Today is a big day here at Livefyre HQ! We are excited to announce that we have raised $15 million in funding, led by U.S. Venture Partners (USVP) and including existing digital media investors Greycroft Partners, Cue Ball, HillsVen Group, and ff Venture Capital. This brings our total funding to date over $20 million.
So what does this mean for Livefyre? No, we aren’t going to purchase DJ equipment and hire someone to spin 9-to-5 (although we did just buy a crowd-sourced music system so the whole office can listen to music together). The main purpose for this investment is to expand to new markets while continuing our reputation of innovation for existing and future customers.
We plan to accelerate product development in the mobile space, as a few of our customers (including Bravo and Showtime) have already integrated our social platform into to their second screen experiences to successfully increase engagement. We will also be dedicating more resources to our experimental products and recently created Livefyre Labs, a R&D group within Livefyre, that manages and builds on our developer platform. You might have already used one of our first Labs products- the Super Bowl NewsHub.
To learn more about the buzz surrounding Livefyre’s funding announcement and plans for growth, check out these articles on TechCrunch, TheNextWeb and VentureBeat. And continue to check our blog for the latest Livefyre news, product launches and more!