US video news start-up site Newsy has raised $1.5 million in new funding, according to a report by Beet.tv of an interview with CEO Jim Spencer.
The funding will allow the site, which currently monitors, analyses and presents news coverage from across the world, to expand in terms of original programming, adding to staff and moving correspondents to different locations.
The company curates about 15 video segments a day which are compilations of clips from many news organizations. They are edited around a specific news topic. The segments are then introduced by a “host” in the Columbia studios. The news source of the videos are identified with links.
In the interview Spencer says the funding will help the site grow into a “true mobile news organisation”.
See the full video interview below: