Social Media Contact News Discovery Startup Newsle Raises $1.65 Million
Newsle is a news discovery company that has raised $1.65 million in Series A funding. This round of funding was led by Advance Publications. Other investors that participated in this round includes Maveron Venture Partners, Draper Fisher Jurvetson, Transmedia Capital, and Launny Steffens. Previous investor Rockwell Schnabel also participated in this round. Whitney Shaw, the president of American City Business Journals, has joined Newsle’s board of directors.
“The Internet has transformed news, and effective businesspeople need tools to cope with this transformation,” stated Newsle co-founder Jonah Varon. “We help people find essential items they might otherwise miss in the flood of online news. This round of investment allows us to grow our team and further establish Newsle as the go-to resource for relevant news discovery.”
Newsle is known for sending daily newsletters containing news about your social media contacts. Newsle plans to use the funding to grow their development team and expand their product offerings. Newsle combs through millions of articles per day from over 100,000 news sources in real-time.
Newsle’s board of directors now include Jonah Varon (Newsle co-founder), Axel Hansen (Newsle co-founder), Whitney Shaw, and Ken Lerer (Lerer Ventures founder and Huffington Post co-founder). Newsle launched in private beta in January 2011. The company is available today in open beta.