more money for newsgator

Filed in archive Venture Capital on December 2, 2004

Apparently Newsgator needed more money to finance running expenses:

"NewsGator has closed a substantial second round of equity financing with Mobius Venture Capital, which also provided the company's Series A capital. "We're thrilled to continue to work closely with NewsGator to help expand them as the primary RSS platform company," said Mobius Venture Capital's Brad Feld. "They've accomplished a great deal in a small amount of time on limited resources; we're very excited to partner with a great team to accelerate that leadership in this exploding industry."

A second round without another investor - seems a bit unusual for me. However the site and the business seems to storm from new service to another...