RSS feeds/sources and filters millions of individual internet posts each week - numbers that continue to increase rapidly.
"According to recent Google statistics, the term 'What is RSS?' was the third most queried string in 2007," stated Kevin Thomason, co-founder and Chief Marketer at AideRSS. "Now that we have completed this financing, we have the resources to continue to build and expand the team. We are very well positioned to deliver fantastic tools and services to empower both publishers and online blog, news, and article readers as these areas continue to grow rapidly in 2008."
AideRSS has released an API for its partners and is working with a number of organizations around the globe to provide PostRank functionality and new powerful productivity features within other solutions.
AideRSS is a free, easy to use tool available immediately at www.aiderss.com. Click on a logo to see a featured filtered feed, or enter a favorite blog URL, or substitute your unfiltered RSS sources with the AideRSS filtered feeds right in your favorite feed reader to experience the power of PostRank and how it can improve personal productivity.
Bloggers and publishers can also download the free PostRank widget to help direct readers to their best articles.
About AideRSS, Inc.
Founded in January 2007, AideRSS is based in Waterloo, Ontario, Canada - the heart of Canada's Technology Triangle. AideRSS is focused on delivering personal productivity tools that help people deal with information overload and "Read What Matters?". Currently, employing eight full-time teammates AideRSS is always on the lookout for great talent and is actively seeking partners and strategic alliances.
About Tech Capital Partners Inc.
Based in Waterloo, Ontario, Tech Capital Partners manages $95 million in venture capital. Tech Capital provides financing, market strategy and operational guidance to early-stage technology companies that have the potential to compete at a global level. Since its inception in 2001, Tech Capital has invested in some of Canada's most innovative high-tech companies, including AideRSS (www.aiderss.com), Covarity (www.covarity.com), LiveHive Systems (www.livehivesystems.com), Sandvine (TSC:SVC; AIM:SAND) (www.sandvine.com), Sidense (www.sidense.com), Sirific Wireless (www.sirific.com), Software Innovation (www.softinn.com) and VideoLocus (acquired by LSI Logic). An active advocate of innovation and entrepreneurialism, Tech Capital maintains a strong presence in Waterloo's thriving technology community.
For more information
Press Contacts:
Kevin Thomason
AideRSS, Inc.
kevin@aiderss.com
+1 (519) 888-3322
Jacqui Murphy
Tech Capital Partners Inc.
jmurphy@techcapital.com
+1 (519) 883-8656
Note to Editors: For additional information, references, and what people are saying about AideRSS please visit the Media Press Center on the AideRSS website at http://blog.aiderss.com/media
All company and/or product names are trademarks or registered trademarks of their respective owners.
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