Live blogging and real-time content market leader looks to aggressively
TORONTO, Nov. 10, 2011 /CNW/ - Scribble Technologies Inc., the world
leader in real-time content publishing and delivery, today announced
that it has raised $4 million in new financing led by Summerhill Venture Partners.
Additionally, Scribble is now working with four out of the top five news
agencies in the world on innovative uses of the flagship service, ScribbleLive™. "It is very exciting to have The Associated Press, The Press
Association, Agencia EFE and Thomson Reuters place such confidence in
our company, and we are looking forward to helping them drive their
real-time content plans in 2012," said Michael De Monte, Scribble's
chief executive officer.
The financing reflects the rapid emergence of the real-time content and
publishing marketplace, and how a growing number of news organizations
is driving engagement and readership by delivering breaking news as it
"We are delighted to be partnering with Summerhill to bring to market
the next step of the evolution of live blogging," De Monte said.
"Today's funding news marks the first major investment in live
blogging, which validates the demand consumers have for real-time
content as global events unfold."
Scribble will use the proceeds from the financing to strengthen its
market position and aggressively expand its sales, marketing and
software development activities. Rogers Ventures, an existing early stage investor, also participated in the financing.
"Scribble's live blogging platform is providing the world's leading
media companies with a robust way to meet the growing demands for
real-time coverage of news and events," said Gary Rubinoff, managing
partner with Summerhill. "We are excited to be partnering with the
talented team at Scribble as they continue to develop innovative
real-time web solutions for their expanding customer base."
Scribble offers a robust, flexible and powerful real-time content
publishing platform that lets media companies and large organizations
such as Mashable, the New York Daily News, CBS Sports and Sky News
deliver timely, relevant and engaging content. Scribble is attracting a
growing portfolio of customers looking for new ways to achieve a
competitive edge and stronger relationships with customers.
The financing will also allow Scribble to accelerate the growth of its
LiveArticle™ service, which represents the next evolution of
live-blogging. It enables news organizations to create a real-time news
article that summarizes an ongoing event. LiveArticle can feature
multiple contributors and includes photos, videos, audio files and
social media content.
About Scribble Technologies
ScribbleLive is a real-time content publishing and delivery platform
used by a growing number of the world's largest news organizations to
deliver enhanced coverage, drive engagement and create new revenue
Driven by the growing demand for real-time news and event coverage,
Scribble Technologies has established itself as a market leader by
providing news organizations with a robust, flexible and powerful
platform, which powers live blogging, real-time journalism and
Scribble Technologies is a privately-owned company headquartered in
About Summerhill Venture Partners
Summerhill Venture Partners is an early stage, thesis driven venture
capital firm focused on unique white space and converged opportunities
within the wireless, digital media, and software sectors. Summerhill
currently manages a US$175 million fund from offices in Toronto and
About Rogers Ventures
Rogers Ventures is the venture capital arm of Rogers Communications. Its
mandate is to invest in broadband enabled wire-line and wireless
companies with a focus on mobile finance, machine-to-machine, cloud
computing, and mobile advertising technologies. For more information
SOURCE Scribble Technologies Inc.
For further information:
The Hoffman Agency for Scribble Technologies Inc.
+1 (408) 286-2611