The latest funding round was led by FTV Capital and also included a number of existing investors, like FirstMark Capital, InterWest Partners, and the Mayfield Fund.
As part of the deal FTV partner Liron Gitig is joining NewsCred’s board of directors.
NewsCred will use the new funding to expand its capabilities in areas including marketing operations -- where it provides software to enable brands to manage content creation, distribution and measurement -- and its content marketplace, which enables brands to rapidly scale up their content marketing efforts by helping them find a range of original, licensed, and user-generated content.
The company will also bolster its analytics offerings.
Over the last year, NewsCred says its annual recurring revenue has grown threefold, while its customer base has doubled.
According to the company, it has served advertising and marketing clients including ASICS, Barclays, Capgemini, Cisco, ConAgra Foods, Conair, Dell, Fidelity, Hewlett Packard, Nasdaq, Pepsi, Toyota, and Visa, among others.
In February, NewsCred struck a deal with Havas Media Group, giving the latter access to NewsCred’s 5,000 publisher partners for content marketing, which include the Associated Press, Al Jazeera, the BBC, Bloomberg, CNN, The Economist, The Guardian, Gawker and New York.
The publishers covered under the agreement provide content to 100 countries in numerous formats (text, images, videos, infographics and audio files) and languages.