ROANOKE RAPIDS, N.C. … Roanoke Technology (OTC: RNKE) has received $200,000 in funding from a group of private investors, the second installment of a $600,000 funding cycle that has a total funding potential of $3 million.

This second round of funding was obtained after the company filed a registration statement with the Securities and Exchange Commission on July 3 relating to the shares of stock underlying the convertible debentures. Another $200,000 will be received upon the effective date of the registration. The funds will be used to retire debt and to assist in enlarging Roanoke’s sales staff.

Roanoke operates three core businesses: Top-10 Promotions is a website promotion business that obtains search engine placements for client websites; RFQHosting provides small to medium businesses with access to an online procurement system that allows buyers to place their suppliers in a competitive bidding system; and RTCHosting and RTC Storebuilder allow anyone to build an online presence without any technical knowledge or training.

Roanoke Technology: