ScribbleLive raises $4 Million from Summerhill Venture Partners
Toronto's Scribble Technologies announced today that it has raised $4 million in new financing led by Summerhill Venture Partners.
As part of the today's announcement, Scribble shared that it is now working with four out of the top five news agencies in the world on innovative uses of the flagship service, ScribbleLive.
The financing reflects the 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," CEO Michael 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, an existing early stage investor, also participated in the financing.
Scribble offers a real-time content publishing platform that lets media companies such as 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.
