|[March 19, 2013]
NewsCred Closes $15 Million Financing Round to Reinvent Marketing Through Quality Content
NEW YORK --(Business Wire)--
the world's leading content marketing and syndication platform, today
announced its $15 million financing round led by Mayfield Fund, with
participation by new investor Greycroft Partners and existing investors
FirstMark Capital and IA Ventures. With this investment, NewsCred will
accelerate its mission to deliver quality content experiences to the
world's most powerful brands, enabling marketers and publishers to drive
traffic, leads and revenue through content marketing. The company also
announced that Rajeev Batra, Partner at Mayfield Fund, will join
NewsCred's board of directors.
"Last year was a banner year for NewsCred. We saw an 11-fold increase in
revenue, a 570% growth in new customers and we acquired Daylife, the
acclaimed cloud publishing platform. We proved that our products and
services answer a universal question looming over every marketer: how do
I access the quality and volume of content that I need to fuel and scale
my marketing initiatives across social media, e-mail and the web " said
Shafqat Islam, Chief Executive Officer, NewsCred. "As the demand for
content marketing resources explodes, we have the strategy and capital
necessary to execute with purpose and speed."
NewsCred's product suite includes fully licensed content from over 2,500
world-class publishers, including The New York Times, The Guardian and
The Economist; the publishing tools and teams necessary to curate and
tailor content experiences; and the technology needed to design and
build campaigns with speed and scale. By activating quality content
across integrated marketing initiatives, NewsCred clients like Pepsi,
General Electric, Johnson & Johnson, Overstock.com, Toyota and AIG are
demonstrating the ROI of content marketing through increased social
traffic, lead generation and revenue growth.
"As the leading content marketing and syndication platform, NewsCred is
enabling its clients to drive exponential growth in traffic fom social
referrals, triple digit percentage increase in unique visitors and
double digit percentage growth in email open rates," said Rajeev Batra,
Partner, Mayfield Fund. "Marketing is being disrupted by software, Big
Data and the need for high quality content, which we have witnessed
firsthand given our involvement with several leading marketing software
companies. For marketers, content is the currency for establishing
authentic relationships with their consumers. We are excited to partner
with the NewsCred team, which has demonstrated the vision and execution
to dominate the content marketing space."
In the coming year, NewsCred will use this investment to rapidly scale
the development of its products and technology for Fortune 500 brands.
Through its trusted relationships with brands, publishers, and
technology partners, NewsCred will continue to make it effortless for
marketers to publish quality content on any channel - social, web,
mobile as well as marketing automation and social publishing platforms.
"We're investing in NewsCred because we see them as the definitive
leader in the content marketing industry," said Alan Patricof, Managing
Director, Greycroft Partners and longtime investor in Buddy Media (News - Alert). "More
than 30% of marketers' budgets will be devoted to content marketing this
year. Global brands are looking for trusted partners with the experience
and creativity to deliver quality content experiences, consistently and
at scale. With today's investment, NewsCred will be the go-to partner
for every brand and publisher in the content ecosystem."
NewsCred has raised $5M in previous rounds of funding from prominent
investors, including FirstMark Capital, IA Ventures, Floodgate Fund,
Lerer Ventures, AOL (News - Alert) Ventures and others.
NewsCred puts content at the heart of every business. As the world's
leading content marketing and syndication platform, NewsCred provides
brands and publishers with access to fully-licensed articles, images and
video from more than 2,500 world-class sources.
Through powerful curation technology and an experienced editorial team,
NewsCred empowers brands and publishers to drive new revenue and deliver
the content their audiences need, want and share. The company builds
custom content solutions with speed and scale - from niche editorial
sections and thought leadership portals to social media and email
Founded in 2008 by Shafqat Islam, Iraj Islam and Asif Rahman, NewsCred
has offices in New York, London and Dhaka. Learn more at newscred.com and
follow us on Twitter (News - Alert) @newscred.
About Mayfield Fund
Mayfield Fund is a global venture capital firm with over $3 billion
under management and a 43-year history of investing in relationships.
Mayfield invests primarily in early-stage IT companies that leverage the
drivers of mobile, cloud/SaaS (News - Alert), social, energy tech, and big data. Since
its founding in 1969, the firm has invested in more than 500 companies,
resulting in over 100 IPOs and more than 100 mergers or acquisitions.
For more information, visit www.mayfield.com.
About Greycroft Partners LLC
Greycroft Partners LLC is a venture capital partnership, formed to
invest in promising Internet and digital media companies. With offices
in New York and Los Angeles, Greycroft has deepened its bench to provide
significant resources to early stage companies in its area of focus and,
as a result, now has even greater coverage in these two markets. For
more information, visit http://greycroft.com/.
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