Funding will be used to help grow the company's team, strike more content partnership deals, and increase the level of engagement and time spent on its sites. The company's products include user-friendly widgets, custom Site Search and several APIs.
Collecta will also be moving its headquarters to LA, advantageous for creating and strengthening relationships with big, traditional media companies. To date, one of the company's greatest strengths has been its ability to broker deals with and create value for companies such as CNN and FOX. We look forward to seeing what kinds of partnerships are forged once the staff has settled into its new home.
"This funding is a great validation of both Collecta's technology, as well as the company's core vision that real-time data applications are fundamentally changing how we access information on the Internet," said Collecta CEO Gerry Campbell.
Collecta's leading real-time platform is based on the open messaging standard XMPP, and its platform gathers real-time content from a network of more than 15 million content sources, including Twitter, WordPress, Flickr and other social sites, along with news outlets such as the Associated Press and Reuters.
Collecta's Series A came in the form of $1.85M from early-stage VC firm True Ventures and other individuals last spring.