Capital NY News Website Raises $1.7 Million

Posted Aug 25, 2011

Capital New York is a year old news website that focuses on “how things work in New York.” The company has raised $1.7 million and is planning on increasing their staff as a result. The company hired three people from the Observer and Yahoo! News media reporter Joe Pompeo.

Capital New York was started by two former Observer editors named Josh Benson and Tom McGeveran. The funding in this round was by Adam Riggs of Riggs will be on the company board of directors.

Capital NY will use the funding to increase reporting and add staff for their engineering and sales staff. The three hires from Observer includes political reporters Azi Paybarah, Reid Pillifant, and Dana Rubinstein.