New York storytelling platform Contently pockets $9M in Series B funding

By VCPOST Staff Reporter

Jan 15, 2014 11:02 PM EST

Storytelling platform Contently announced today that it has secured $9 million in Series B funding. Sigma Prime, Lightbank, Contour Ventures, David Lerner, and Sigma West participated in the latest round, wrote TechCrunch.

The latest round brings Contently's total raised capital to $11 million. The New York-based firm will use the funding to expand its advertising enterprise tools. The company will also equip its journalists with important tools for the publishing industry, the report detailed.

Contently aims to fight low-quality linkbait by providing a marketplace for content writers and journalists that grants them higher compensation than those found on eLance, oDesk, and other similar platforms. The company makes money by licensing the software used in its marketplace to publishers, marketers, and agencies, the report explained.

At present, Contently has almost 30,000 registered journalists on its platform. Out of this number, 5,000 are branded as "experienced professionals" from major publishers, the report added.

The startup has around 50 enterprise customers who are subscribed to its 6-to-12-month contracts. Contently's clients include Pepsi, Coke, Federated Media, General Electric, and American Express, TechCrunch reported.

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