Compendium offers tools to help businesses create, manage and search-optimize blogs. The startup was founded six months ago by Chris Baggott, who also co-founded the fast-growing e-mail marketing software firm Exact Target, which now has more than 250 employees.
With the help of the state's venture capital investment tax credit, Baggott in January raised $250,000 for Compendium from local angels.
Compendium plans to use the newly raised $1.1 million to recruit key employees, continue developing its software, and start marketing and sales. Compendium plans to launch the beta version of its software this month.