New York Angels Sees Surge in Early Stage Financing; Group Expands Board of Directors, Adds Two Internet Entrepreneurs

New York Angels Sees Surge in Early Stage Financing; Group Expands Board of Directors, Adds Two Internet Entrepreneurs

NEW YORK — Responding to a recent upswing in technology funding, New York Angels, Inc., the metropolitan area’s leading early stage investment group, has led new investments in MediaTile and Spotlight Data, two companies selected from more than 250 business proposals submitted in the last twelve months. It has also made follow-on investments in Content Directions (CDI), Zero-G and BioScale to help these companies continue developing their business strategies.

“Being selected by the New York Angels is a boon for our technology product and business model,” said Ira Feinberg, CEO of Spotlight Data, a business metrics software firm. “While we will certainly benefit from the group’s financial support, we are equally excited about the strategic mentoring the New York Angels can provide to help position us for success.”

The New York Angels has invested a total of $2.0 million so far in 2005, with several other transactions in process. Lori Smith, partner at Goodwin Procter LLP, provided legal counsel to the investors in the Spotlight Data, MediaTile, Zero-G and BioScale investments.

In addition, the group has added Josh Kopelman, founder of, and Richard D. Forman, founder of (NASDAQ:RCOM), to its board of directors. Both high-profile entrepreneurs were elected by the membership and bring a common interest in helping technology start-ups become industry players. Kopelman and Forman join David Rose, Elaine Gilde and Howard Morgan on the board.

“I am happy to be part of New York Angels and support the organization’s mission to seek out the best and brightest entrepreneurs,” said Kopelman. “I look forward to lending my own experience to the early-stage companies in which we invest.”

“It is truly an exciting time for the New York Angels,” said Chris Saxman, executive director of the group. “In just 18 months, our membership has grown from 20 to 54. These angels manifest the type of industry savvy we need to solidify our business model. Our latest investments speak to our readiness to take advantage of the changing economic environment and to assist innovative entrepreneurs in bringing their business plans to fruition.”

New York Angels is the leading angel investment group in the New York metro area that invests in well-positioned start-ups as they get off the ground. Membership is very selective and includes past and current CEOs of high-growth technology companies, professional financiers and leaders of Fortune 500 companies. New York Angels maintains close relationships with leading venture capitalists to assist portfolio companies with follow-on financing.

About Josh Kopelman

Josh Kopelman serves as managing director of First Round Capital, a seed-stage venture fund. Considered a serial entrepreneur, he has been an active leader in the Internet industry since its commercialization. Kopelman was a co-founder of Infonautics Corporation, a publicly-traded Internet information company (NASDAQ: INFO); the founder of, the largest online seller of used books, music and movies in the world (sold to eBay in 2000); and a co-founder of the anti-spam company TurnTide (sold to Symantec in 2004).

About Richard D. Forman

Richard D. Forman is currently the managing member of RDF Ventures, LLC a private investment group. He was a co-founder of (NASDAQ:RCOM), which deregulated the market for domain name registrations and created one of the largest paying customer bases on the internet. He grew the company from under $1 million to more than $110 million in annual revenue and took it public in 2000. Forman was named Ernst & Young’s Entrepreneur of the Year in 2002.

About The MediaTile Company

The MediaTile Company is the world’s first provider of cellular digital signage solutions. The company delivers on-demand, web-based software and services for media management, media delivery and display control over cellular networks. The MediaTile solution eliminates the number one barrier for retailers and brands deploying digital signage: costly and complex on-site IT infrastructure. With MediaTile, more companies can now use networked digital signs in more places to directly influence customer purchase decisions. With its partners Verizon Wireless, Rollouts, and Proview, The MediaTile Company delivers a plug-and-play digital signage solution for brands, retailers and narrowcasters that saves millions of dollars in installation, maintenance and support. For more information, visit

About Spotlight Data

Spotlight Data Inc. provides the data collection and analysis software that solves the industry challenge of helping companies improve their business processes. The Spotlight Data Solution(TM) delivers a uniquely intimate level of real-time process data collection and powerful analysis. It supports all processes and is comprehensive, powerful and very economical to employ. Over seventeen years of process metrics systems and software experience have culminated in the new Spotlight Data Solution(TM). For more information, visit

About Content Directions, Inc. (CDI)

CDI helps companies maximize the commercial effectiveness of their web presence by applying next generation web navigation tools and techniques. It is the industry leader in Digital Object Identifier (DOI) technology, the next generation in Web navigation developed by Dr. Robert Kahn, the primary inventor of the Internet and recent recipient of the Turing Award. For more information, visit

About Zero Gravity Corporation

Zero Gravity Corporation (ZERO-G(R)) is a privately held space entertainment and tourism company whose mission is to make the excitement and adventure of space accessible to the public. ZERO-G is the first and only FAA-approved provider of weightless flight, termed The ZERO-G Experience. The ZERO-G Experience includes a full-day program led by a veteran astronaut, in which a flyer (the customer) experiences Martian, Lunar, and Zero Gravity conditions. It is conducted aboard G-FORCE ONE – a specially modified Boeing 727-200 cargo aircraft. ZERO-G’s aircraft partner is Amerijet International, Inc., the Fort Lauderdale-based cargo transportation and logistics provider. Zero Gravity Corporation is headquartered in Dania Beach, Florida, and its flight operations are conducted out of Fort Lauderdale-Hollywood International Airport. For more information, visit

About BioScale, Inc.

BioScale, still in stealth mode, will provide instruments and MEMS-based biochips for a variety of biodetection applications.

About New York Angels, Inc.

New York Angels is the leading angel investment group in the New York metro area that invests in well-positioned start-ups as they get off the ground. Its mission is to provide opportunities for its members to obtain outstanding financial returns by investing in early stage technology and other high-growth companies in the Northeast and accelerating them to market leadership. The group’s members provide seed and early stage capital up to $1 million, an investment range not generally served by venture capital funds. Members, who have founded businesses and served as CEOs and venture capitalists, seek to apply their hard-earned lessons by mentoring and coaching the entrepreneurs in whom they invest. Since 1997, the group and its predecessor have invested more than $21 million in 62 ventures. For more information, visit

To submit a business plan to be considered for funding, visit

To learn about becoming a member of New York Angels, contact Mr. Saxman at

New York Angels would like to acknowledge its corporate sponsors, which ably serve early stage companies in the New York City area:

Legal Sponsor: Goodwin Procter LLP (

PR Sponsor: Articulate Communications Inc. (

Accounting Sponsor: PricewaterhouseCoopers (

Editor’s Note: On Wednesday, June 1, 2005 from 5:30 p.m. to 8:30 p.m. Goodwin Procter and the MIT Enterprise Forum of New York are pleased to present a live panel discussion entitled Angel Groups in Action: Funding Early Stage Innovation, featuring angel groups from NY, NJ, and PA, followed by a satellite broadcast from the MIT Campus. Panelists include:

–David S. Rose, New York Angels, New York, NY

–Samer Hamadeh, Vault Inc., New York, NY

–Stephanie Hanbury-Brown, Golden Seeds LLC, New York, NY

–Chris Saxman, New York Angels, New York, NY

–Kenneth Kay, Jumpstart New Jersey Angel Network, NJ

–Christopher Starr, MidAtlantic Angel Group Fund, Philadelphia, PA

–Edward D. Gorkes, Robin Hood Ventures, North Wales, PA

Go to for more information.

It will be located at Goodwin Procter LLP, 599 Lexington Avenue, 37th Floor, New York, NY 10022, the MIT Enterprise Forum, Inc. To attend, RSVP to Tammy Borowick at or via phone at 617.570.8109 by May 27.

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