Technology driven venture capital firm Battery Ventures and Advanced Technology Ventures, a venture capital firm with more than $1.8bn in capital under management, has participated in a $1.2m seed funding round for online conflict resolution platform Modria, a spin-out from eBay and its subsidiary PayPal. There was also involvement from leading angel investor Esther Dyson and Mitch Kapor, founder of Lotus Development Corporation.
Modria is hoping to raise $4m in a Series A round, according to founder and Chief Executive Colin Rule, as reported on The Wall Street Journal Blog . Modria’s technology was developed at eBay and has modules that diagnose problems and try to get the parties to communicate online.
Rule commented: “We want to build the justice system for the internet”.