The Associated Press, Iron Capital, And Crosscut Ventures Invest $3 Million Into Verve Wireless
“Mobile is actually a better way to reach people than print or even Web. It’s versatile, immediate, travels and is just as compelling–if it’s done right–as a Web site or a printed page,” stated Art Howe, CEO of Verve Wireless Inc.
Verve Wireless Inc. provides mobile software called Verve Publishing Platform. This platform is used heavily by online newspaper companies such as The Associated Press, the New York Times, The Boston Globe, etc. These online newspaper companies have used Verve’s platform to create iPhone versions of their sites. Verve currently powers 4,000 newspapers across 140 publishers with their software.
The Associated Press signed on with Verve this past May and decided that they were going to invest in the company since they were happy with the platform. Iron Capital and Crosscut Ventures joined Associated Press in the $3 million Series B investment in Verve Wireless.
The founders of Verve Wireless are Tom Kenney and Art Howe. Both of them raised $2.5 million in seed funding to get the company up and running. The Verve Publishing Platform is available for free to the newspaper publishing companies, but they take a cut out of advertising revenue. Verve competes with Crisp Wireless. Crisp represents Hearst, Gannett, and Tribune Interactive.@amitchowdhry or on Google+ at +AmitChowdhry