NewsGator closes on $12 million funding
By Jeff Smith, Rocky Mountain News (Contact)
Published December 13, 2007 at 12:05 a.m.
Denver-based NewsGator Technologies Inc., which aggregates news published on the Internet, said it has closed on $12 million of funding, pushing its total to $30 million in three rounds.
The round was led by Vista Ventures, a new investor, and existing investors Mobius Venture Capital and Masthead Venture Partners.
J.B. Holston, NewsGator's chief executive officer, said the four-year-old company would use the proceeds to expand marketing and sales efforts in the United States, Europe and Japan, with the goal to become break-even as a company. He wouldn't disclose annual revenues.
The company provides server and software services to about 50 media companies. Its best-known consumer products are Web news feeders called FeedDemon and NetNewsWire, the former for IBM-compatible personal computers, or PCs, and the latter for Apple Macintosh computers.
NewsGator has 75 employees, including 65 in Colorado, and will add about 25 employees in the next 18 months mostly outside the state, Holston said.
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December 14, 2007
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ebmike writes:
I must admit that I just dont understand what they are doing with 30
million in VC funding!!
Our products are much better than theirs and we developed ours
including our RSS Server for a fraction of that amount of money?
http://www.easybyte.com/products/ente...
Just doesn't make sense, they must be doing something else....