Scribble Technologies Raises $4 Million in Series a Funding With Lead Investor Summerhill Venture Partners
Poster: SySAdmin
Posted on November 10, 2011 at 8:49:01 AM
Scribble Technologies Raises $4 Million in Series a Funding With Lead Investor Summerhill Venture Partners
TORONTO, November 10, 2011/PRNewswire/ --
Live blogging and real-time content market leader looks to
aggressively drive growth
Scribble Technologies Inc., the world leader in real-time content
publishing and delivery, today announced that it has raised $4 million in
new financing led by Summerhill Venture Partners
[http://www.summerhillvp.com ].
Additionally, Scribble is now working with four out of the top five news
agencies in the world on innovative uses of the flagship service,
ScribbleLive [http://www.scribblelive.com ](TM). "It is very exciting to
have The Associated Press, The Press Association, Agencia EFE and Thomson
Reuters place such confidence in our company, and we are looking forward to
helping them drive their real-time content plans in 2012," said Michael De
Monte, Scribble's chief executive officer.
The financing reflects the rapid emergence of the real-time content and
publishing marketplace, and how a growing number of news organizations is
driving engagement and readership by delivering breaking news as it happens.
"We are delighted to be partnering with Summerhill to bring to market
the next step of the evolution of live blogging," De Monte said. "Today's
funding news marks the first major investment in live blogging, which
validates the demand consumers have for real-time content as global events
unfold."
Scribble will use the proceeds from the financing to strengthen its
market position and aggressively expand its sales, marketing and software
development activities. Rogers Ventures [http://www.rogersventures.com ], an
existing early stage investor, also participated in the financing.
"Scribble's live blogging platform is providing the world's leading
media companies with a robust way to meet the growing demands for real-time
coverage of news and events," said Gary Rubinoff, managing partner with
Summerhill. "We are excited to be partnering with the talented team at
Scribble as they continue to develop innovative real-time web solutions for
their expanding customer base."
Scribble offers a robust, flexible and powerful real-time content
publishing platform that lets media companies and large organizations such
as Mashable, the New York Daily News, CBS Sports and Sky News deliver
timely, relevant and engaging content. Scribble is attracting a growing
portfolio of customers looking for new ways to achieve a competitive edge
and stronger relationships with customers.
The financing will also allow Scribble to accelerate the growth of its
LiveArticle(TM) service, which represents the next evolution of
live-blogging. It enables news organizations to create a real-time news
article that summarizes an ongoing event. LiveArticle can feature multiple
contributors and includes photos, videos, audio files and social media
content.
About Scribble Technologies
ScribbleLive is a real-time content publishing and delivery platform
used by a growing number of the world's largest news organizations to
deliver enhanced coverage, drive engagement and create new revenue
opportunities.
Driven by the growing demand for real-time news and event coverage,
Scribble Technologies has established itself as a market leader by providing
news organizations with a robust, flexible and powerful platform, which
powers live blogging, real-time journalism and progressive storytelling.
Scribble Technologies is a privately-owned company headquartered in
Toronto, Canada.
About Summerhill Venture Partners
Summerhill Venture Partners is an early stage, thesis driven venture
capital firm focused on unique white space and converged opportunities
within the wireless, digital media, and software sectors. Summerhill
currently manages a US$175 million fund from offices in Toronto and Boston.
http://www.summerhillvp.com.
About Rogers Ventures
Rogers Ventures is the venture capital arm of Rogers Communications. Its
mandate is to invest in broadband enabled wire-line and wireless companies
with a focus on mobile finance, machine-to-machine, cloud computing, and
mobile advertising technologies. For more information visit
http://www.rogersventures.com.
For further information:
Press Contact:
Carlos Mangandy
The Hoffman Agency [http://www.hoffman.com ] for Scribble Technologies
Inc.
+1(408)286-2611
cmangandy@hoffman.com
Source: Scribble Technologies Inc
.
TORONTO, November 10, 2011/PRNewswire/ --
Live blogging and real-time content market leader looks to
aggressively drive growth
Scribble Technologies Inc., the world leader in real-time content
publishing and delivery, today announced that it has raised $4 million in
new financing led by Summerhill Venture Partners
[http://www.summerhillvp.com ].
Additionally, Scribble is now working with four out of the top five news
agencies in the world on innovative uses of the flagship service,
ScribbleLive [http://www.scribblelive.com ](TM). "It is very exciting to
have The Associated Press, The Press Association, Agencia EFE and Thomson
Reuters place such confidence in our company, and we are looking forward to
helping them drive their real-time content plans in 2012," said Michael De
Monte, Scribble's chief executive officer.
The financing reflects the rapid emergence of the real-time content and
publishing marketplace, and how a growing number of news organizations is
driving engagement and readership by delivering breaking news as it happens.
"We are delighted to be partnering with Summerhill to bring to market
the next step of the evolution of live blogging," De Monte said. "Today's
funding news marks the first major investment in live blogging, which
validates the demand consumers have for real-time content as global events
unfold."
Scribble will use the proceeds from the financing to strengthen its
market position and aggressively expand its sales, marketing and software
development activities. Rogers Ventures [http://www.rogersventures.com ], an
existing early stage investor, also participated in the financing.
"Scribble's live blogging platform is providing the world's leading
media companies with a robust way to meet the growing demands for real-time
coverage of news and events," said Gary Rubinoff, managing partner with
Summerhill. "We are excited to be partnering with the talented team at
Scribble as they continue to develop innovative real-time web solutions for
their expanding customer base."
Scribble offers a robust, flexible and powerful real-time content
publishing platform that lets media companies and large organizations such
as Mashable, the New York Daily News, CBS Sports and Sky News deliver
timely, relevant and engaging content. Scribble is attracting a growing
portfolio of customers looking for new ways to achieve a competitive edge
and stronger relationships with customers.
The financing will also allow Scribble to accelerate the growth of its
LiveArticle(TM) service, which represents the next evolution of
live-blogging. It enables news organizations to create a real-time news
article that summarizes an ongoing event. LiveArticle can feature multiple
contributors and includes photos, videos, audio files and social media
content.
About Scribble Technologies
ScribbleLive is a real-time content publishing and delivery platform
used by a growing number of the world's largest news organizations to
deliver enhanced coverage, drive engagement and create new revenue
opportunities.
Driven by the growing demand for real-time news and event coverage,
Scribble Technologies has established itself as a market leader by providing
news organizations with a robust, flexible and powerful platform, which
powers live blogging, real-time journalism and progressive storytelling.
Scribble Technologies is a privately-owned company headquartered in
Toronto, Canada.
About Summerhill Venture Partners
Summerhill Venture Partners is an early stage, thesis driven venture
capital firm focused on unique white space and converged opportunities
within the wireless, digital media, and software sectors. Summerhill
currently manages a US$175 million fund from offices in Toronto and Boston.
http://www.summerhillvp.com.
About Rogers Ventures
Rogers Ventures is the venture capital arm of Rogers Communications. Its
mandate is to invest in broadband enabled wire-line and wireless companies
with a focus on mobile finance, machine-to-machine, cloud computing, and
mobile advertising technologies. For more information visit
http://www.rogersventures.com.
For further information:
Press Contact:
Carlos Mangandy
The Hoffman Agency [http://www.hoffman.com ] for Scribble Technologies
Inc.
+1(408)286-2611
cmangandy@hoffman.com
Source: Scribble Technologies Inc
.