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Betaworks raises $20M to make & invest in more awesome stuff

Image Credit: Image via Betaworks/Twitter

Betaworks, maker of useful web tools and service, is raising a new $20 million round of funding, the company confirmed to VentureBeat today.

Betaworks is known for building lots of useful services that you’ve probably heard of, including Chartbeat, Dots, Instapaper, the all-new Digg / Digg Reader, and Tweetdeck (now owned by Twitter). Betaworks is unlike other startups because its strategy is to build useful or highly addictive services/products while making seed investments in outside companies.

Betaworks CEO John Borthwick told VentureBeat the new capital will go towards growing the company. The round, which Borthwick revealed last week, came from RRE Ventures, Lerer Ventures, Intel Capital, White Star Capital, and other previous investors as well as Paul Cappuccio and John Drzik. (More specifically, half of the round came from a note that converted in August, while the other $10 million came from new investors.)

Founded in 2008, the New York-based startup has raised a total of $41.8 million in funding to date.

More information:

Betaworks is a new media company that has a network of successful platform businesses including Bit.ly, Twitterfeed, Chartbeat, and Superfeedr. These “real-time Web” companies enable visibility and analytics while facilitating real... read more »

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