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Grow Utah Ventures invests in Salt Lake-based Revinetix

March 15, 2006 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Salt Lake-based Revinetix http://www.revinetix.com/ said Tuesday that private equity fund Grow Utah Ventures http://www.growutahventures.com/ has invested an undisclosed amount in the company "and spurred additional investment through Grow Utah’s network of formal and informal angel investors throughout the state."

Revinetix develops data backup and recovery products.

Chief executive officer and chairman Steve "Max" Ackerman said the funding will "allow us to accelerate the rollout of new technologies, more aggressively penetrate key markets and ultimately achieve our growth objectives."

Full Story: http://deseretnews.com/dn/view/0,1249,635191790,00.html

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Prospera helps businesses and communities find their pathway to success, acting as the navigator, problem solver and catalyst for a strong Montana economy.

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