Betaworks Gets $20 Million to Fund Online Start-ups

Authored by Mark Hefflinger on March 11, 2010 - 8:19am.

New York - Betaworks, a holding company that invests in and helps develop online start-ups, has raised $20 million in new funding, led by Intel Capital and RRE Ventures, GigaOM reported.

Other investors included Softbank, Founders Collective, DJF Growth, AOL Ventures and The New York Times Co.

New York-based Betaworks has invested in a number of companies that utilize the Twitter publishing platform, including Summize, which was acquired by Twitter in 2008.

Other Twitter-related investments include Bit.ly, Tweetdeck, Chartbeat and Twitterfeed; entertainment-related investments include Songkick, OMGPOP and Hot Potato.

Betaworks co-founder John Borthwick told GigaOM that the company will use the funds to be more aggressive in investing in start-ups, as well as to do more follow-on investments.

http://betaworks.com