InNetwork Secures $490,000 in Venture Capital

Something social is brewing in Halifax and Toronto, and it’s got at least one big name from the East Coast startup scene attached to it.

InNetwork Inc. is set to launch out of offices in both cities, the company said in a news release Thursday. It said its platform will help marketers strategically select people and publishers who can spread a campaign through social networks. The tool then builds and executes a marketing campaign and also manages any payments involved in the process, the company said.

InNetwork already has investors and will announce its first round of venture capital financing soon, according to the news release.

The startup has snagged Gerry Pond to chair its board of directors. Pond was a founding investor in hot East Coast startups Radian6 (a Fredericton, N.B. firm bought by in March 2011 in a deal worth $326 million) and Q1 Labs (another company with Fredericton roots acquired by IBM one year ago).

InNetwork co-founders Chris Keevill and Duri Alajrami both hail from Colour, an agency providing marketing, public relations, digital and translation services out of offices in Halifax, Toronto, Moncton and St. John’s. Keevill is still listed on Colour’s Web site as its president and CEO while Alajrami is listed as president of Colour Social, a new social media-based division launched in May.

InNetwork’s third co-founder, Craig Rennick, was formerly vice-president of sales at FloNetwork (acquired by DoubleClick in 2001) and co-founder of Fortiva (acquired by Proofpoint in 2008).

*This article first appeared on Innovacorp*

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