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SPH invests in social media curation platform Crowdynews
CROWDYNEWS, a social media curation platform for media companies, has raised 2.5 million euros (S$3.95 million) in funding.
The Series A round was led by INKEF Capital and co-investor Singapore Press Holdings through its New Media Fund.
It plans to use the funds to continue its global expansion with media and newspaper companies. Customers include the Chicago Tribune, Washington Times, AccuWeather and hundreds of other media outlets around the world.
Crowdynews gathers social media posts, photos and videos from Twitter, Facebook, Instagram, Vimeo and other channels to augment traditional reporting with social media and engage readers.
Its platform uses advanced technologies such as natural language processing and artificial intelligence to achieve over 90 per cent relevancy rates in more than 25 languages and is the only social media curation platform that is both multi-lingual, globally scalable and pulls from a list of premium social media services.
Founded in 2010, Crowdynews is headquartered in Groningen, The Netherlands. The company's social media curation platform comprises three products: Crowdynews Widget, Crowdynews Breaking Burner and Crowdynews Amplifinder.