Sutus, a Vancouver, BC-based telecommunications company, said it has raised $2 million in venture funding from BDC Venture Capital, the Working Opportunity Fund managed by Growthworks Capital, and an additional $2.5 million in debt financing from MMV Financial. The company also hired Mike Donnell as CEO, a 25-year veteran of the software and telecom industries. Sutus will use the cash to boost sales of its Sutus Business Central product for small businesses, which it began selling in late 2007.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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