Spot.IM, a social-engagement and community platform created for digital publishers, raised $25 million in Series D funding, the company reports.
The new round of funding will enable the platform to expand as it works to help publishers boost the lifetime value of readership. The platform provides publishers with engagement and community moderation tools that spark on-site interaction between users and content.
Nadav Shoval, CEO of Spot.IM, stated: “Our goal has always been to provide publishers with the ability to build a sustainable business organically through their content and community — not arbitrary clicks.”
Spot.IM is used by major publishers, such as Hearst, AOL, Refinery29 and Fox News.
Spot.IM gives publishers control of their social networks by bringing user interaction directly to a publisher’s website through live conversations, real-time notifications and deep user profiles.
“Pressures of monetization have been poisonous to the digital media industry,” stated Itzik Ben-Bassat, Spot.IM president and member of the board of directors.Insight Venture Partners led funding with participation from Norma Investments, representing businessman Roman Abramovich, AltaIR Capital, Cerca, and WGI Group, founded by Noah Goodhart, Jonah Goodhart and Mike Walrath.