Bala Cynwid-based Osage Ventures has announced a Series A investment in ProtonMedia, a company that specializes in creating virtual worlds.
Stopping just short of calling its main product “The Matrix,” ProtonMedia’s primary product is “ProtoSphere” — a platform that customers use to hold virtual meetings and classes. The software allows for voice chat, document transfer and custom avatars, among other features.
The Lansdale-based company is already profitable, boasting some pretty large customers including Comcast and AstraZeneca.
The deal is an all-local transaction. Osage is being joined by Bethlehem’s Originate Ventures for a combined cash influx of $2.5 million. ProtonMedia says it will use the money to beef up its sales and marketing teams while improving the company’s technolgy.
The company, founded in 1998 by Temple alum Ron Burns, has been profitable for “four or five” years, launching the Protosphere in 2006.
If you’re really curious, download the demo, or see a video below of ProtonMedia’s walkthrough of their virtual world:
[tech]48AI04zsUAg[/tech]
Before you go...
Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.
3 ways to support our work:- Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
- Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
- Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
Join our growing Slack community
Join 5,000 tech professionals and entrepreneurs in our community Slack today!
The person charged in the UnitedHealthcare CEO shooting had a ton of tech connections
From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game
How a laid-off AI enthusiast pivoted to become a founder — while holding down a day job
