The News Funnel Closes its First Round of Funding
$2 Million Raised for Business News Site
NEW YORK, January 14, 2014-- The News Funnel announced today that it has raised $2 million in Series A funding. Michael Beckerman, the company's founder and CEO and a public relations executive with more than 25 years of experience, is one of the site's largest investors. Additional investors include the Criscola family; Steve Siegel, chairman of Global Brokerage at CBRE; SL Investment Partners; The Hampshire Companies; Scott Landis, a principal of the Landis Group; and Jim Petrucci, founder and president of J.G. Petrucci Company, Inc.
The News Funnel builds customized news feeds for both business professionals as well as company websites. The site's first vertical is the real estate industry. Since its launch 18 months ago, The News Funnel has attracted several thousand real estate professionals to its free, customized news service and nearly 1,000 prominent companies have created Company News Channels on the site, a platform that uploads original content to subscribers.
The News Funnel retrieves industry-specific articles, press releases, blogs, videos, event announcements and market research reports from thousands of media sources as well as content from companies and associations. The news is collected from the most comprehensive set of sources in the real estate industry creating the largest searchable database of content available. The site's technology scans thousands of sources of content daily to determine relevance and then it streams it to subscribers in a 24/7 news feed.
"The closing of our first round is a significant milestone in our site's history," stated Michael Beckerman, CEO/founder of The News Funnel. "The response to The News Funnel in the marketplace has been very positive and we are excited about our future growth plans including launching new products and expanding into additional verticals," Beckerman concluded.
The News Funnel employs 10 full-time employees and is based in Morristown, N.J., and is available in 31 geographic markets.
About The News Funnel:
The News Funnel is the largest news search engine for the real estate industry. The free site features thousands of feeds, sourced and indexed from industry-specific trade publications, major media sources, companies and professionals. In addition to search, subscribers can create customizable real estate news feeds based on their geographic markets, industry segments and areas of interest, accessible on their personalized home pages that refresh 24/7.
In addition to pulling in news from thousands of media sources, The News Funnel features Company News Channels — web pages that are available at no charge to companies which can upload press releases, event notifications, blogs and market research reports that are made available to readers.
For more information, visit www.thenewsfunnel.com.
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