NowPublic gets 10.6 million USD

The press embargo finally lifted, so I'm happy to share that NowPublic closed a 10.6 milion USD series A round from Rho Ventures/Rho Canada, Brightspark, and the Working Opportunity Fund.

That's a lot of money and a big series A. However, since NowPublic's start two years ago, it has become one of the fastest growing news organizations in the world. By harnessing the wisdom of crowds and tapping into the news reporting potential of the hundreds of millions of internet users, eye witnesses, bloggers and photography enthusiasts, NowPublic is changing the way news is produced and distributed.

Step by step, NowPublic is building the platform that lets major news agencies outsource their news gathering process, and that is not to be taken lightly and not to be confused with sites like Digg or Slashdot. It won't be long until more major news agencies realize that NowPublic's on-the-ground network of news contributors will help them break more and better news stories at lower costs.

And of course, as NowPublic is built on Drupal, this is good news for Drupal too.

(Disclosure: I am an advisor to NowPublic.)

Comments

Khalid - 2bits (not verified):

This was on the CBC's web site today (Canada's public broadcaster), and I blogged it here.

July 30, 2007

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