Dive Brief:
- Martech remains a robust sector and the latest evidence comes with content marketing platform NewsCred’s announcing of $42 million in new funding.
- The investment group includes FTV Capital, FirstMark Capital, InterWest Partners and Mayfield Fund.
- This latest round raises the New York-based content marketing platform's total funding to almost $90 million.
Dive Insight:
Marketing technology is ripe for growth with new players joining the field, major deals ranging from tech giants snapping up martech firms to complementary companies joining forces, and firms in the sector getting interest from investors. NewsCred, a content marketing platform, is the latest beneficiary with a $42 million investment.
Shafqat Islam, CEO of NewsCred, said in a statement about the funding, “Our business is doing exceptionally well. In the last year, our annual recurring revenue grew three times and our customer base grew two times. In addition, the Fortune 2000 represents 40% of our customer base and we serve customers in more than 70 global markets.”
He added the investment would go toward scaling global operations to meet content marketing demand from enterprise brands. The company launched in 2008 as a news aggregation service and has since pivoted to become the current content marketing platform.