US-based media aggregator NewsCred raised $4m in round A funding a month ago from investors including AOL Ventures.
The round was led by FirstMark Capital with Lerer Ventures, Advancit Capital, Floodgate, IA Ventures and Naval Ravikant also participating. This followed a $750,000 seed round in September 2010, funded by IA, Floodgate and Ravikant.
The announcement of NewsCred’s latest funding was delayed, Newscred’s blog explaining: "funding announcements are akin to celebrating at the starting line of a marathon. Instead, what we’re announcing today is something bigger."
NewsCred was founded in 2008 and is attempting to change the business model for news providers and distributors.
The company originally tried to get users to rate the credibility of news but has since used its software to filter the huge quantities of online information and distribute it in the manner of a news wire.
Publishers pay to access the information and are themselves paid when their content is made available for use by others. News sources taking part include Forbes, The Guardian and The Economist.