Baltimore Start-Up Raises $1.5 million

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citelighter

As we mentioned the other day, Baltimore is a great place to be a tech worker. Not only are salaries high, there are also plenty of investors looking to give seed funding to what they hope will be the next hot idea. Case in point: Citelighter, which promises to help students organize citations in academic papers — and which just raised $1.52 million in financial backing, the bulk of it from Baltimore area investors.

Citelighter bills itself as “a free way to organize your education.” It allows students to collect and sort information easily, and automatically converts sources into proper bibliographic form. (Watch the video explaining how it works here. Amazing how the right kind of rousing music can make even a simple citation tool feel inspirational.) The technology is already being used by students on more than 1,500 campuses and in more than 50 countries, its founders report.

While the startup was originally based in New York, its founders moved Citelighter to Baltimore last year to take part in the Betamore tech incubator.

According to In The Capital, the seed money came from investors including John Cammack, managing partner of Cammack Associates; Frank Bonsal Jr., founder of venture-capital firms New Enterprise Associates and Red Abbey Venture Partners; and David Warnock, managing member of private-equity firm Camden Partners. Add that money to the nearly $1 million it raised in 2013, and Citelighter is looking pretty good.

And remember that whole thing about Baltimore having high salaries for tech workers? As Citelighter expands, they plan on hiring seven more employees by the end of 2014. Prepare your resumes.



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