Pulse2 Technology and Social Media News » Gather.com

Gather.com Raises $2.4 Million

Amit Chowdhry — Sat, 27 Nov 2010 01:09:10 +0000

Gather.com, a news website run by freelancers has raised $2.4 million in funding. Every month, Gather.com freelancers write over 8,000 articles. They receive about 7 million visitors per month. The company plans to use the funding to create an on-demand platform for publishers in a model that is similar to Demand Media. Gather currently works with writers that submit content and share revenue based on pageviews and engagement.

Gather.com CEO Tom Gerace said that they plan on using the funding to build a platform for automating the workflow for writers. The platform would automatically determine how successful the articles are. This is Gather’s Series E financing round and the investors include Jim Manzi, Allen & Co., Progress Ventures, and Nick McShane.

[TechCrunch]

Gather.com Raises $5.3 Million

Amit Chowdhry — Mon, 15 Jun 2009 02:24:48 +0000

Gather.com is a service focused on making new friends and forming new social circles. The company is based in Boston, Mass. and has announced that they have raised $5.3 million in funding from Allen & Co., American Public Media, Jim Manzi (former CEO of Lotus), Jack Connors (former CEO of Hill Holiday), Kevin McClatchy, Andrew Tobias, and the Gerace family.

Gather had increase sales of about 49% in the first quarter over the same period about a year ago. Gather raised VC funding because they needed additional capital to help fund operations. Based on the current run rate, the company expects to be profitable by early 2010.

This round of funding puts the company’s total at about $25 million. Most of the investors that participated in this round had participated in previous rounds as well.

[via NEVC Funding]