News Filter and Feed, SkyGrid Raises $11 Million

Posted Aug 6, 2008

SkyGrid is a news aggregation and filtering service that is based in Sunnyvale, Calif.  SkyGrid has announced that they have raised $11 million as part of their Series B round of funding.  The lead investor was RRE Ventures.  Previous investor, BlackRock also participated.  Other previous investors includes Draper Fisher Jurvetson and Esther Dyson, a regular contributor to the Huffington Post.

SkyGrid scans millions of news sources and then filters out the important information.  SkyGrid was started in 2005 and is run by Kevin Pomplun.  SkyGrid looks very similar to Bloomberg’s software, but positive news stories are color coded green, negative stories are color coded red, and neutral are white.  Below is a screen shot from GigaOM.

SkyGrid has applied for several patents on their “sentiment algorithm” and seven other components of their search technology.  I haven’t seen any other search engine provide color-coded company stories and blog posts so I am definetely impressed.

SkyGrid’s services are about $500 per month.  The last round of funding added up to about $2.25 million.

Related Links:
1. SkyGrid
2. paidContent