New investment: Clovr Media

We recently closed a $1.5M investment in Clovr Media.  I’m super excited about this investment – huge opportunity, stellar team, and great partners.

Based in Boston, Clovr Media is building a valuable platform for financial institutions, retailers, brands, and consumers. It definitely falls into the “big idea” category.  There are several excellent articles that provide an overview of how the service will work: Xconomy, MHT, and Paid Content.  The following video gives a great overview:

Tom Burgess, who founded Third Screen Media, began kicking the idea around last year.  And we first started talking with Tom (who is a member of CommonAngels) about the concept early this year, brainstorming around certain approaches to the market.  It was clear that there was interest from banks for a new approach to customer loyalty, and with a highly differentiated approach, an opportunity to build a very valuable digital media company in the space.

We are thrilled to be working with Tom, Doug Spear, Chip Correra and the rest of the Clovr team. We are also very fortunate to be co-investing with Kepha Partners, a great firm that we really respect and have had the pleasure of co-investing previously.  Clovr is also one of the companies participating in the Massachusetts 12 x 12 initiative.

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