InterWest Partners fund NewsCred's European growth
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Making waves in new media
The marketing tech company’s presence in London could dramatically change European advertising through its licensed-content model which sells content from media owners such as the BBC, The Daily Telegraph, or The Guardian to brands for advertising.
Businesses can use NewsCred’s Content Marketing Cloud to access the world’s largest collection of licensed articles, images and videos from over 4,500 publishers. Brands can also directly commission journalists to create content for them.
Major brands such as Johnson & Johnson and Procter & Gamble have diverted advertising budgets towards new publishing and branded content.
Total funding of £29m
This round of funding was led by InterWest Partners with existing partners such as Mayfield Fund, First Mark Capital and IA Ventures. NewsCred has raised about £29 million in funding so far.
Doug Pepper, General Partner at InterWest Partners explained that NewsCred’s model could provide a new model for publishing companies to generate revenue.
The publishing industry in the UK and Europe has been under pressure, but NewsCred has created a way to drive new revenues to this sector.
NewsCred will use its investment to increase its network of content-producing journalists in the UK and expand its network of European media owners to meet demands for local language content. The funding will also allow NewsCred to boost its sales operations in Europe and US.