Along with the funding announcement, NewsCred also reported that Mayfield Fund partner Rajeev Batra will join its board of directors.
Content marketing firm NewsCred has received $15 million in its Series B round of funding.
Investors this round included Greycroft Partners, Mayfield Fund, FirstMark Capital, and IA Ventures. Along with the funding announcement, NewsCred also reported that Mayfield Fund partner Rajeev Batra will join its board of directors.
"Marketing is being disrupted by software, big data, and the need for high-quality content, which we have witnessed firsthand given our involvement with the foremost marketing automation company, Marketo," said Rajeev Batra, Mayfield Fund partner.
"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."
NewsCred provides licensed content to publishers and brands; its clients include Pepsi and Forbes. The New York-based company says its services allow companies to create better content that increases audience engagement.
Recent NewsCred board member Batra comes to the firm from the Mayfield Fund. Batra has over 10 years experience in the venture capital field. Prior to his work in venture capital, Batra held a variety of positions at software firms Scopus Technology, Open Environment Corporation, and Siebel Systems.
Funding for NewsCred comes following a strong financial year. In 2012, the firm saw an increase in revenue. The news moved the firm to acquire cloud publishing platform firm Daylife. NewCred's purchase was completed last October.
"Last year was a banner year for NewsCred. We saw an 11-fold increase in revenue, a 570 percent growth in new customers, and we acquired Daylife, the acclaimed cloud publishing platform," says NewsCred CEO Shafqat Islam.
"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, email, and the web? As the demand for content marketing resources explodes, we have the strategy and capital necessary to continuously execute."
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) brings together the industry's leading practitioners and marketing strategists to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, this year's comprehensive agenda will help you maximize your marketing efforts and ROI. Register today!
James is a freelance writer and editor. In addition to ClickZ, his work has appeared in publications like V3, The Commonwealth Club, CachedTech.com, and Shonen Jump magazine. He studied Journalism at Weber State University.
The Marketer's Guide to Customer Loyalty
Customer loyalty is imperative to success, but fostering and maintaining loyalty takes a lot of work. This guide is here to help marketers build, execute, and maintain a successful loyalty initiative.
The Multiplier Effect of Integrating Search & Social Advertising
Latest research reveals 68% higher revenue per conversion for marketers who integrate their search & social advertising. In addition to the research results, this whitepaper also outlines 5 strategies and 15 tactics you can use to better integrate your search and social campaigns.