Interactive Mobile @dvertising, which offers GPS-enabled mobile destination guides in partnership with tourism authorities at trade shows, attracted a $500,000 investment from Connecticut Innovations.
iM@ had been designated PhoCusWright’s Travel Technology Innovator of the Year in 2008, and the Connecticut Innovations investment was iM@’s first venture-capital funding.
The $500,000 investment from Connecticut Innovations, seeded by the State of Connecticut to invest in early-stage Connecticut technology companies, was part of an $800,000 funding round for Norwalk, Conn.-based iM@. The funding round included investments by individuals.
IM@ CEO Kerry Cannon says the funding will be used to strengthen relationships with strategic partners, including Reed Exhibitions and the Las Vegas Convention and Visitors Authority, and provide technical support and marketing.
In Connecticut Innovations’ announcement about the funding, Connecticut Governor M. Jodi Rell states the investment will help to bolster the state’s tourism industry.
In Norwalk alone, iM@ has plenty of tourism compatriots, including Priceline and Kayak.
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Disclosure: Tnooz CEO Gene Quinn is chairman of iM@.
Seems strange that Gov. Rell states she wants to help Connecticut’s state tourism industry, when she cut the state’s tourism marketing budget from $4 million + to only $1.
Wow. They REALLY like the shadow feature in Photoshop, eh?
Sarah K: Great eye:)
M Amabo: I was unaware she gutted the tourism budget. I guess the hope is that by funding tech companies, eventually it will lead to job creation. So, it’s not all about tourism promotion.