Irish media firm NewsWhip says it has raised $1.6 million in seed funding and plans to create a further 15 jobs between its offices in Dublin and New York.
Newswhip, which currently employs 15 people, provides publishers, PR firms and marketers information on what news stories are likely to trend, based on technology that tracks what stories are ‘spiking’ on social media channels at any given time.
Paul and Andrew smallNewsWhip co-founders, CTO Andrew Mullaney (left) and CEO Paul Quigley (right) say the company “can track and predict the virality of content in 40 languages based on how fast each story is getting traction”.
NewsWhip’s technology is used by international publishers like BuzzFeed, Bloomberg, The Daily Mail, the BBC and the Guardian. The $1.6 million was raised from several new backers, including The Associated Press, AIB Seed Capital Fund, Dublin’s Tribal Ventures, Silicon Valley’s 500 Startups, New York’s Social Starts, and San Francisco-based Matter. The funding will be used to develop the next generation of NewsWhip’s platform.
“Back in 2013 when NewsWhip was just a cool technology with hardly any revenue, thankfully some local backers saw the potential – in particular the AIB Seed Capital Fund. Thanks to their backing and that of Enterprise Ireland, we raised a $1m seed round to really sharpen up our product and how we market and sell it. Without that, I don’t think we would have survived, and it provided the base for NewsWhip to be now considered a global technology company,” says Paul Quigley.
“Using predictive modeling and machine learning algorithms, we can signal important stories in any industry. It’s an exciting time to be an engineer in this space, and we look forward to welcoming more talent to our team,” says Andrew Mullaney.
Details of career opportunities with NewsWhip are available here
The CareersPortal Team