Visanow raises $16 mln from General Catalyst on immigration bet SAN FRANCISCO (Reuters) - As President Barack Obama's vow to act on immigration brings the contentious issue back to the public eye, one company is betting that U.S. visa services will remain a lucrative business no matter what the political outcome. Visanow, a Chicago-based company that helps individuals navigate immigration procedures, said it had raised $16 million in funding from venture-capital firm General Catalyst Partners. According to a Securities and Exchange Commission filing, some $2 million of that will go to officers or directors of the company. A spokeswoman for the company declined to elaborate. The company has an option to raise $6 million more, for a total of $22 million. Each year, some 500,000 people become U.S. citizens, according to U.S. Citizenship and Immigration Services. Many more seek rights to visit or live in the United States on a temporary basis. This year, some 172,500 applications were filed for 85,000 H-1B visa slots, a popular category designed for professionals. The paperwork involved has created a market many companies are tapping. Competitors include LegalZoom, Teleborder, and Bridge.US. Visanow says it will use the funds to grow in its niche of catering to individuals and small to medium-sized businesses. Its tools help smaller U.S. businesses compete for overseas talent with larger ones, something immigration-related legal bills might otherwise make unaffordable, said Bob Meltzer, Visanow chief executive. General Catalyst Executive-in-Residence Scott Griffith and Managing Director Brian Shortsleeve will join Visanow's board, along with former Small Business Administration head Karen Mills. Reporting by Sarah McBride; Editing by Cynthia Osterman and Andrea Ricci