More cash for Zemanta, which makes tools for blog publishers: The company just announced it has raised $3 million in additional funding from Union Square Ventures and Eden Ventures.
Zemanta thinks the funding will lead it to profitability.
Here’s what the company says in a blog post:
Today we are happy to announce further support from our leading investors, Union Square Ventures (NY) and Eden Ventures (UK). They are putting in $3M which we will use to finance sales expansion and further innovation in products for bloggers.
We are grateful to have such great and supportive investors, who share our vision and understand the caveats of our mission. I’m feeling a bit sentimental today, so here’s a short recap of our story to date.
Three years ago we won Seedcamp with a simple idea – let’s help bloggers create better blogs by bringing them interesting, relevant content at the right time and place – when they are writing their posts. We believe in blogging.
We based our service on some very clever semantic technologies, but buried it deep below a very simple interface. We believe in simplicity.
We focused on building a great product and evangelizing it. We’ve loved all the feedback we’ve received and are thrilled whenever we read a review, raving or critical, by bloggers worldwide. They called Zemanta anything from ‘best thing after sliced bread‘ to ‘the blogging god‘.
sceptics believed there was no business model to follow. Only six months after launch, Fred Wilson noticed that by using Zemanta, he started blogging differently. He articulated our potential as ‘adwords for content creators’. We were happy to welcome him on our journey.
Earlier this year we started experimenting with what we call ‘promoted recommendations.’ it really caught attention of large content publishers, so we will be investigating it further. We hate obtrusive banner ads and we know there are much better opportunities. We believe in ‘advertising as content.’
The company announced two major partnerships this summer, with Blogger.com and WordPress.com, giving us incomparable validation and reach in the blogosphere. We strive to power semantically-assisted next-gen blogging tools, that will be more powerful and easier to use than anything you’ve ever seen.
We’ve made many mistakes, but we’ve learned from each and every one of them.
The company has raised $6M to date. This financing is expected to take Zemanta to profitability.