ScribbleLive is today announcing the closing of a $12 million Series C investment led by WIN (Waterloo Innovation Network) Fund with all of the company’s existing investors also participating. The company plans to use the cash injection to open new international offices and execute strategic acquisitions.
Along with WIN, Georgian Partners, Export Development Canada, Summerhill Venture Partners and Rogers Venture Partners also participating in the Series C round. This latest round of financing brings the total amount raised by the company to $20 million.
“Scribble continues to lead a fundamental shift in the way marketers and publishers engage with their customers using content and content software, with over 500 enterprise customers including some of the world’s biggest brands” said Vincent Mifsud, CEO of Scribble, said in a released statement. “We are a fast growing, cash-flow positive business and we see tremendous opportunity in the market. We welcomed this round of funding as it allows us to further accelerate our growth, providing resources to open new international offices and make strategic acquisitions.”
Based in Toronto, ScribbleLive was founded in 2008 and grew from a live blogging platform to a content syndication marketplace that allows brands and companies to create and distribute content designed to engage their audience.
Just three months ago ScribbleLive acquired CoveritLive from Demand Media, effectively bringing two of the largest live content creation companies under one roof. This funding raise should help further its domination of the market.
With the addition of CoveritLive’s account, ScribbleLive now powers online engagement for an impressive number of companies, including over 1,500 total customers, the NFL, NBA, NHL, MLB and all three of the U.S.’ top news networks.
And they’re not done yet.