NewsCred said it raised a $4 million Series A round of funding led by FirstMark Capital and joined by Lerer Ventures, AOL Ventures and Advancit Capital. The company said the funding closed last month. It also said that last September it raised a $750,000 seed round from FLOODGATE, IA Ventures and Naval Ravikant, all of whom participated in the Series A.
Reinventing News Syndication
Written by Shafqat
Later today, I’ll be speaking at the Business Insider Ignition conference about how NewsCred is reinventing news syndication – helping publishers and brands get their content everywhere and profit. We’ve been hard at work for the past couple of years building a transformative business in a challenging industry, and we’re happy to finally take the covers off today!
We’re also excited to announce that last month we raised a $4M Series A led by FirstMark Capital (Amish Jani), with participation from Lerer Ventures, AOL Ventures and Advancit Capital. In fact, this is our second institutional round: last September, we raised a $750K seed round from FLOODGATE, IA Ventures and Naval Ravikant. All our existing investors participated in our Series A as well. We never announced the original seed round because I think funding announcements are akin to celebrating at the starting line of a marathon. Instead, what we’re announcing today is something bigger – backed by an incredible team of 25 passionate colleagues, 10 investors, 700+ content partners and thousands of journalists, we’re changing the way we connect audiences with high quality journalism.
NewsCred was founded 3 years ago with the vision to reinvent the news: how it’s sourced, licensed, distributed and paid for.
Technology has redefined journalism in every way, creating a huge need and opportunity for the industry.:
1. Content creators need to find new revenue options, new outlets for distribution and ways to repurpose news across multiple devices and platforms.
2. Publishers and brands need ways to license high quality, differentiated content at lower costs. The same commoditized wire story just won’t do in a world where there are no longer physical distribution barriers. They also need to extract more revenue out of that content.
3. Audiences now expect and want to engage with multiple, competing approaches of journalism – from established blogs to traditional newspapers, magazine publishers to journals, mobile pictures to iPad magazines.
We solve all of these problems. We believe that everyone should have access to quality journalism. With over 700 of the world’s highest quality news sources – ranging from international newspapers to bloggers and independent magazines – we provide publishers and brands with fully licensed, full text articles, photos and videos from sources like The Economist, Forbes, Telegraph, The Guardian, McClatchy/Tribune Newspapers, Bloomberg, Reuters, the LA Times and more.
By sourcing and licensing amazing content across all subjects and from a huge range of voices and perspectives, we’ve created a single platform for the world’s best editorial. In doing so, we’re delivering millions of dollars of revenue back into the news ecosystem, and helping an important industry find new models to not just survive, but thrive.