Content production platform Skyword has closed a $6 million round of financing with Cox Media Group as the sole investor.
In addition, a representative from Cox will soon join the Skyword board of directors that currently includes: Jim Manzi, former chief executive officer of Lotus Development Corp. and current chairman of Thermo Fisher; former Senator Bill Bradley, currently of Allen & Co.; Bill Kling, founder and president emeritus of American Public Media Group; and Tom Gerace, founder and chief executive officer of Skyword.
The funds will be used to expand the Skyword platform into new markets and to grow the company’s sales, marketing and client services functions. Progress Partners advised Skyword on the agreement.
The Skyword platform manages the process of creating content designed to be found through search and social, decreasing the cost of creation while maximizing audience reach. Freelance writers created thousands of pieces of content per month, then each piece of content is published directly and exclusively to one brand or media partner’s website.
“Cox is very excited to be investing in Skyword. Our hope is that our long history and their entrepreneurial spirit will make for a great combination and we will both learn more about this rapidly evolving market,” said Alex Taylor, executive vice president of Cox Media Group. “Skyword’s unique digital content platform allows brands and media companies to not only reach their customers directly with quality content, but to also interact with them like never before. Most importantly, their leadership team is passionate and impressive, and I know they will make a big impact on their customers.”
Cox Media Group joins existing investors Allen & Co., Progress Ventures and American Public Media Group.
Related links:
http://www.progresspartners.com
Photo by Flickr user GlennFleishman, used under Creative Commons license
Weak. Progress Ventures is the faux investment arm of their investment banker, Progress Partners, which peddled this deal around for 2 WHOLE YEARS before somebody finally said yes.