The fact that a Madison-based tech company could raise $7 million in venture capital in the current financing climate is noteworthy. That the financing was led by one of the premier Silicon Valley venture capital firms may be the bigger story.
Local and state leaders have long acknowledged the importance of tapping into the big money financing firms on both coasts for the money, contacts and expertise necessary for the areaâ??s developing tech sector to reach its potential. To aid such efforts, officials have organized special fund-seeking trips to places like Boston and Silicon Valley. The Wisconsin Alumni Research Foundation even opened an office in California.