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Balderton backs social media-based breaking news site Banjo in $16m Series B

13 Mar 2014

news_newspaper3_lrgLondon-headquartered early stage investor Balderton Capital has led a $16m Series B financing round for breaking news and live events app Banjo.

The business takes text, pictures and video from social media users and journalists from other media companies and collates them on its own website as a live stream of event coverage.

BlueRun Ventures and Vegas Tech Fund also took part in the financing round, which brings the company’s total funding to $21m.

John Malloy, general partner and co-founder of BlueRun, said, “Banjo has harnessed the pervasive nature of mobile location technology and social platforms to create a unique real time events engine.

“For users this means a contextually relevant view of events as they unfold, anywhere, any time.

“For our media partners this unprecedented real time fusion with relevant social content adds context and extends the value of their offering.”

Balderton Capital partner Roberto Bonanzinga added, “In addition to being a destination for consumers, the media business is recognizing Banjo as a critical partner that provides access to on-the-ground content for breaking news and live events.

“We are impressed Banjo has been working side by side with media companies that include NBC, FOX and BBC to report real time events and news as they happen.

“This type of adoption is rare for companies at this stage, and I believe this is just the beginning.”

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