Fwix, the real-time local newswire, revealed the amount of its $2.75m Series A funding from BlueRun Ventures.
The funds will allow the San Francisco-based company to continue the rapid expansion of the Fwix network and its proprietary technology.
Fwix announced that it will be opening its API platform, giving bloggers and site publishers the ability to add local news to their sites and applications to better serve readers.
Explaining the reason of the strategy, Darian Shirazi, founder and CEO of Fwix, was reported as saying: “our goal is to bring the best and most relevant local content to the largest readership possible.
“For the past few months, our API has been used by a number of partners and now we’re pleased to open it to everyone. Additionally, BlueRun’s investment only accelerates our goal to become the local newswire”.
Commenting on the investment, Jonathan Ebinger from BlueRun Ventures, said: “We see Fwix as a key company in helping everyone from big online media outlets to smaller local news bloggers reach larger audiences with the most relevant quality content.
“This enables sites to better monetize a larger audience, while readers simply receive the best local content available. It’s not often that we find bankable companies whose clear path to success really offers the potential to lift up an entire industry, but we’ve found that in Fwix.”
FinSMEs
21/09/2009