O’Reilly AlphaTech Ventures, the corporate venturing unit of US-based media company O’Reilly Media, has helped Bit.ly, a US-based URL shortening company, raise $15m. The round was led by venture firm Khosla Ventures and also included RRE Ventures. In 2010 Bitly raised $10m in a series B round, which was also backed by AOL’s corporate venturing unit, AOL Ventures, as well as early stage investment company Betaworks venture firms SV Angel and Founders Fund. Angels Mitch Kapor, Jeff Clavier, the Accelerator Group and Social Leverage backed the company’s $2m A round in 2009, according to news provider Read Write Web. In 2008 Bitly was launched by Betaworks, an early stage investment company.

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