Predictive media monitoring firm announces funding from AshGrove Capital to help communications and media professionals predict stories and topics that will matter.
DUBLIN and NEW YORK, Feb. 14, 2023 — NewsWhip, the predictive media monitoring platform, today announced that it has secured $13 million in funding from London-based AshGrove Capital.
NewsWhip gives communications professionals and journalists clarity on the chaos of digital and social media. Its technology tracks which stories and narratives are gaining momentum in real time – and predicts which ones will matter in the hours ahead. Rather than artificial intelligence, NewsWhip’s platform enables “extended intelligence” – allowing communications and media professionals to make better decisions and be more efficient with their time.
“We’re excited to bring AshGrove Capital on board as investors,” says NewsWhip CEO Paul Quigley. “Their team recognizes the transformation underway in the communication profession, and the unique position NewsWhip has in enabling that transformation. We share a vision where NewsWhip is the real-time eyes and ears of every sophisticated comms department in the world.”
Ilkka Rantanen, Co-Founder and Partner at AshGrove Capital, said: “The challenges NewsWhip helps solve for their customers are becoming more topical for global organizations and critical for real-time responsiveness. Our investment perfectly aligns with the company’s technology-led approach to offer a unique and innovative solution in a growing market, and we look forward to supporting the Company to further enable communication professionals to be more focused, prepared and reactive to global news events.”
The funding will allow NewsWhip to accelerate its mission to identify and predict the news, narratives, and ideas that shape the world each day for users including Google, Meta, The New York Times, Samsung, and the BBC.
NewsWhip anticipates a 50 percent increase in headcount from 2022 to 2024. NewsWhip is becoming a must-have service in the fast-changing $5.5bn PR and media technology market.
NewsWhip was advised on the transaction by Pegasus Capital, a financial advisory firm based in Dublin, Ireland.
About AshGrove Capital
AshGrove Capital is an independently owned London based specialty lending fund with a sector-led approach focusing on software and services underpinned by the teams’ deep sectoral experience. AshGrove Capital provides tailored credit solutions for a range of transactions from organic and inorganic growth financing to buyouts, supporting a variety of shareholders including private equity, growth equity, VCs and founder-entrepreneurs.
About NewsWhip
NewsWhip (www.newswhip.com) is the only real-time media monitoring platform that predicts the stories and topics that will matter in the hours ahead, giving communications professionals the clarity they need for quick and confident decisions. The NewsWhip platform helps clients to predict the news, unpack crises and issues, and better understand which stories are engaging audiences on a global and local scale. NewsWhip’s clients come from 80 countries around the world, and include PepsiCo, Google, Tinder, ConAgra Samsung, McDonald’s, Walmart, ABInBev, the Associated Press, Condé Nast and the Washington Post, along with NGOs such as Amnesty International, Médecins Sans Frontières and the World Health Organization.
About Pegasus Capital
Pegasus Capital, a financial advisory firm based in Dublin, Ireland is an active adviser to Irish technology companies with other recent notable transactions including; the $64m sale of StitcherAds to Kargo Global Inc., the €45m sale of Adaptive Mobile Security to Enea AB, and the $56m investment in LearnUpon by Summit Partners.
SOURCE NewsWhip
