Tuesday, May 5, 2009

Foundry Group Ventures Into Gist

Boulder-based venture capital firm Foundry Group is venturing into a Seattle company, Gist, incubated by Paul Allen's Vulcan Capital. According to Gist, Foundry led a $6.75M Series A venture round in the firm, which develops software which connects web information with email programs like Microsoft Outlook and Google Gmail. Foundry's Brad Feld said in a statement that Gist "combines two of our core investment themes -- the implicit web and email." Gist said the new investment will go to product development and to expand operations.