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Innovation & Job News

ReelGenie closes $850K seed round

ReelGenie, the startup that allows ordinary folk to tell great stories online, announces today that it has closed an $850,000 seed round. "Most of the funding came from the D.C. region," says David Adelman, founder of ReelGenie.
Adelman says that although the District is often "much maligned" in terms of funding available for startups, "there is still plenty of money to be found." ReelGenie's primary investor is Cal Simmons, a local angel and the D.C. chair of the investment firm Tiger 21. Other investors include CNF Investments, the Maryland Venture Fund and professors from the Wharton School.
ReelGenie is planning a fall launch and will use the seed money to further develop its products for the public launch. Some funds are also slated for marketing and business development.
"Our go-to-market strategy is driven by the partnerships we're pursuing," Adelman says. When asked to comment further, Adelman declined, saying the company is not yet ready to make those partnerships public.
Now that the seed round has been fully funded, Adelman says he is most looking forward to "getting back to developing the product and getting ready for launch. This is a big opportunity," he says, "and we're ready to attack it."
ReelGenie is based in Silver Spring, Md., at the Silver Spring Innovations Center. Adelman calls it "a really cool part of the Montgomery County incubator network." 
"It's flexible office space that fits our needs perfectly," Adelman explains. "It's the right size, the right price, and we've got a supportive group of entrepreneurs around us."

Read more articles by Allyson Jacob.

Allyson Jacob is a writer originally hailing from Cincinnati, Ohio, and is the Innovation and Job News editor for Elevation DC. Her work has been featured in The Cincinnati Enquirer and Cincinnati CityBeat. Have a tip about a small business or start-up making waves inside the Beltway? Tell her here.
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