Abacast, Inc., a Camas, WA-based provider of online radio monetization and streaming media solutions, completed a $500,000 convertible debt financing.
Investors include a combination of existing shareholders and new strategic investors.
Founded in 2000, Abacast offers a complete, integrated suite of streaming, advertising, and analytics services. The company intends to use the funds to expand its engineering and sales teams, accelerate product development, develop additional partnerships, and increase marketing initiatives.
In addition, Abacast has hired veteran digital media executive Rob Green as CEO. Mr. Green, a former executive at Nine Systems and Group Business Development Manager at Microsoft in the Digital Media Division, had been serving as interim CEO and is a member of the company’s board of directors.