Content marketing platform NewsCred has today (September 2) announced £26.7 million in growth equity funding, courtesy of New York-based FTV Capital.
The company offers software for helping brands plan and create their content, also managing the process of bringing articles out to the masses on a single platform.
NewsCred now employs nearly 200 people across seven offices, including London, New York and Dhaka.
The company sees the investment as a way of allowing it to ‘aggressively scale’ its UK and European operations.
NewsCred has reported that its customer base has doubled in the last year.
Commenting on the latest round of funding, the group’s CEO and co-founder Shafqat Islam described the current marketing playbook of traditional media buys and banners ads as ‘outdated and underperforming’, ‘focused on bombarding’ consumers with irrelevant messages.
“Moreover, the landscape has become increasingly complex. Marketers are tasked with scaling content across global teams, geographies and more than 40 marketing channels - websites, email, social, TV and more,” said Islam.
“Brands need a single platform to easily orchestrate all their marketing efforts. At NewsCred, we’re fiercely dedicated to making this a reality, enabling marketers to create the right content for the right people.”
The new cash boost almost matches the £28.6 million raised by NewsCred before this month. From this week forward, total investment in the company stands at an at an estimated £55.3 million since its founding in 2008.
Today’s announcement comes off the back of threefold annual revenue growth for NewsCred and a volley of new users across the UK and Europe, with latest clients including CapGemini, Barclays, Cisco, Dell, Toyota, Visa and Pepsi.
The company has also signed partnerships with agencies such as Havas Media Group, Mindshare, Fleishman Hillard, Digitas, Starcom MediaVest and Droga5.