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InterWest backs content marketing company NewsCred

23 Jan 2014

stock brokerage market share listedContent marketing platform NewsCred has raised $25m in a funding round led by venture capital firm InterWest Partners.

The company said it will use the funds to expand its global operations with a focus on sales, technology and product development.

Last year, NewsCred saw its revenues surge 400 per cent as its customer base tripled. Its clients include Procter & Gamble, Capgemini, Blue Cross Blue Shield, General Electric, Xerox, Visa, Johnson & Johnson, AIG, The Hearst Corporation, and Time Inc.

Mayfield Fund, FirstMark Capital and IA Ventures also participated in the round, which takes the company’s fundraising total to $45m.

InterWest general partner Doug Pepper said, “In NewsCred, InterWest sees an opportunity in the $44bn content marketing space that is comparable to what we saw with companies like Marketo, Optimizely and Spredfast.

“By any metric – number of customers, revenue and mindshare – NewsCred is the definitive leader in an important new software category, driven by product innovation and thought leadership.”

InterWest’s recent deals included an investment shared storage infrastructure business Pivot3 as part of a $14m round.

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