Posted September 13th, 2010
Software developer Neil Mody has not invented the popular “related content” function for publishing sites, but he is enhancing it.
Founded last July, Mody's company, nrelate, says it offers online publishers a more advanced related-content technology, which pairs a site's content with related stories from either the publisher's site or the Web.
Six months after Mr. Mody started his company, nrelate landed a spot at the NYU-Poly Varick Street Incubator, a 17,000 square-foot building housing 30 companies. The incubator, founded in 2008 following the economic downturn, is jointly sponsored by New York City's Economic Development Corp. and the Polytechnic Institute of New York University. Paying subsidized rent ($750 a month) and being surrounded by other start-ups has given nrelate a leg up. “We would have had to pay at least $3,000 a month for comparable space,” says Mr. Mody.
Since joining Varick Street in November 2009, nrelate has grown to 10 employees from two and raised $200,000 in funding.