NewsCred Banks $42 Million In Additional Funding
- Written by Brian Anderson
- Published in Financial News
NewsCred, a content marketing platform, announced it raised $42 million in funding, bringing the company’s total funding to nearly $90 million to date.
The seven-year-old company has experienced considerable growth over the past year; annual recurring revenue tripled, and its customer base doubled. The company also expanded its employee base to 200 split among seven global offices.
In a blog post highlighting the announcement, NewsCred Co-founder and CEO Shafqat Islam said the additional funding would enable his company “to aggressively scale our global operations as we serve the incredible demand for content marketing from enterprise brands.”
Islam also noted that 40% of NewsCred’s customer base are Fortune 2000 brands. “For marketers to succeed today, they need a single platform to easily orchestrate all of their efforts across every channel,” Islam said. “At NewsCred, we’re fiercely dedicated to making this a reality.”
The funding was led by FTV Capital, along with existing investors FirstMark Capital, InterWest Partners, and Mayfield Fund. Liron Gitig, Partner at FTV Capital, has joined NewsCred’s Board of Directors as part of the deal.