NewsGator Raises $12 Million for RSS Feed Reader Services

Authored by Mark Hefflinger on December 13, 2007 - 9:09am.

Denver - NewsGator Technologies, the provider of a desktop RSS news feed reader, has raised $12 million in its fifth round of venture capital, led by new investor Vista Ventures.

Previous backers Mobius Venture Capital and Masthead Venture Partners also participated.

Founded in 2004, Denver-based NewsGator now claims over 1 million users of its service, which is available through partners like USA Today, FeedDemon and NetNewsWire, as well as through corporate RSS readers and via mobile devices.

TechCrunch reported that the company, for which a main source of revenue are licensing fees to enterprises, will use the funds to strengthen its position in the enterprise RSS space.

http://www.techcrunch.com/2007/12/13/newsgator-gets-12-million/

Published in DMW Daily, December 13, 2007

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Comments

Why so Much Money??

Submitted by Mike (not verified) on December 14, 2007 - 2:01am.

I must admit that I don't fully understand what they are doing with 30 million in VC funding. Our Enterprise RSS Server http://www.easybyte.com/products/enterpriserss.html has more features than the NewsGator offering and is available today, we developed it inhouse for a fraction of the 30 million that have taken in. So it is all very confusing what they can possibly be spending such a vast amount of money on?