SendtoNews Bags $3M Venture Funding

SendtoNews, a news agency with operations in the US and Canada, has landed $3 million in VC funding from a BC-based investment group affiliated with RevenueWire: Don Wharton, Elton Pereira, Adrian Pereira and Myron Pereira. The company will roll out a sports video network next.

PRESS RELEASE:

SendtoNews Raises $3M Venture Funding from RevenueWire Co-Founders to Roll Out Sports Video Network
VANCOUVER, NEW YORK AND SAN FRANCISCO, CA, SEPT. 13, 2012 – Digital news agency SendtoNews today announced that it has secured $3 million in venture funding from a BC-based investment group comprising the co-founders of RevenueWire Inc.: Don Wharton, Elton Pereira, Adrian Pereira and Myron Pereira. All the funds will be used to roll out a new North American digital sports video distribution network, the SendtoNews News Partnership Network™.
“We now have the financing to complete the launch of the continent’s first expansive sports video distribution network for the digital age,” said company CEO Greg Bobolo. “Initial interest from newsrooms is very high and we are in active discussions with more than 30 strategic partners.”
Elton Pereira said, “Viewers in the U.S. alone watch a total of 1.6 billion online sports videos every month, providing an attractive market opportunity for any company that can deliver and monetize quality online sports video at scale. We have observed SendtoNews rapidly emerging as a leader in this area.”
The SendtoNews News Partnership Network™ is a guaranteed, centralized network for multimedia sports content to be gathered and distributed across North America from the hyper-local to regional and national levels.
Traditional and digital news agencies who become partners in the News Partnership Network™ will instantly plug into a rich library of sought after, premium digital sports content and thereby access a wealth of new and innovative revenue streams that fuse the best of broadcast advertising with the customizability and monitoring of the internet.