Mayfield Fund, Greycroft back $15m NewsCred financing


magazine3_lrgVenture capital firm Mayfield Fund has led a $15m financing round for news and content syndication and marketing business NewsCred.

Greycroft Partners also helped finance the company for the first time through the round, which coincided with the New York Times joining the company’s content licensing scheme.

Existing backers FirstMark Capital and IA Ventures re-upped their investments in the business.

NewsCred says it licenses content from more than 2,500 publishers including The Guardian and The Economist and provides customers with the tools and teams needed to curate and tailor the content they use.

Customers signed up to NewsCred’s content management system  include Pepsi, General Electric, Johnson & Johnson and AIG.

Mayfield Fund partner RajeevBatra will join NewsCred`s board of directors following the funding round.

He said, “As the leading content marketing and syndication platform, NewsCred is enabling its clients to drive exponential growth in traffic from social referrals, triple digit percentage increase in unique visitors and double digit percentage growth in email open rates.

“Marketing is being disrupted by software, big data and the need for high quality content, which we have witnessed firsthand given our involvement with several leading marketing software companies.

“For marketers, content is the currency for establishing authentic relationships with their consumers.”

Greycroft Partners managing director Alan Patricof said, “We`re investing in NewsCred because we see them as the definitive leader in the content marketing industry

“More than 30% of marketers` budgets will be devoted to content marketing this year.

“Global brands are looking for trusted partners with the experience and creativity to deliver quality content experiences, consistently and at scale.”

NewsCred had raised $5m in previous rounds of funding from investors including FirstMark Capital, IA Ventures, Floodgate Fund, Lerer Ventures and AOL Ventures.

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