Citizen journalism site Helium.com has secured $17millon in funding. According to a press release from businesswire.com, the financial backing is from an international group of investors led by Signature Capital LLC.
“Helium‘s unique platforms put the power of citizen engagement behind media publications, enabling them to engage readers in a way that will help grow audiences and increase reader loyalty,“ said Bill Turner, principal of Signature Capital, in the release.
“With Helium.com, we are bringing our financial resources to further accelerate this growth in citizen journalism, and to support Helium‘s objectives towards providing solutions to newspapers at a time when budgets are shrinking and ad revenues are down.“
The site currently has a community of over 150,000 writers covering subjects from politics to pets and sport to science. The website’s terms have recently been changed to promote higher quality content. The changes include allowing ‘starred writers’ to receive payment upfront for new articles.