RIFT.io Raises $7.9 Million

Originally posted on CityBizList


According to an SEC filing, RIFT.io, Inc. has raised $7.9 million or 79% of a $10 million equity offering, from eight investors.

Burlington-based RIFT.io is a stealth startup developing some communications technology. It was founded in 2013 by CEO Greg Alden, Chief Development Officer Matt Harper and Chief Technical Officer Tim Mortsolf.

Prior to RIFT.io, Alden served as a vice president at Movik Networks. He also has held the position of vice president at Starent Networks, which was acquired by Cisco. Previously Alden was the COO of Nexius Networks, which was acquired by comScore.