Palo Alto-Based Sitoa Global Raises $500,000 from Ingenium Capital

Palo Alto,. Calif. -- Sitoa Global, a Palo Alto-based provider of an e-commerce platform and services, said on Monday it has landed a new $500,000 investment from European private equity firm Ingenium Capital. Under the deal, Ingenium also has the option to invest $300,000 more. Sitoa said it will use the funds to continue expanding into the social e-commerce segment. "Given the recent public company offerings in social media and specialized software as a service, we believe that now is an appropriate time to raise expansion capital," said George Yu, the company's president and CEO. Sitoa's platform, known as the "Focused Social Marketplace," enables online retailers to deploy social e-commerce sites.
http://www.sitoaglobal.com
http://www.marketwatch.com/story/sitoa-global-announces-investment-from-private-equity-firm-ingenium-capital-2012-07-23