Voxant news feed idea rakes in $10.5 million in funding
Amit Chowdhry | Friday September 22, 2006 | 632 views
Next month, Voxant will be launching a service where news content from news feeds and blogs will be “mashed up” and served for the public. The Virginia-based company raised $10.5 million in funding this month. Voxant’s product, Viral Syndication Network has plans to distribute news broadcasts, prints, and other forms of multimedia.
This is Voxant’s second round of funding and the checks were handed over by SoftBank Capital of Boston and Court Square Ventures. Longworth Venture Partners of Boston was Voxant’s intial funding source.
The allocated funds will go towards the launching of TheNewsRoom.com. Through this website, small-to-large sized news publishers will be able to distribute fully licensed prints, video, audio, and still photo news contents to the unlimited sources of web sites and blogs existent today. Both content providers and distributors will benefit from the revenue generated by the news feeds.
“This funding enables us to accelerate our product development and extend our services to meet the demands of our growing number of content partners and thousands of Web publishers who are seeking credible and diverse news content†stated CEO of Voxant, Jeff Crigler. “It’s great to have partners of the stature of SoftBank Capital, Court Square and Longworth, who have deep expertise in digital media, share our strategic vision for the online news market, and have the ability to help Voxant reach its full potential.â€
Services like TheNewsRoom.com will be very beneficial on a large-scale. Consolidating news information is definetely existent but limited to a few number of sites such as Google News and sometimes input from key players can go unnoticed. “Information is power” and centralization makes attaining such power a whole lot easier.
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